Wills & Estates

• What are the legal requirements for a valid will in Australia?

  The testator must also have the mental capacity to understand the nature of the document and the effects of its provisions.

• How can a will be contested in Australia?

  A will can be contested on grounds such as lack of mental capacity, undue influence, or improper execution.|||The contesting party must file a claim in court, and the court will review the evidence to determine the validity of the will.

• What is the role of an executor in administering an estate?

  An executor's role includes gathering and managing the deceased's assets, paying debts and taxes, and distributing the remaining assets to beneficiaries.|||The executor must act in the best interests of the estate and comply with the wishes outlined in the will.

• How are intestate estates handled in Australia?

  If a person dies intestate, their estate is distributed according to the intestacy laws of the state or territory, which typically prioritize spouses and children.|||An administrator is appointed by the court to manage and distribute the estate in accordance with these laws.

• What is a probate and when is it required?

  Probate is a legal process that confirms the validity of a will and grants the executor authority to administer the estate.|||It is required when the deceased's estate includes significant assets, such as real estate or large bank accounts.

• How can a will be updated or revoked?

  A will can be updated through a codicil, which is an amendment to the original will, or by creating a new will that revokes the previous one.|||To revoke a will, the testator can destroy the original document or include a statement of revocation in a new will.

• What is the difference between a testamentary trust and a living trust?

  A testamentary trust is created through a will and comes into effect upon the testator's death, whereas a living trust is established during the testator's lifetime.|||Testamentary trusts are often used for managing assets for beneficiaries, while living trusts can help with estate planning and avoiding probate.

• How are digital assets handled in an estate?

  Digital assets, such as online accounts and digital files, should be included in the estate plan with clear instructions for their management and distribution.|||It is important to provide access details, such as usernames and passwords, and to appoint a digital executor if necessary.

• What is the family provision claim?

  Family provision claims allow eligible family members to seek a share of the estate if they believe they have not been adequately provided for.|||The claim must be made within a specified time frame after the death, and the court will consider factors such as the claimant's financial needs and relationship to the deceased.

• How are debts and taxes managed in the estate administration process?

  Debts and taxes must be paid from the estate before any distribution to beneficiaries can occur. This includes funeral expenses, outstanding bills, and estate taxes.|||The executor is responsible for filing the necessary tax returns and ensuring all obligations are settled in accordance with the law.

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