Wills & Estate Planning Lawyers Sydney

A loved one becoming seriously ill or losing mental capacity is distressing enough without also trying to get permission and authority to take over decision making for their medical treatments and financial spending.

Nicholas Clayhills

“When we bought our business in 2009, Nic Clayhills professionally guided the process to completion, there was no stone unturned.

Four years later and Nic’s due diligence is invaluable. When we engaged Clayhills we didn’t understand that we would be forming one of our most important business relationships.

Nic, over the years has successfully advised and represented us. I could not recommend Nic more highly”

Getting approval from an aged or infirm loved one in advance is way simpler that getting authority from the Guardianship Tribunal elsewhere, once they are too ill to know what’s going on. You can do this quite simply in an advanced care directive, power of attorney and appointment of enduring guardian.

As regards what happens after you pass, this is best done in a thought-out Will. That way you get to choose who does, and who does not, inherit from you.

Fulfilling a sick loved one’s wishes for a graceful exit, running their financial affairs and even after death will not be possible to do exactly as they wished for unless you have the correct signed paperwork in place in advance.

If it’s too late the document these steps then we have to go the Guardianship Tribunal and apply to have this kind of decision-making power (for those still with us) or the Supreme Court to wind up their estate (for those who have passed).

Common Wills & Estate Planning Questions

What if I have no Will?

If you do not have a Will, your estate is “intestate”. This means that your estate property is distributed according to a list set out legislation. This list may exclude your unmarried partner. So, a written Will allows you to distribute your property according to your wishes without having to ‘prove’ a relationship.
It also costs more to wind-up an intestate estate (i.e. without a Will)

And the beneficiaries are …

It is important to choose who will receive your estate, and in what share and priority. Your estate is basically your house, super, cash and possessions. Sometimes, you will need to give away business interests or trusts as well. Occasionally, we will need to consider what to do with debt too.

Can I ‘give’ my estate in different ways?

Yes, you can give away your property in many ways, including gifting cash, transferring real estate and shares, giving specific gifts, donating legacies and establishing children’s trusts.

What form does a Will take?

Ideally written and witnessed in a formal way. In rarer situations it can be written on a napkin, be in draft or whispered on a death bed. In whatever form it may take, one major issue is the Will writer’s mental capacity, did they know what they were doing at the time their Will was made.

What else should I think about?

Some other matters to think about are:

– Who will administer (run) my estate and how will they do it?

– Who are the beneficiaries? What happens if they are under 18, or die first?

– Do I want organ donation?

– What kind of funeral ceremony and burial do I want?

How often should I update my Will?

Every time something big or important in your life changes. This includes starting or ending a relationship, having or planning children, and buying or selling significant assets. Caution dictates that you check in with your lawyers every 5 to 7 years at least.