What’s a will and why should you need one?
A will is described as a legal document outlining how you would want your property to be distributed after you die.
Getting your will done is strongly advised for the following reasons:
- You may select who you require to be the executor who is going to administer your estate. When you die without a will, anyone with appropriate standing may apply to the court to be appointed.
- You may choose who to leave your estate to. When you die without a will, State legislation will determine who inherits, and it might not be what you wished for.
- You may establish trusts which will look after the interests of children plus disabled members of your family.
- Through proper succession planning, you will be able to minimise the tax payable on your estate.
- A will also makes things simpler and less costly for the members of your family or/and friends after your demise.
Contesting a will or trust may be a specialised field of law. It’s significant to have a lawyer in the Gold Coast who has the experience to handle these matters on your behalf.
Gold Coast estate litigation solicitors are not only skilled at handling cases that involve estate and trust disputes, they also draw on their thorough knowledge base of the particular processes surrounding the issues. They are equipped to take each case through to its conclusion. They are sometimes able to save estate assets being spent on litigation by diligently working to come to an amicable resolution with disgruntled beneficiaries.
The estate litigation lawyers represent trustees, beneficiaries and personal representatives in different jurisdiction dealing with probate and estate litigation matters.
A Solemn Form Proceeding challenges the admission of a Will to probate or seeks to revoke the probate of a will which is pending already before the probate court.
A similar kind of estate litigation may happen contesting the terms of a trust. The following are the most common causes of estate litigation and will contests.
Lack of Capacity
A trust or will may be declared null and void if lack of capacity is proven. Normally, incompetence is established through prior medical diagnosis of senility, dementia, psychosis or Alzheimer’s.
When the testator is coerced or compelled to execute a trust or will as a result of improper pressure that’s exerted on him or her by a friend, relative, or a trusted advisor.
Lack of Formalities
Proper execution of a last testament and will or trust requires that the Will be signed by the testator, and witnessed and signed by some two unrelated parties. A last testament or will may be contested on the basis that it wasn’t properly drafted and signed, or witnessed in accordance with the requirements of the Succession Act.
Breach of Fiduciary Duty
The trustee of a trust or personal representative of an estate owes the estate’s beneficiaries fiduciary duties. When these responsibilities are violated by a personal representative or a trustee, a cause of action may arise.
Documents may be forged in order to create unplanned outcomes with the intention to deceive. If documents appear falsified or altered, then a cause of action may arise.