Wills & Estates

BMA House Lawyers specialises in wills & estates planning, administration, and skillfully resolving family disputes that may arise after the passing of a loved one. At the core of Igor and his team’s philosophy is the belief that ‘prevention is better than cure.’ We emphasise the importance of creating legally sound Wills and other essential documents in alignment with your wishes to avoid potential complications for your loved ones in the unfortunate event of your passing. Our proactive approach ensures that all legalities are carefully addressed, offering you peace of mind in knowing that your estate will be handled according to your intentions.

In New South Wales, there are specific laws and regulations to provide a framework for the distribution of assets after death, the appointment of guardians, and the management of deceased estates. These laws ensure that individuals’ wishes are respected, assets are distributed appropriately, and vulnerable people are protected through guardianship arrangements. It is important to seek legal advice and engage in proactive planning to address these matters effectively to provide peace of mind for yourself and your loved ones.

Taking the time now to make an effective Will and estate plan can take a huge load off you and your family as you age, if the unforeseen happens, and when you die. Effective estate planning can also help make the most of your hard-earned assets and minimise the potential for disputes. We help a range of clients – from those with modest assets to families of high net worth and with complex business structures. We take a tailored approach to ensure that you and your family’s needs are specifically addressed and that your estate plan provides for an optimum outcome.

Wills

A Will is a legal document that outlines an individual’s wishes regarding the distribution of their assets after their death. It ensures that their estate is distributed according to their intentions, minimising potential disputes and providing for their loved ones. In New South Wales, the Succession Act 2006 governs the law of wills and estates. This Act outlines the requirements for a valid Will, the appointment of executors, the distribution of assets, and the rights of beneficiaries.

It is advisable to consult with an experienced lawyer to draft a Will that meets these legal requirements and reflects your specific wishes. Involving a lawyer to prepare your Will can also help structure your estate to protect assets and vulnerable beneficiaries, consider various tax outcomes, and help minimise potential disputes after you die.

Enduring Power of Attorney

By appointing an Enduring Power of Attorney, you can nominate someone you trust to make financial decisions on your behalf if you become incapable of doing so. A person can decide how much power or authority to give an attorney. For instance, they may want to limit the powers of their attorney to very specific tasks such as paying certain bills or selling their home on their behalf. We can explain the various options for structuring your power of attorney so you can make an informed decision and have documents prepared that are tailored to your needs.

Guardianship

Guardianship may be required when an individual becomes incapable of making decisions for themselves due to age, illness, or disability. The Guardianship Division of the NSW Civil and Administrative Tribunal (NCAT) has the power to appoint a guardian to make decisions on behalf of the incapable person regarding their health, accommodation, and financial affairs. The guardianship process involves an assessment of the individual’s capacity and a determination of their best interests.

By making an Appointment of Enduring Guardian, you can nominate a trusted person in advance to make certain health and lifestyle decisions for you in the event that you are incapacitated. You must have capacity at the time of signing this legal document.

Estate Administration

The person responsible for administering a deceased estate is the executor named in the Will. The executor confirms the assets of the estate, pays any amounts owing, and transfers the remaining funds or assets to the beneficiaries. They are also responsible for responding to anyone who legally challenges the Will, such as family members who feel that they did not receive adequate provision under the Will. In many cases, an executor will need to apply to the Supreme Court of New South Wales for a grant of probate to authorise them to deal with the estate assets.

Executors are often friends or relatives of the deceased, but as the duties can be quite complex, many seek legal assistance to deal with the legal task of administering an estate.

When a person dies without a Will (intestate), their property is distributed to beneficiaries according to a statutory formula. The general process is for their next of kin to apply to the Supreme Court for letters of administration. The purpose of letters of administration is similar to a grant of probate, in that it authorises the administrator to deal with the deceased’s estate.

Elder Law

Elder law encompasses a range of issues, including estate planning, retirement planning, healthcare, and long-term care arrangements for older people. It also addresses matters related to guardianship and capacity.

Elder abuse, which is unfortunately a growing concern in our society, is also covered under elder law. New South Wales has implemented specific legislation, the Crimes (Domestic and Personal Violence) Act 2007, which provides protection and recourse for elderly individuals who are subjected to abuse, neglect, or exploitation.

A key focus of our law firm is wills and estate planning, including all aspects of estate administration and contested estate litigation. Our principal has a particular interest in elder law, having represented the elderly against the imposed appointment of private financial managers at the NSW Guardianship Tribunal.

If you need assistance, contact [email protected] or call 02 9233 3050 for expert legal advice.