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Understanding Wills and Estates: The Common Concerns

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Understanding Wills and Estates in QueenslandIn the case of a death in the family, consulting a legal professional is the solution. From the legal consultant, you’ll receive relevant information. He’ll provide instructions on how to proceed with wills and estates.

Here are some common concerns:

  1. Naming or entitling someone as executor of your will is necessary. This person (the executor) possesses the responsibility of strictly adhering to all the terms in your will. The executor also holds the responsibility of managing your estate.
  2. Some people insist that composing a will is unnecessary. Someone without a will (a valid will) is intestate. A couple of reasons for this are: (1) the thought that an estate doesn’t amount to a lot, and (2) the presumption that an estate will automatically go to the spouse.
  3. Once proven that a will is the finalised statement, the court starts to issue a grant of probate. The process is quick. Usually, the waiting period for its completion is a month (4 weeks).
  4. A will should be made by the estate owner. It’s supposed to be typewritten. Someone can be employed, too. A Public Trustee is qualified for this type of work for a fixed fee.
  5. In case of a damaged will, there’s a solution. Under UCPR (or Uniform Civil Procedure Rules), the solution is to file a form (Form 111). For additional information, it's best to get some professional help. Look for a reliable law firm knowledgeable with wills and estates, such as Connolly Suthers
  6. The contents of a will aren’t private. As soon as it’s been filed in court, a will is made public. After the payment of a minimum amount, any individual can access the contents of a will.
  7. A grant of probate to permit someone to manage your estate is necessary. But, if the assets are relatively small and real estate sales/transfers are being processed, a grant of probate may be unnecessary.

Wills and estates are something you should take seriously. Always arm yourself with the right information and don't hesitate to consult an experienced lawyer if things get stressful to handle. 

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