Wills and estates lawyers in Sydney specialise in legally binding wills. A will is a detailed document explaining how an individual’s property should be distributed following their death, including who will manage their property through to final distribution.
Here are a few key reasons why a legally binding will is important for both individuals and businesses, according to the top estate planning lawyers in Sydney.
Detailed Estate Distribution
Estate planning and will dispute lawyers in Sydney recommended thorough will preparation to ensure your final wishes are crystal clear. Not only does this pertain to funeral wishes, but also how you want your property divided up, whether it be amongst family, friends, business partners, or community groups you care about.
Avoid Probate Problems
An estate planning professional helps you outline how you want your money and assets, including any property or business you own, distributed after death. Having a clear plan in place helps prevent probate problems, made significantly easier with the help of reputable wills and estates lawyers in Sydney. Keep in mind that all estates go through probate whether there’s a will or not, but a legally binding will speeds up the process by informing the court how you want your estate divided.
Circumvent Legal Challenges
Probate administers your estate, and without a will, the process drags along as the court needs to decide how to divide everything up. There could be legal challenges along the way if you don’t have a will and just one person inherits your estate. Will dispute lawyers in Sydney know how common this is between parents and children, as oftentimes spouses and other close relatives believe they are entitled to a share of the estate.
Protect Valuable Investments
At the end of the day, a legally binding will allows you to outline what you want to happen after your death. With all your valuable investments, whether it be owning property or running your own business, there is a lot to consider, and you deserve to have your final say. Estate planning lawyers in Sydney can help you make sense of the will preparation process and how to efficiently divide up your estate, while maximising the inheritance for those you love the most.
Lancaster Law & Mediation has experienced wills and estate planning lawyers in Sydney who can help with all aspects of estate planning and mediating will disputes between parties. Contact us today for all your estate planning questions and to speak to our highly regarded will dispute lawyers in Sydney.