In this Parsons Law Talk video, Carla addresses some of the common questions that arise in respect to Will and deceased Estate matters.
Transcript
Hello, I’m Carla Parsons, and this session is focused on some common questions that we’re asked at Parsons Law. So the first question that we’re often asked is, what is an executor? An executor is essentially the person who is appointed by your will, and it’s their job to carry out the terms of your will and essentially to make sure your testamentary wishes are followed. Another question that we’re often asked is, what is a grant of probate? And essentially, probate is the process of going through the court system to have the last will approved as being the last valid will. Probate is often required by asset institutions or perhaps due to the particular circumstances of an estate. And you do often need to get that grant of probate through the court before you’re able to deal with the estate assets.
It’s important to know that although it involves the court process, generally an application for probate is completed through paperwork. So certain court forms are filed on behalf of the executor, and there’s no actual need to personally or physically appear at court for the application. Another question that can arise is what is a grant of letters of administration? And how is this different to a grant of probate? And the main difference is that you would seek a grant of letters of administration where the person has passed away without leaving a valid will. As I mentioned before, probate is the process of having a will approved by the court. So if there is no valid will, the process is simply called obtaining a grant of letters of administration.
Sometimes I’m asked, why would I see a lawyer and spend the money to make a will when I can make it myself? Buy a will kit, download something off the Internet. The best advice I can give you is making a will is a technical area that does require skill and experience and knowledge in this area of law. And if you were to make your will yourself and not get it right, it can become a very expensive way of making your will, as any issues with the will after a person has passed away generally need to be dealt with through the court process or the court system. Another question that we’re often asked at Parsons Law is what assets will pass under the terms of my will. And generally the assets that you can deal with by your will.
And by deal with I mean gift to beneficiaries are things that are owned in your individual name. So if you own assets in joint names, for example, as joint tenants with another person, or you have assets that are held in a trust, or perhaps assets that are held in superannuation then those type of assets won’t necessarily be covered by the terms of your will, and you would need to take some extra steps as part of your estate planning to make sure that those assets do pass to the persons you intend. Sometimes we’re asked at Parsons Law who can make a will, and essentially anyone who’s over the age of 18 years who has testamentary capacity is able to make a will. So that really is just some of the questions that we are commonly asked.
If you do have any other questions, please feel free to contact Parsons Law and we’ll certainly be there to answer your questions and guide you as much as we can in respect to will and estate law.Â
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