Do you feel a will has not left you with adequate provisions? Are you the Executor of a deceased estate? Do you need the peace of mind knowing that your loved ones have been provided for by proper estate planning?

Nott and Co Lawyers can assist you to deal professionally with wills and estates and make sure your affairs are in order.

It makes sense to draft a will that will ensure you loved ones get the benefit of your lifetime’s work.  If you don’t have a will, your property will be divided up according to a set formula. And if you don’t have any next of kin when you die, your property will go to the State.

A Will is the foundation stone of estate planning. Nott and Co Lawyers can economically help you draft one that is watertight

The cost of making a Will in NSW will vary depending on a few different factors. This includes how complex the document is, and the methods you use to prepare a Will.  Other factors that must be considered are the nature of your assets, the size of the estate, how many beneficiaries you wish to nominate and whether you anticipate the Will will be contested.

There are DiY Kits available for $30-$40. However, if you have an estate of any substance, we recommend having a professional draft the Will. For a modest estate, anticipate prices from $100-$1500.

If you are upset with the provisions of a will, you will need to know whether you are eligible to contest the Will as a first stop. You have to understand on what grounds you can contest a will and in what time frame you must initiate legal action.

It can be expensive to undertake such an action. Nott and Co Lawyers will make every effort to bring parties to the table to negotiate even the most complex matters before resorting to the Court action.

Often Family Provision Claims are applied for when somebody who is eligible believes they have not been adequately provided for. The law requires that an eligible person is adequately provided for and if this has not occurred, it is grounds to contest the will.

Whatever your circumstances, whether you’re contesting or defending a will, the laws and processes are complex.

When someone has dies, the executor of their Will usually administers the estate and disposes of assets and debts. To do this, the Executor obtains a legal document called a Grant of Probate.

Probate is the process of proving and registering in the Supreme Court the last Will of a deceased person. Grants of Probate and the corresponding Will are stored at the Supreme Court in NSW. These are public documents.

The Grant of Probate is the proof an Executor requires to demonstrate they are authorised to administer the Will, and is needed before the assets can be released. Once a Grant of Probate has been given, usually within six working days, management of the deceased’s assets can legally be transferred to the executor. Applications for Probate to be made within 6 months from the date of death of the deceased.

Fees to obtain a Grant of Probate or Letters of Administration are fixed in accordance with Schedule 3 of the “Legal Profession Uniform Law Application Regulation 2015”.

The Probate process is formal and contains many linked steps. If these are not done correctly, delays can occur in the settling of the Estate by the Executor.

Estate planning is the way that you anticipate and arrange for your estate to be passed onto your beneficiaries in the most financially efficient and tax effective way. You should also make arrangements to appoint Power of Attorney and Enduring Guardian

A Will is the foundation stone of estate planning. Nott and Co Lawyers can help you draft one that is watertight.

Nott and Co Lawyers can assist you to correctly draft the bequest of such things as a Life Estate which permits the beneficiary to have the right to possession and enjoyment of property, including income from property, for the duration of their life.

A Power of Attorney is also important to consider. This is a legal document that permits somebody to act on your behalf I all property and financial matters but not in relation to your health or wellbeing. Health and wellbeing are looked after by appointing an Enduring Guardian.

Bestowing a Power of Attorney on somebody is giving them the power over everything that you own so proper legal advice is beneficial.

You may wish to create a Testamentary Trust as such instruments can protect assets and reduce tax paid by beneficiaries from income earned from the inheritance and created by a will.