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Lawyer sounds alarm on dodgy wills
A Melbourne-based lawyer is urging clients to revisit their wills, following an increased amount of those being filed in the midst of the pandemic not being able to stand up legally.
Emma Musgrave
Rigby Cooke Lawyers wills and estates specialist Rachael Grabovic said when the COVID-19 pandemic kicked off last year it triggered a wave of panic planning, with many Australians rushing to execute a will.
“Last year certainly reinforced the importance of planning for the unexpected, however this rush to protect our loved ones also raises some concerns around the validity of these documents,” said Ms Grabovic.
“Those who hurried to draft a Will amidst the pandemic may be disappointed to discover that their Will is not valid. I would urge everyone to check their plans with a lawyer who specialises in Wills & Estates.
“People approach their Will with the best of intentions – they want to ensure their loved ones are properly provided for – but if done quickly rather than correctly, it could leave your family in the difficult position where a Will is not valid.
“If you were to die leaving a Will that doesn’t meet the statutory requirements of a ‘valid Will’ – for example, there is doubt that the will-maker had testamentary capacity, or the document wasn’t properly signed and witnessed – there is no guarantee that a Court will ultimately accept the document as valid.
“If this happens, there is no guarantee that your estate will be distributed as you intended.”
Going forward, Ms Grabovic advised clients to properly consider the requirements when filing their wills.
“It’s also important to note the difference between dying without a valid Will and dying without a Will – if someone dies without making a Will at all, that person has died intestate and their assets will be distributed in accordance with the intestacy laws in their state or territory,” she said.
“It is recommended that you turn your mind to your Will and Estate Planning at least every two years. This means reviewing your personal and financial circumstances and objectives, as well as the personal circumstances of your intended beneficiaries and comparing them with your current estate plan.
“A regular review can flag any shortcomings in your estate planning, identify potential tax saving opportunities due to changes in the law or your personal circumstances, mitigate potential challenges to your Will, and it ensure that your documents remain legally enforceable.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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