Possessing a couple of movable and immovable properties is not enough. Particularly, when you are living in Perth, Australia, you need to indispensably posses a substantial estate will. In this regard, the best property lawyers Perth can help you quite effectively. Besides, the significance of an estate will lie in various aspects. Firstly, it evinces the several assets and belongings, which will be allocated equally amongst all your legitimate inheritors later.
Importance of estate planning
Estate planning is equally important apart from making the will of your property or properties. It helps you to allocate your assets and belongings equally amongst your inheritors after your death. Most importantly, there are certain properties in Perth for which even a comprehensive will is not sufficient. Hence, estate planning becomes of utmost importance, which helps the property owner in various ways. Firstly, it helps in the allocation of their assets and belongings as they please. Secondly, it levies a nominal tax on his or her real estate property as an added benefit.
Factors to consider whilst making your will
Before getting your will made in the assistance of a property lawyer in Perth, you should consider some worthwhile factors. Some of these factors can be considered below.
- Your last wish of regarding your death, which implies that whether you want a burial or cremation.
- You should provide a legal guardian to kids who are under 18 years and don’t have their parents. Nonetheless, the final verdict regarding this will be declared by the Family Court of Australia.
- It may happen that the person who you wish to hand over all your properties suddenly passes away. So, the best solution to this issue would be to opt for another successor immediately. And, once you do that, instantly inform your property lawyer know about it. Thereafter, your lawyer will help you in every possible way to make the aptest will of your choice.
- Also, whilst making your will, you should include multiple executors in there. In case, one is incapable of executing your last real estate wishes, the other will be able to do that.
- Appraisal of your assets and belongings is equally important. Which person will get which portion of your property is something which should be mentioned invariably in your will.
- It may be the case that you wish to leave a few special assets to a specific person. If that is the case, then don’t forget to include that in your will as well.
So, these were some of the factors worth contemplating before you get your will made.
Complete checklist of criteria of your will
After getting your will made, make sure that you have met some of the criteria given below.
- None of the crucial points should be excluded from your will
- You also shouldn’t attach or staple any other document along with your will
- Also, never miss out on adding the attestation clause in your will. This will specify that you had signed the will in the presence of multiple witnesses and vice versa
- Besides, mention the good names and complete addresses of your fellow inheritors without a failure
- You should also specify the exact date on which your will was signed.
- Most importantly, you should specify your good name and full address in your will. This undoubtedly comprises the most essential part of your will making.
And unlike a property damage lawyer, an adept wills and estate planning lawyer in Perth will help you with this.
People who can become your witnesses
Well, if you are thinking that possibly any person can become the witness of your will, then you are wrong. The people who wish to become witnesses of you will have to be more than 18 years of age. Secondly, they should not be any of the inheritors of your properties. Even the marital partner of any of your inheritors cannot become the witnesses of your will.
Who are the predominant beneficiaries of your will?
Although, a property lawyer in Perth is always there to help you,, the will should be of your choice. The people amongst whom you will distribute your assets and belongings are entirely up to you. In spite of this, the beneficiaries who chiefly deserve your properties include your spouse, kids, grandchildren, and your parents. However, you can include a couple of people more in your will according to your wish as well. But, the primary beneficiaries who you just learned about must be included in your will without a miss.
Get the best legal assistance from a property lawyer in Perth!
So, now that you know the nitty-gritty of making a will, you should contact the best property contract lawyer immediately. Your lawyer will make the most appropriate will in accordance with your requirements. Meanwhile, he or she will simplify the entire legal procedure for you by telling you to follow the right legal steps. So, meet in person a team of experienced Property lawyers Perth and make the will of your preference.