5 things you
need to know
about
Wills and Estate Disputes
- More than half of Australians do not have a Will or Estate plan in place in the event of their death.
- If you pass away without a legally enforceable Will, the law of the state that you reside in will determine how your assets are distributed, even if this goes against your intentions.
- Your Will can be challenged in court if you have not adequately provided for your dependents, such as your spouse or children, or if the Will does not meet the required legal standards.
- There are time limits that apply to contesting an estate. For example in New South Wales, if you intent to make a claim, you only have 12 months from the date of death to lodge a contested estates claim.
- Estate planning is an ongoing process. You should constantly re-evaluate the estate when circumstances change, including marriage or divorce, a change in the family's asset pool or the establishment of trusts.
