WILL AND ESTATE

If you die without a valid will (intestate), your assets will be distributed according to Queensland’s intestacy laws rather than your wishes. These laws set out a fixed formula that may not reflect your preferred distribution. Additionally, the court will appoint an administrator rather than you choosing your executor, potentially causing delays and additional costs for your loved ones.

You should review your will at least every 3-5 years and after any significant life event such as marriage, divorce, birth of children, death of beneficiaries or executors, substantial changes in assets, or relocation to another state or country. In Queensland, marriage generally revokes a pre-existing will (subject to a few exceptions) unless the will explicitly states that it was made in contemplation of that marriage.

An executor is the person you appoint to administer your estate, including collecting assets, paying debts, and distributing property according to your will. A beneficiary is a person or organisation that receives assets from your estate. While the same person can be both an executor and beneficiary, understanding these distinct roles is important when creating your will.

Probate is the legal process of validating a will and formally authorising the executor to administer the estate. In Queensland, probate is typically required for estates with substantial assets, real property, or certain types of investments. Some assets, such as jointly owned property (with the right of survivorship) and superannuation (a binding death benefit nomination), may pass outside the will and don’t require probate.

Yes. In Queensland, certain eligible persons can make a family provision application if they believe they have not been adequately provided for in your will. Eligible persons typically include spouses, children, dependents, and in some cases, former spouses. While you cannot completely prevent claims, careful estate planning can minimise the risk of successful challenges.

Superannuation typically doesn’t automatically form part of your estate. Instead, it’s distributed according to your binding death benefit nomination or at the discretion of the super fund trustee. Making a valid binding death benefit nomination is an essential part of comprehensive estate planning that works alongside your will.

An enduring power of attorney is a legal document that allows you to appoint someone to make financial and/or personal health decisions on your behalf if you lose capacity. Without an EPA, if you become unable to manage your affairs due to illness or accident, your family may need to apply to QCAT for appointment as administrators/guardians, which can be costly and stressful.

When selecting an executor, consider their willingness to serve, trustworthiness, organisational skills, financial literacy, and ability to handle potential family conflicts. Choose someone who understands your wishes and will act impartially. For complex estates, consider appointing multiple executors with complementary skills or a professional executor.

Estate administration typically involves: gathering information about assets and liabilities, applying for probate if required, notifying relevant organisations, paying debts and taxes, selling or transferring assets as necessary, and distributing the estate to beneficiaries. Depending on the estate’s complexity, the process can take anywhere from 6 months to 2 years.

Contact us to schedule an initial consultation. We’ll discuss your personal circumstances, explain your options, and recommend an estate planning approach tailored to your needs. We’ll outline our fee structure and guide you through each step of creating a comprehensive estate plan.