What You Need to Know About Making a Will From an Experienced WA Lawyer

Making sure your possessions are allocated how you want them to be after you pass away starts with creating a will. Even though a lot of information is available online, understanding the nuances of estate planning can be intimidating.

It is invaluable to seek advice on how to make a will in WA from an experienced Western Australian lawyer who specialises in wills and estates. You may be confident that your will is correct, suited to your situation, and complies with the law by getting professional advice. Let’s breeze through this blog and get an idea of how to make a will from an experienced lawyer!

1. Go for an introductory call with the lawyer

Having a first phone or video call is the next step once you’ve chosen the lawyer you wish to work with. The lawyer will inquire about your name, date of birth, and family history in addition to gathering details about your assets and financial situation.

To inform you of how they may assist you, the lawyer will typically want a general understanding of your circumstances, so you don’t need to go into too much detail at this time.

During this conversation, you are free to ask any questions regarding the lawyer’s qualifications, experience, will-drafting procedure, costs, and payment plans. For the preparation of Wills and more, some probate lawyers in Perth charge set fees; others bill on an hourly basis.

2. Questions that your lawyer will ask:

Here are some things that your lawyer will ask and consider before making the will in Perth WA:

1. Which particular assets and property do you own? A list of your assets influences whether you need to set up trusts to avoid probate and aids a lawyer in determining your tax liability.
2. For whom do you wish to provide? Your lawyer must be aware of your marital status, divorce status, and child status. In addition, would you like to give assets or heirlooms to friends, family, charity, or other institutions?
3. Do your heirs have to share the same inheritance? If not, do any assets you would rather see go to different people?
4. What specific objectives do you have for your will? For example, you might want to use assets to pay for a grandchild’s college expenses or ensure a youngster with special needs is cared for after you pass away.
5. Who should be listed as a guardian if you have small children? Even though it’s not a pleasant subject, it must be discussed in the case that you die before your child reaches adulthood.
6. Who should be your will or any trust’s executor? This someone should be someone you can trust, someone who agrees with you on most issues and whose financial management is not influenced by their interests.

If you don’t know all the answers right away, don’t stress. A knowledgeable estate planning lawyer will guide you through the procedure and assist you in focusing on the crucial elements of your specific circumstance.

3. Questions that you need to ask your lawyer:

It’s essential to understand the intent and elements of a will when drafting one. Here are some important queries to ask that the best wills and probate lawyers in Perth should answer easily:

• What needs to be included in my will? Your preferences for your possessions, family, and assets should be specified in your will. This comprises:
  – Disposition of your home and property
  – Distribution of assets like shares, cash, vehicles, or jewellery.
  – Designation of who will manage your assets
  – Funeral arrangements
  – Guardianship for minor children
  – Debt management plans
• How can I make sure my kids are taken care of? Make a guardian appointment in your will for any minor children you may have so they can be looked for. Take into account aspects like the guardian’s way of life, your relationship with your kids, your financial security, and your readiness to assume this role.
• How do I designate an executor, and what does it mean? Managing your estate and ensuring your will is carried out are an executor’s responsibilities. Select a reliable person who is able and willing to carry out this responsibility. Keep things like your relationship with them and any possible conflicts of interest in mind. Consider designating a compensated independent executor if you’re not convinced.
• To whom should I give benefits? Your possessions and assets are given to your beneficiaries. Ensure that you include their names, contact details, and the precise things or parts of your assets you want them to inherit.

4. Documentation, drafting & review

Your lawyer will draft your Will and any other estate planning documents you need after they have acquired the information required to prepare them. It may take a few days to several weeks to complete this process. Your complexity and the lawyer’s current schedule will determine how long it takes.

In order to get a rough notion of when you might hear back from the lawyer, you might wish to ask them in advance for an indication of their timing. You should be able to look at the documents and ask questions once your lawyer has prepared them.

Conclusion

To conclude, we have discussed all the essential pointers required to make a Will by a reputed lawyer. Now that you know how to make a will in WA (at least the basics to get started), complete your Will as soon as possible with an experienced lawyer. Having a written Will reflecting your desires and safeguarding the people you value most will provide you peace of mind.