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52% of Australians do not possess a legal Will.
After a lifetime spent working, you want certainty that your assets will be protected and distributed according to your wishes. Effective estate planning helps safeguard your legacy, provide for your loved ones and ensure trusted people can make decisions on your behalf if required.
At Maguire & McInerney, we assist individuals and families across Wollongong and the Illawarra with all aspects of Wills, Estate Planning and Estate Administration.
Our Wills & Estate Planning Services
Our Wills & Estates team combines practical legal advice with a clear understanding of the personal and financial considerations involved in estate planning and estate administration matters.
We assist clients with:
- Estate planning;
- Making and updating Wills;
- Testamentary trusts;
- Selecting Executors;
- Enduring and General Powers of Attorney;
- Enduring Guardianship appointments;
- Probate applications; and
- Letters of Administration.
Whether you are preparing for the future or dealing with the estate of a loved one, we provide clear guidance and practical solutions tailored to your circumstances.
Estate Planning
Estate planning extends beyond simply preparing a Will. It involves a strategic approach to managing, protecting and transferring your assets while ensuring trusted individuals can make decisions on your behalf if circumstances require.
An estate may include real estate, personal property, investments, business interests, trust assets, digital assets, insurance policies and superannuation interests, as well as liabilities and debts.
Our experienced team works closely with clients to develop tailored estate plans that consider family circumstances, asset protection strategies and long-term objectives. A comprehensive estate plan may include a Will, testamentary trusts, Powers of Attorney and Enduring Guardianship appointments.
By planning ahead, you can minimise uncertainty, reduce the risk of disputes and help protect your family’s financial future.
Making a Will
A Will is a legal document that sets out how your assets will be distributed after your death. It serves as a testament to your wishes and helps ensure those wishes are carried out.
Creating a Will is one of the most important steps in protecting your family and safeguarding your legacy. Our Wills & Estates team assists clients in preparing comprehensive Wills that reflect their intentions and personal circumstances.
We provide advice regarding asset distribution, specific gifts and bequests, guardianship arrangements for minor children and the structuring of estates involving trusts, companies and other complex assets. We also advise on potential taxation considerations, including Capital Gains Tax implications that may affect beneficiaries.
Our goal is to ensure your Will accurately reflects your wishes and provides certainty for those you leave behind.
Testamentary Trusts
A testamentary trust is a trust established through a Will that comes into effect upon death. Testamentary trusts can provide greater flexibility in the management and distribution of assets and may offer asset protection and taxation advantages for beneficiaries.
Whether a testamentary trust is appropriate will depend on your personal circumstances, family structure and estate planning objectives. Our lawyers can advise on the suitability of testamentary trusts and prepare Wills that incorporate trust structures where appropriate.
Selecting an Executor
Appointing an Executor is one of the most important decisions when preparing a Will. An Executor is responsible for administering your estate, carrying out the terms of your Will and managing the estate administration process.
Whether it is a family member, close friend or professional adviser, selecting the right Executor requires careful consideration. Factors such as trustworthiness, competence, availability and willingness to act should all be considered.
Our team can guide you through the selection process and help ensure your chosen Executor is well placed to fulfil their responsibilities.
Enduring & General Power of Attorney
A Power of Attorney is an important estate planning document that allows you to appoint a trusted person to make financial and legal decisions on your behalf.
A General Power of Attorney is only effective while you retain the mental capacity to make your own decisions. If you lose capacity, the General Power of Attorney ceases to operate.
An Enduring Power of Attorney continues to operate even if you lose mental capacity due to illness, injury or age-related decline. For this reason, Enduring Powers of Attorney are commonly included as part of a comprehensive estate plan.
Our lawyers can assist with preparing both General and Enduring Powers of Attorney, ensuring your affairs can continue to be managed by someone you trust if required.
Enduring Guardianship
An Enduring Guardianship appointment allows you to nominate a trusted person to make healthcare, lifestyle and medical decisions on your behalf if you become incapable of making those decisions yourself.
Enduring Guardianship can play a vital role in planning for future circumstances involving illness, injury, declining mental capacity or advanced age.
Our team can assist you in establishing an Enduring Guardianship appointment that clearly records your wishes and ensures your personal and medical decisions are made by someone you trust.
Estate Administration
When a person passes away, their estate must be administered in accordance with their Will or, where no valid Will exists, the rules of intestacy. Estate administration can involve obtaining Probate or Letters of Administration, identifying assets and liabilities, paying debts and distributing assets to beneficiaries.
Our team assists Executors and Administrators throughout the estate administration process, helping ensure legal obligations are met and estates are administered efficiently.
Probate
Probate is the legal process of validating a deceased person’s Will and authorising the Executor to administer the estate.
Administering an estate can be overwhelming during an already difficult time. Our Probate team provides guidance and support throughout the probate process, helping Executors navigate legal requirements and fulfil their obligations.
We assist with obtaining Grants of Probate, preparing the necessary court documents, addressing estate liabilities and facilitating the distribution of assets in accordance with the Will.
Our objective is to streamline the probate process and ensure estates are administered efficiently and correctly.
Letters of Administration
Letters of Administration are required where a person dies without a valid Will or where there is no Executor able or willing to act.
In these circumstances, the Court may appoint an administrator and issue Letters of Administration, granting authority to manage and distribute the deceased person’s estate.
Applications for Letters of Administration are subject to specific legal requirements and timeframes. NSW law also determines who may apply for administration and the order of priority among eligible applicants.
Our team assists clients with obtaining Letters of Administration and provides ongoing guidance throughout the administration process, helping administrators navigate their legal responsibilities and distribute estate assets appropriately.
Speak With Our Wills & Estates Lawyers
If you require advice regarding a Will, estate planning matter, Probate application or Letters of Administration, our experienced team can help.
Contact us today to discuss your circumstances and obtain practical advice tailored to your needs.
Steps To Get Started
FAQs
No, testamentary freedom forms the basis of Australian estate law, allowing individuals to distribute their assets as they see fit.
If someone dies intestate, or without a valid Will, a spouse or children are the primary beneficiaries and an application will need to be made to the Supreme Court in order to access the Estate, however it is not required by law that they are included or given preference when a Will is created.
In NSW, a will can only be contested by an immediate family member or partner of the deceased. A claim must be filed with the court within 12 months of a death.
On average, it takes between 9 months and a year to settle a will. This can be a confusing process, however Maguire & McInerney have experienced lawyers, ready to assist.
Yes, various limitations exist to protect eligible persons from being left without adequate provision, and courts are able to reallocate the distribution of assets in an Estate should sufficient evidence be provided or arguments made.
Estate Planning is the broad term that encompasses end of life planning, including Power of Attorney, Trusts and other documentation. Writing a Will is included in Estate Planning, and refers to the division of property and assets following the death of an individual.
There are alternatives to solely distributing assets via a Will including gifts made inter vivo gifts (those made during one’s lifetime rather than posthumously), through modest legacy or specific bequest.
There are many reasons a parent wouldn’t include a child in their Will, including estrangement, pre-existing financial arrangements, or concerns about the child’s ability to manage their inheritance.
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