Our office and phone lines will be closed on Wednesday. We will be contactable via email and our online form.
- 71 St John Street, Launceston
- Mon to Fri 9.00 am to 5.00 pm
- 03 6331 5500
- info@sproal.au
Wills & estate planning
Ready to make or update your will? Take the next step today.
We all like to think that we are going to live forever, but unfortunately, no one is invincible. There are a number of important reasons to make a will as soon as possible:
- Ease the burden for your loved ones - save time, money, and stress.
- Designate a trusted individual to manage your estate.
- Ensure your assets and property go to the right people.
- Safeguard the well-being of your dependent children.
- Minimise the potential for family conflicts.
- Leave clear instructions for your digital assets.
- Support cherished causes and leave a lasting legacy.
- Provide specific funeral directives.
- Ensure a loving home for your beloved pets.
- Attain peace of mind knowing your affairs are in order.
Don’t leave it until it’s too late. Contact us to create or update your will.
You can make a will if you are over 18 years of age and are of "sound mind".
Being of "sound mind" means that you know that you are making a will and understand the nature and effect of the will. Importantly, it means that you can decide how you want your property dealt with when you die and that your will accurately record this. A doctor's advice may be sought for people whose memory or mental capacity is failing.
The critical requirements for making a valid will are as follows:
- The will must be in writing
- The will maker must sign at the end of the will
- Two witnesses must witness the will maker's signature
- The witnesses must sign the will in the presence of the will maker and each other, and importantly
- A beneficiary or the will maker's spouse/partner cannot witness a will. If they do, they could lose their entitlements under that will.
As the formal requirements for making a valid will must be strictly adhered to, it is recommended that you have your will prepared by a lawyer or Trustee company. That’s where we come in.
Expertise and advice to give you the ultimate peace of mind
Although we know how crucial a will is, it’s something we all hope we won’t need too soon. And while it feels as if there’s never a good time to think about doing one, it’s never too early to start preparing for the future (but it can be too late).
After all, if you’ve come to our website or used our services previously, you probably already own a property (or are looking to own a property), so the question is - what happens to that property if you pass away?
To ensure that your legacy is executed as you intend, we can guide you through everything you need to consider and the process involved to give you complete peace of mind.
Before your appointment
We ask that you complete and return our estate planning form before your appointment (this is recommended, but not essential).
Estate planning instructions form
FAQ
What does an executor do?
An executor is responsible for administering your estate. For example, this includes collecting assets, paying debts and taxes, as well as distributing the remaining assets according to the Last Will.
Who cannot be my executor?
An executor may be passed over or removed for many reasons. To avoid any issues, you should not appoint the following as an executor:
- A person who is a minor.
- A person who is of bad character (for example, they have committed a serious crime).
- A person who is overseas for a prolonged period.
- A person who is in ill health.
- A person who doesn’t have legal capacity (they aren’t competent to deal with the estate).
- A person who is of unsound mind.
- A person who has disappeared.
What is an alternate executor?
The alternate executor(s) will assume all responsibility for administering your estate if the executor you selected is unable or unwilling to act or continue to act.
Can my executor or alternate executor also benefit from my Will?
Yes, your executor or alternate executor can still receive gifts in your Will.
When is a child considered dependent?
Dependent children include children who are:
- Minors;
- Attending school or a post-secondary institution full time and are under the age of 25; or
- They are no longer minors, but they cannot support themselves due to a mental or physical condition.
What is a guardian?
A guardian has the same authority as a parent and is responsible for caring for your minor or dependent children.
Who can be a guardian?
The guardian must be an adult of sound mind.
How will property or assets be held if my minor beneficiaries have to wait until a certain age before they receive their inheritance?
Your executor will hold the property in trust until the child reaches their chosen age.
Is there anything I cannot give away?
There are some restrictions on gifts. You cannot give away:
- Your spouse or de factor's property
- Proceeds from financial instruments that already have beneficiaries (such as a life insurance or retirement fund)
- Jointly held property where the other party automatically receives your share upon your death (e.g. Property owned in joint tenancy)
Can I appoint a pet caretaker?
Yes, you can. Alternatively, you can give your executor the option to appoint a pet caretaker for you.
Are funeral directions in my Will legally binding?
No, they are not.
Furthermore, your Will may not be read until after funeral arrangements have already been made.
We recommend that you discuss your wishes with your loved ones now.
What happens if I die without a Will?
We have a blog post that answers this question, you can read it here.
Some common terms explained
Administrator
An Administrator is appointed where there is no will, but may also be appointed where there is a Will but no Executors. They collect the assets, pay the debts and administer the estate.
If there is no Will, the Administrator must distribute the assets in accordance with the Intestacy Rules.
Beneficiary
A person who is to receive an asset or assets (or gift) from the deceased person's estate, whether by being nominated in the will to receive those assets or, where there is no will, by being entitled under the intestate scheme of distribution.
Estate
This term covers all of the assets owned by the willmaker that are capable of being transferred by a will on the death of the willmaker.
Executor
A person or persons who are appointed by the willmaker nominating that person in the willmaker’s will, and then appointed by the Supreme Court. They collect the assets, pay the debts, administer the estate and distribute the assets in accordance with the will.
Intestacy
The name given to describe when a person has died without a will.
Joint Ownership
Not to be confused with Joint Tenants.
This can mean either Tenants in Common or Joint Tenants.
Joint Tenants
A form of property ownership. If you own property as a Joint Tenant you must own equally with the other Joint Tenant or Joint Tenants. When a Joint Tenant dies, that person’s share of the property is not a willable asset because it passes by survivorship to the surviving Joint Tenant or Joint Tenants. Note that when the last Joint Tenant dies, because there is then no other surviving Joint Tenants the property is a willable asset of that last person to die.
Letters of Administration
The name given to the appointment by the Supreme Court of Tasmania of a person to act as the legal personal representative of the estate when there was no will that appointed an executor. There are a number of forms of this type of grant. Where there was no will, the grant is known simply as a grant of Letters of Administration. Where there was a will, but it didn't nominate an executor or the person it nominated has predeceased or is for some other reason unable or unwilling to act, the grant is known as a grant of Letters of Administration with the will be annexed.
Personal Representative
The person or persons who receive a Grant of Probate or Letters of Administration from the Court (Executors or Administrators).
Probate (or grant of Probate)
This is the order made by the Supreme Court granting Probate to the executors. It is the authority which comes from the Court Order that allows the Executor to undertake the estate administration.
Probate is the name given to obtaining the recognition of the Supreme Court of Tasmania that a will is valid, that it is the last known will of the deceased person and that the executor named in the will is the person to act as the legal personal representative of the estate. It is referred to as a grant of Probate, or simply by the word Probate.
Tenants in Common
A form of property ownership. If you own property as a Tenant in Common it may be that you own an equal share with the other owner/s or you may own an unequal share. On your death your share is a willable asset, it does not go by survivorship to the other owner/s.
Testator
The person making the will.
Will
A will is a document that sets out how the will maker wants their property to be dealt with after the will maker has died.
Willable assets
An expression that distinguishes assets that pass under a will.
They are distinguished from assets that a person might regard as their own that cannot be given under a will such as superannuation proceeds that are not paid to an Estate, interests in family trusts, joint tenancy assets of the first person to die, and insurance proceeds that are not paid to an estate.
Want to know more?
For more information on our Wills and Estates services, please click on the following:
Power of attorney
A Power of Attorney is a legal document that appoints a person – the attorney – to make decisions on your behalf on matters related to your financial and legal affairs.
Enduring guardianship
An enduring guardian is a person you appoint to make your personal or medical decisions if you should lose the ability to decide for yourself because of a disability.
Probate or letters of administration
All of this legal terminology can be confusing, but that’s where our friendly and knowledgeable team can step in.
Our wills & estates team
Jack Howe
Lawyer
