Creating your will
A will is a crucial legal document that ensures your assets and wishes are honored after your passing.
At Byrne Law, we specialize in estate planning and crafting legal wills to ensure your assets are protected and your wishes honoured. Whether you're searching for a lawyer for wills near me, or require expert legal advice, our law firm is here to assist.
To create or update your will contact us today on 0403 613 185.
Who should have a will?
Any person over the age of 18 years with testamentary capacity should have a will. Testamentary capacity is a legal term that means the person understands the purpose of their will, has the general knowledge pertaining to their estate, and comprehends the relationship of the people who will benefit from their estate. In other words, they understand the nature of making a will.
Testamentary Trusts
Alternatively, if you have assets worth more than $500,000, or have young or disabled children you might want to consider a Testamentary Discretionary Trusts (TDT). Sometimes refered to as a Will Trust or a Trust Under Will - a TDT can attract advantages for beneficiaries such as tax advantages as well as additional asset protection.
Expert Estate Planning, Legal Wills Services and Trusts.
Our law practice at Byrne Law provides tailored solutions for individuals and families across Victoria, including:
Legal Advice & Services – Our experienced legal attorneys offer guidance on estate distribution, trusts, and probate matters.
Lawyer Near Me for Wills – Get convenient and local legal support for drafting and updating your will.
Wills in Bendigo, Ballarat, Talbot, and Maryborough – Secure your legacy with a professionally drafted will by Byrne Law.
Asset protection - Give your children and family greater peace of mind and protection with a Testamentary Discretionary Trust prepared by Byrne Law.
Byrne Law have extensive experience creating wills.
At Byrne Law, we really do practice law differently.
No big offices
No big staff wages
No big overheads
No overpriced bills, and
No hourly or hidden fees.
Just good lawyers, achieving great results.
We travel to you across central Victoria, and Central Gold Fields at a fixed price. We work your hours… if weekends work for you, they work for us.
Contact us today on 0403 613 185.
We engaged Sarah at Byrne Law to help with legal documents and were impressed by her expertise, empathy, and understanding of our needs. We're incredibly grateful for her support and feel reassured knowing our future is in safe hands.
Leanne and Anthony Salisbury
We know creating or updating a will can be confusing. So we've prepared responses to many common questions about wills, estates, assets, trusts and more.
FAQs
Your estate is all the assets and liabilities you own or owe at the time of your death. For example, your home, bank accounts, share portfolios, jewellery, house hold items, motor vehicles superannuation etc.
Want to include your assets in your will? Contact us today on 0403 613 185.
Yes, is the simple answer.
Often younger people believe because they don’t own property or have a large savings account, they don’t require a valid will, but in reality, they may actually have assets and not know they do, such as superannuation for example.
It is also important to remember that your asset pool may have significantly changed from the time you made your will to the time of your death.
Need to create or update your will? Contact us today on 0403 613 185.
The cost of a will starts at $399 for an individual will or $699 for a couple.
After we have had a chat we will be in a better position to advise you if you require a basic or more complex will.
Our fees are fixed, and we come to you.
Need help to create your will? Contact us today on 0403 613 185.
Btw, we also offer Power of Attorney and Appointment of Medical Treatment Decision Maker (AMTDM) documents and can create bundled price.
The unfortunate answer is no.
Victoria does not have a central will registry as such, and so Byrne Law hold your original will in our safe, and suggest that you let your executors/ trustees and or love ones know where your original will is being held.
Need to securely store your will? Contact us today on 0403 613 185.
Many homemade or kit wills are valid, but not all.
It will depend on whether the will complies with the requirements of the law. The danger of making a will without full knowledge of the legal requirements is you may leave out vital information which you did not understand was required at the time of making the will, and as a result your will may be invalid.
Need help to create your will? Contact us today on 0403 613 185.
The first question we ask you is "who would you like to appoint as your executor/ trustee?".
This is an important question as this person or people will look after your estate after you have died and make sure all your directions are met. We also suggest that you ought to appoint two executors/ trustees in the event that one executor/ trustee cannot act or dies before you.
You then need to think about where you would like all your assets and belongings to go and who you would like to benefit from you after you pass.
Need help to create your will? Contact us today on 0403 613 185.
The answer to this question very much depends on what your assets are. Here are some examples of assets that you may include in your will.
Property:
If you own a home or other property with your partner or spouse it will depend on how you own the property as to whether the property will form part of your will and be passed on to your beneficiaries, or if your share of the property will go to your partner upon your death, which we refer to in law as survivorship. (Also see Property Law.)Superannuation:
Your Superannuation does not automatically become part of your will, it is important that you ensure that your binding nominations with your superannuation fund are up to date as it is this nomination which sets out how your superannuation funds will be disturbed after your death. If your nominations are not up to date, then it is usually the case that your superannuation is paid to your “legal person” (your executor of your will) and the superannuation funds are paid into your estate.Life Insurance:
The proceeds from any life insurance do not form part of your estate.Trusts and Companies:
You cannot will a trust or a company however this is a more complex area of law which we would need to fully discuss in conference.
Want to include your assets in your will? Contact us today on 0403 613 185.
If you die without leaving a valid will, you are considered, in law, to have died intestate and the laws of intestacy are applied.
The law of intestacy is a state law which determines how your assets, and liabilities, if any, will be distributed. An administrator (usually the person closest to you at the time of death) ie partner or child applies to the Supreme Court of Victoria for Letters of Administration. This is not always favourable and your estate may not be distributed according to your wishes.
Need help to create your will? Contact us today on 0403 613 185.
We will need to undertake a verification of identity, so a valid driver’s licence or other licence, Medicare card or proof of age card.
We also suggest you think in advance about your executor/ trustee and who you would most like to benefit from your estate.
Need help to create your will? Contact us today on 0403 613 185.
We help create a legal will for customers across central Victoria, and Central Gold Fields including clients in Talbot, Ballarat, Bendigo and Maryborough and surrounding areas.
Require over the phone or remote assistance? Please reach out.
Need help to create your will? Contact us today on 0403 613 185.
Not quite! A will is just one part of estate planning, but estate planning is much broader.
A will is a legal document that outlines how your assets will be distributed after your death. It also allows you to name an executor and guardians for any minor children.
Estate planning, on the other hand, includes a will but also covers other aspects like trusts, and powers of attorney. It ensures your assets are managed properly both during your lifetime and after your passing.
Think of a will as a single tool, while estate planning is a comprehensive strategy to protect your wealth and loved ones.
Need help to create your will or with estate planning? Contact us today on 0403 613 185.
Depending on the size of the assests prior to your death, the first role of the executor/ trustee of your will could be to make an application to the Supreme Court of Victoria for a grant of Probate.
Probate is a document issued by the Supreme Court which confirms that the person who died had a valid will which can now be administered and distributed to the beneficiaries of that will. You can read more about Probate here.
Need help to create your will or help with probate? Contact us today on 0403 613 185.
These are separate documents. Your Enduring Power of Attorney ceases upon your death. Whereas, executors/trustees (which are appointed in your will) will look after your estate in accordance with you will after your death.
You can read more about Power of Attorney here.
Need help to create your will or power of attorney? Contact us today on 0403 613 185.
Yes and no… the main difference is upon your death your will allows your assets to be directly distributed to your beneficiaries whereas a Testamentary Discretionary Trust (TDT), which also takes effect upon your death, allows for controlled distribution of the assets by the Trustee to the beneficiaries, and upon the discretion of the Trustee.
A TDT offers greater protection for minor beneficiaries or beneficiaries who have a disability and cannot manage money matters as well as offering asset protection and minimize tax implications.
Considering a Testamentary Trust? Contact us today on 0403 613 185.
The cost can vary depending on the number of trusts required and other factors, however they commence at $990.00.
After we have had a chat we will be in a better position to advise you if you require a basic or more complex will.
Our fees are fixed, and we come to you.
Need help to create your trust? Contact us today on 0403 613 185.
Jane and John Doe are married and have three young children all under 10 years of age, they own their own home subject to a mortgage valued at $800,000 and have some savings in the bank. Jane and John made simple wills two years ago, leaving their estates (all their assets) to each other, then in the event of either of them predeceasing the other, their estates are to be held for their children upon turning 21 years old. Sounds simple enough.
John dies leaving his share of the estate to Jane as set out in his will.
Jane continues to live in the home she owned with John with their children. Two years later Jane meets Taz and they marry, with Taz moving into the home Jane owned with John. Jane updates her will leaving her estate to Taz. Jane and Taz have two children together. Jane dies three years later. Taz remarries one year later.
In this example Jane and John’s three children have not been provided for from the proceeds of their parents’ estates. If a TDT was an option for either John or Jane, their three children would have been protected by the benefits the TDT offers minor beneficiaries meaning the children would be cared for and looked after as their parents initially intended.
Considering a Testamentary Trust? Contact us today on 0403 613 185.
