In Australia, testamentary freedom (being able to give your estate to anyone under your Will) is balanced by laws that allow Courts to use their discretion and ensure that eligible persons are adequately provided for from the proceeds of the estate.

When an individual dies leaving a Will, depending on the type, size and value of the estate, the person named as executor will likely need to apply to the Supreme Court for a grant of probate.

It is truly important to have effective arrangements in place to deal with the death of a business owner, as successful business succession requires much care and considerable thought.

Many clients complete a Will and then fail to revisit it for years; it’s concerning that some never do. A Will is not a static document that once signed can be forgotten.

An estate plan, including a will, are not static documents. It is not difficult or necessarily expensive to change a will. It can be amended, modified, updated or even completely revoked at any time.