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WHO ARE WE?
Lord Commercial Lawyers is a boutique law firm
with expert knowledge and experience in Wills, Estates and Probate
Law. The law on Wills Estates and Probate is complex and we have
many years experience. We strive to deliver efficient, professional
advice and services to our clients.
From a simple Will to complex Estate Planning
we offer you a personalised service at competitive prices. Below is
a just a few of the areas we can assist. Call Andrew
Lord today on (03) 9600 0162 to see how we can
help you.
WILLS
It is important to ensure that when you die your
estate goes to the people that you care about. It is only by
having a valid and enforceable will that you can be certain this
will occur.
Every adult should have a will even they think
there that they do not have a lot to leave.
If you do not have a valid binding will when you
die your estate will be distributed using a fixed formula which has
been determined by the government. This formula is applied
regardless of your situation. It may mean that your estate is not
distributed the way you would want to be.
To download our information sheet on wills click
here.
POWERS OF ATTORNEY
For many people it is important to ensure that
if they are absent or ill that someone is authorized to make
decisions and sign documents on their
behalf.
A power of attorney is a formal document
authorizing a person to do these things.
MEDICAL POWERS OF ATTORNEY
An Enduring Power of Attorney (medical
treatment) is a particular type of power of attorney which allows
you to appoint someone to make medical decisions on your behalf
when you are no longer capable of doing so.
To download our information sheet on the
standard powers of attorney click here.
PROBATE OR LETTERS OF
ADMINISTRATION
When a person dies, it is often necessary to
take a number of legal steps so that:
- Access to bank accounts and superannuation funds
can be obtained;
- Real estate and other assets can be sold;
and
- Your estate can be distributed in accordance
with your will.
If a person dies with a legal will usually a
grant of probate of the will has to be obtained. A grant of
probate gives the executor of the will legal authority to deal with
the estate in accordance with your will.
LETTER OF
ADMINISTRATION
Where a person dies without a legal will then
the assets of the estate must be distributed in accordance with
formulas that have been predetermined by the
government. Notwithstanding this it may still be necessary to
obtain letters of administration from the Supreme Court, which will
allow the assets and liabilities of the estate to be dealt
with.
Letters of administration authorize a person
(called an administrator) to administer the deceased's estate and
distribute assets.
SUPERANNUATION DEATH
BENEFITS
When a person dies, it is necessary to take a
number of legal steps in order to gain access to his or their
superannuation funds. This is different to obtaining a grant of
probate and dealing with the estate although often there is an
overlap.
Your Superannuation does not necessarily have to
be distributed in accordance with your will.
Depending on whether you have completed a
binding death nomination your superannuation death benefit can only
be paid out to persons who are dependants of the deceased. It is up
to the trustee of the superannuation fund to determine who are
dependants and how much of the superannuation fund each dependent
will receive.
The usual procedure is that:
- A dependant includes a spouse (which includes a
spouse through marriage and a domestic partner, who is a person
who, although not legally married to the deceased, lived with that
person on a genuine domestic basis as the husband or wife of the
deceased) or any other child (which includes a legally adopted
child, a step child or an ex-nuptial child) of the
deceased
- A person who can show they were financially
dependent upon the deceased at the date of death
Generally if there is a will, the trustee of the
superannuation fund will distribute the death benefit in accordance
with the terms of the will.
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