Experts in Wills, Estates & Probates in Newcastle
Woodgate Lawyers in Newcastle can help you manage every legal aspect of your property, including wills, estates, and probates.
What is a will ?
A will is a legal document that lets you decide what happens to your estate after your death. Your estate includes everything you own, including your home, land, car, money, insurance policies, shares, jewellery, pictures, etc. If you bequeath something to others, then these people are known as your beneficiaries. By setting up a will, you’ll have the peace of mind knowing that your assets will be distributed according to your wishes.
Should I make a will ?
Yes. Wills ensure that family members and other dependants receive the property you wish them to have. If you don’t set up a will, then your assets will be distributed in accordance with a rigid statutory formula, which might not always be in the best interests of those you care about. Our solicitors can help you to set up a professional will tailored to your exact wishes.
What’s an executor ?
An executor’s task is to distribute an estate according to a deceased person’s will. They’ll usually also see to it that any funeral, administration expenses, debts, and taxes are paid before distributing the assets to the beneficiaries.
An executor will make an inventory of everything the deceased owned or was entitled to, such as their home, money, furniture, household appliances, investments, superannuation, and even holiday pay from work. Sometimes these assets will have to be valued. Next, an application is made to the Probate Registry of the Supreme Court for a grant of probate. Many executors choose to get help from a solicitor in order to obtain probate and administer an estate, and our experienced team can assist you in this often complex process.
Is it always necessary to obtain probate ?
Not always. If the assets of the estate are relatively low in value, it may not be necessary to obtain probate. Woodgate Lawyers can advise you on your particular circumstances.
How we can assist you with probate
Woodgate Lawyers can:
- Advise you on your rights and responsibilities as an executor
- Prepare and help complete the application needed for probate
- Assist you with identifying and collecting the deceased’s assets
- Advise you on the legal order in which debts must be paid and assets
- Explain the legal order of distribution of the estate when there’s no will
- Draw up a statement of assets for realisation and distribution to the