Given her fame and fortune, it’s pretty easy for Beyoncé to sing about being “up…
Family Law: let’s talk Wills!
Northern Beaches Mum and member of the local law practice Maspero Legal, Stephanie Maspero shares the importance of getting a properly constructed Will in place.
Depending on my mood at the time (i.e do I need/not need coffee) I love these discussions as my Father and Brother are Family Lawyers and I work part time with them in the family business.
I sat down with Dad and Bro this week (mocha in hand + 2 sugars of course) and asked them to share a couple of interesting and helpful topics around wills with us.
Who will look after your children?
A will is not just about property and this first topic can be awkward and difficult to talk and think about, however it’s super important!
Dad often comes across clients who have not thought about what would happen in the event both parents pass away leaving a child or children behind.
It is painful to think that in the unfortunate scenario where there is no formal agreement (in your will) that DOCS or wrong family members can take control of your children and decide who should be their guardians. So, the moral of this story is to make sure that BOTH parents’ wills contain arrangements for your children and who will look after them.
Get your Super right!
We often come across wills that have been poorly drafted and could write a 10,000 +page book on this topic and not cover them all! And fighting a will in court is not only expensive but traumatic for all parties involved.
A common mistake we see in wills is people putting in details about their superannuation for example I leave 40% to xx and 60% xx.
This is a big no no as your superannuation fund agreement takes precedence over what is written in your will.
When you sign up to a super fund you would have nominated details of who your super goes to, the beneficiaries. This agreement takes priority over anything written in a will so make sure you
- don’t mention superannuation in your will
- review your super agreement so you know what is going to who.
Is it very easy to change these details with your super fund and you usually can change it regularly without penalty.
GOT A BURNING LEGAL QUESTION?
SEND IT TO US, OR DIRECTLY TO MASPERO LEGAL AND WE’LL HIGHLIGHT IN OUR NEXT FAMILY LAW FEATURE!
Maspero Legal is a family business on Sydney’s Northern Beaches with 27 + years of helping clients satisfy their legal needs, and the experience you need and results you want.
Servicing all of Sydney and beyond, their Lawyers believe the most important person in the room (and court) is you and their easy, convenient and flexible services will solve your problems effectively.
With legal services designed to work around your busy schedule, they enjoy using technology to offer a personalised and customised approach in everything we do.
- Level 2, 7 Grosvenor Pl, Brookvale, NSW 2100
- Phone: +61 2 8052 3322
- Email: firstname.lastname@example.org