THE IMPORTANCE OF MAKING AND MAINTAINING A VALID WILL
We understand what it means to lose a loved one, however what you don’t want is a tangle of legal and financial affairs left without having made a proper and valid Will.
KEEP YOUR WILL IN A SAFE PLACE
A Will is an important document and should be kept in a safe place. For example, it can be left with a legal practitioner, at a bank or in a private safe. The Executor, or a relative, should be told of the Will’s whereanouts so that it can be easily located. The Executor could also be given a copy of the Will in a sealed envelope.
We therefore recommend that you contact Mr. Frank Costanzo, Principal, or Mr. Attilio Costanzo, Lawyer, both of Costanzo Lawyers as soon as possible to arrange a mutually convenient appointment to discuss your particular estate requirements and to provide instructions for us to draw your Will. The initial appointment and discussion is free.
“PEOPLE WHO FAIL TO PLAN, PLAN TO FAIL”
If an individual dies without leaving a Will an administrator will be appointed by the Supreme Court of Victoria to distribute the deceased’s person’s assets. The administrator will usually be the deceased person’s next of kin. The Supreme Court may order reasonable payment for that person out of the Estate for acting as administrator.
PREPARING A WILL
In preparing a Will, an individual can choose someone they trust to administer their Estate. This person is known as an Executor. An executor has authority to act as the deceased person’s personal representative immediately after death. Furthermore, if a person making a Will has young children, he or she can appoint in the Will a trusted friend to be guardian of those children until they reach 18 years of age. Directions can also be made as to how the estate should be invested until that time.
A person over 18 years of age can be a legal guardian for a person under 18.
Guardians are usually relatives or family friends – responsible people well known to the person making the will. The guardian is responsible for the care of the infant child making sure that they are clothed and fed, that he or she is enrolled in and going to school, and that they are taken to the doctor when the child is sick, a guardian should have a loving and compassionate attitude towards the wellbeing of the infant beneficiary.
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