A Will is a legal document that allows you to choose who should benefit from your estate after your death. If you do not have a valid Will when you die, your intentions will not be known and your assets will be distributed according to a fixed formula.
Wills can be quite simple or very complex, depending on your individual set of circumstances. Once you have a Will drawn up, you can rest assured that your estate will be distributed according to your wishes.
Please contact us for further information about drawing up your Will, changing your Will, guarding against challenges to it or creating a testamentary trust to care for your loved ones.
Powers of Attorney are often known as ‘living wills’. Powers of Attorney operate while you are alive, but incapable of acting for yourself.
These documents nominate the person you would like to take care of your financial, medical and personal matters in the event you are unable to do so, because of illness or absence.
Set your mind at ease knowing your best interests will be taken care of, by granting Power of Attorney to a person of your choosing. Our experienced team will help you through every step of the process.
In Victoria, the person administering a deceased estate is often required to obtain a Grant of Probate or Letters of Administration.
This grant allows a person to deal with the assets and liabilities of an estate, and will normally be required in circumstances where funds are deposited with a bank or real estate is to be dealt with.
Each estate is different, so it’s a good idea to seek legal advice about your position before deciding whether it is necessary for you to obtain a grant. At Russo & Russo we welcome your inquiries.
In Victoria, you have the right to challenge a Will where a deceased person has not met his or her responsibility to provide for you.
Please contact our office for more information about estate challenges.