Parents may struggle with the decision of whether or not to exclude a child from their will when planning their estate. This question is not only filled with strong emotions but also has many legal complexities. We at Strategic Lawyers know how crucial it is to give you straightforward and precise advice to help you deal with this difficult situation. Wills and estate law is filled with many legal and practical potential consequences, which is why seeking professional legal advice is the best course of action to ensure your needs are taken care of.
Comprehending the legal system:
In Australia, the laws surrounding wills and inheritance vary between states and territories. However, there are some general principles that apply across the board. While you have the freedom to distribute your estate as you see fit, you also have a moral and legal obligation to provide for your dependents, including your children.
It is not against the law to exclude a child from your will, but it may be disputed in a legal proceeding. According to the Family Provision Act, if a child is not included in a will, they can ask for more inheritance if they can prove that they have not been adequately accounted for.
Factors to Consider:
Before choosing to exclude a child from your will, consider the following factors:
- If your child has a disability or ongoing medical expenses that require significant financial support, a court may allow them to receive a portion of your estate.
- If you don’t have a good relationship with your child and you want to exclude them from your will, you need to explain why you made that decision. This can help avoid legal disputes.
- If you don’t include your child in your will, there is a higher chance that they may legally contest it. Make sure your will is current, easy to understand, and prepared by a professional to reduce the chance of disagreements.
- If you don’t want to completely leave a child out of your will, you can give them a smaller portion of your inheritance or set some conditions for them to receive it. You can set conditions for accessing the inheritance, such as reaching a certain age or achieving certain goals.
Looking for a wills and estate lawyer in Townsville?
Planning for what happens to your assets after you pass away can be difficult and involve strong emotions. It’s important to get legal advice from a professional firm like Strategic Lawyers to make sure your wishes are followed. Our team of lawyers who are experts in estate planning can assist you in understanding the legal aspects of excluding a child from your will, if you choose to do so, as well as the ramifications of such a decision. A professional team can offer personalised advice based on your specific situation and create a will that reduces the likelihood of disputes.
You can choose not to include your child in your will, but doing so can have legal and emotional effects. It is important to consider all of your options and engage a professional legal team to help you through the process if you want your wishes to be respected. At Strategic Lawyers, we aim to give you professional guidance and assistance so that you can make well-informed decisions regarding your estate planning. Get in touch with us today to talk about your requirements and learn how we can help you protect your legacy.