Formally known as a last will and testament, a will is an important component of planning any estate properly. A will is a legal document which serves to allocate a person's assets, finances, and property upon their death.
If you feel a will written by your relative has been created through unfair means, you have the right to hire an attorney and protest the will in court. Under the family protection law, you can apply to family court or a high court asking for compensation if you have been left out of the will of the deceased when you are the husband, wife, civil partner, child, grandchild, dependant step child or parent in relation to the deceased. The court will examine your claims and then make a decision as to whether the deceased had an unfulfilled moral duty towards your maintenance or support.
It's been several months since a loved one passed away and a collection letter arrives at your door. It asks you pay a $2,500 balance that your mother left on her credit card. Or the creditor might be ACS Education Services looking to collect $30,000 on a student loan that your adult child left behind after an accident.
Your New Year to-do list may include getting an estate plan. The process of putting together the documents that make up this plan is often overlooked or postponed. As a result, if you find yourself pushing this item lower and lower on your list, you are not alone.