I am a Beneficiary of a Will – What Next?

It is important to know the definition of a beneficiary of a Will. A beneficiary is any person or entity (such as a charity) that receives a gift or benefit from the estate of somebody who has passed away.

In our article today, we will discuss on some frequently asked questions on the rights of a beneficiary of a Will.

1. Can a beneficiary ask for a copy of the Will?
Yes. All beneficiaries name in the Will of a deceased person is entitled to receive a copy of that Will.

2. When should a beneficiary be informed of his/her entitlement under the Will?
While there is no specific legal time limit for this, the executor should inform you as promptly as possible as to your entitlement under the will.
Besides that, a beneficiary is also entitled to know whether a Grant of Probate has been applied for and what stage the administration of the Estate is up to.

3. Can a beneficiary make a claim for a larger share under the Will?
Even if you are already named as a beneficiary in a will, you can make a claim for a larger share if you believe you have been unfairly provided for. It is at the discretion of the Court to decide whether the distribution of assets should be different from what is specified in the will.
The Court may decide in favour of the beneficiary if the Court finds that the deceased failed to provide adequately for the maintenance and advancement of someone that they had a responsibility for.

4. What happens if the beneficiary named in the Will is a minor?
In these circumstances, the named executors to a Will also then act as trustees of a fund set up on behalf of the children. That is, they become administrators and controllers of the assets left to the child or children.

If you would like to know more about the rights of a beneficiary or if you would like to prepare a Will, Straits Lawyers are now offering an online package for Advance Care Directives and Wills. Simply purchase our package via this link: https://straits-lawyers.square.site/product/will-and-advance-care-directive-package-/13

Alternatively, you can email us at info@straitslawyers.com or call at 08 8410 9069 to arrange an appointment.

Please note that this article does not constitute legal advice.