Estate planning is the process of developing a strategy that assists in managing your assets, tax minimisation, succession planning and protection of an inheritance from divorce or bankruptcy. We can advise you in these complex matters.
It is also the process of planning and recording your wishes for the distribution of your wealth after death. As this sounds straight forward, it is often assumed that 'estate planning' refers to the preparation of a Will. However, in some cases it's not that simple.
There are aspects of estate planning that go well beyond the Will. For example, how are family trust assets dealt with? What happens to superannuation? And how are jointly held assets treated? And who is best suited to carrying out your wishes, as executor of your Will?
Dealing with these issues requires specific estate planning advice and—in most cases—a review of your family trust deeds, superannuation funds and asset ownership arrangements.
Wills, estates and trusts are complex areas of the law. Estate planning, including the writing of Wills, is an area of law that is far more complex than it first appears—even for people who have relatively modest assets.
Assets that are not held personally—for example, funds held in trusts, superannuation accounts and joint holdings—need to be dealt with skilfully to ensure they are distributed the way their owner intends. In these circumstances it is wise to consult a lawyer with estate planning expertise.
At ABA Lawyers, we understand the importance of Wills, Estates and Trusts, and the sensitivities that come with creating or changing your Will. Do not procrastinate about something as important as having a Will or updating your Will. Please call us for an appointment so we can make this an easy process for you: firstname.lastname@example.org