WILLS & ESTATE PLANNING
One of our focuses at Life Estate Planning Lawyers is helping you to understand how vital it is to have in place a well-prepared estate plan including a valid will. The combination of your will and an estate plan, including a power of attorney and appointment of enduring guardian, help to ensure your assets are protected and distributed to the people you love and care for, in the way that you intended.
Your will is a legal document that clearly sets out your intentions on how you want to distribute your assets when you die, such as to your family, friends or charities. A will also allows you to appoint people you may wish to be your children's guardian.
There are several reasons to have a will in place:
you reduce the risk of dying intestate, as it is known, and your assets being distributed according to the NSW intestacy laws;
you ensure that your assets are inherited by the people you want and, in the proportions or manner you wish;
your intentions are expressly set out for your family, friends and beneficiaries and the administration of your estate is less difficult and expensive;
even the smallest of estates and the simplest of family structures benefit from the making of will; and
more complex family structures such as blended families, benefit greatly from the intentions clearly set out in your will.
Your estate includes all the types of property you own, including, amongst other things, real estate, bank accounts, shares and businesses but also special assets such as insurance and superannuation. You may own your assets individually or with another person. Each asset needs to be considered separately including whether there are any debts.
We can help you:
identify the extent of your estate including superannuation, assets and debts;
by liaising with your financial advisers including your accountant to understand the extent of your estate and any financial issues; and
by advising you on how to plan and preserve your estate for yourself and those you intend to share it with.
We can also help you with understanding your estate and how an appointment of an enduring guardian and attorney to deal with your estate is vital to your complete estate plan, should you become incapacitated.