At KCH Lawyers, we are able to assist in “putting your house in order” so to speak. We do this by providing sound advice regarding the need to have an Enduring Power of Attorney whilst you are alive, the importance of the preparation of a Will and the administration of your estate upon your death.
While nobody likes to think about it too much, inevitably one day you will have to leave your home, business or farm, whether by selling up, retiring or leaving for health reasons.
It is very important to have a succession plan in place that makes the transition easy not only for yourself but also for your family or employees.
According, planning for your family’s future after you’re gone is a very important legal task.
For more information, view our Estate Planning Brochure or read on below.
If you take the time now to make an effective legally binding Will and Testament you can save your family from not only emotional stress but also from financial stress in what will undoubtedly be a difficult time for them.
KCH Lawyer’s will and estate planning lawyers can help:
- Advise you in regard to estate and Probate laws
- Write a will that maximises the inheritance for your family
- Set up family and testamentary trusts
- Advise you in regard to choosing executors and guardians
- Minimise the chance that your will is contested and subject to litigation
- Advise in regard to estate tax (including capital gains) and financial concerns
- Safely store your will and other important legal documents
At the same time as considering your Will we strongly recommend that you also put in place plans for any future incapacity through Power of Attorney, Advance Health Directive and Guardianship documents. This will ensure that if you somehow become unable to make decisions about your finances, your medical treatment or living arrangements then the person or persons who you trust to make these decisions can do so unhindered.
It is a common misconception that estate planning simply involves a will, in most cases it goes beyond drafting a will and it includes:
- The assessment of assets
- The assessment of likely taxation
- Advice regarding the possibility of claims against the estate by third parties
- The protection of assets
Estate planning is an active process of re-evaluating the estate when circumstances in life change, such as:
- Newly married couples or those divorcing
- A change to the family’s asset pool
- A change in working conditions such as the buying or selling of a business
- Changes to superannuation, insurance policies or taxation levels
- The establishment of discretionary trusts
A successful plan is made involving all family members as it will take into account not only provisions for your retirement income but also the plans, aptitudes and existing assets of younger generations.
Contact us to find out more or to arrange a consultation.