Estate Planning is more than just the preparation of a Will. A comprehensive, individually-tailored estate plan not only allows you control the future of your assets, but allows your wealth to reach full potential by ensuring the appropriate administration of your estate and providing for life’s unforeseen contingencies.
Effective Estate Planning is complex. At Court Legal, we know that there are no simple answers to creating the best Estate Plan. We examine your circumstances with personalised expertise and conduct in-depth discussions to identify your Estate Planning goals. We draw upon many decades of accumulated experience in tailoring individualised Estate Plans, and commit to utilising creative legal solutions to protect you and your family’s interest and to maximise the monetary potential of your assets.
You may need to review your Estate Plan from time to time. We can advise you on the best strategy to adapt and revise your existing plan to suit your changing circumstances.
Estate planning can encompass:
- Asset protection
- The preparation of a Will including determining who is best appointed Executor of your Will
- Planning for illness or incapacity including determining whether a Power of Attorney and/or Appointment of Guardian are required and who should be appointed in that role
- Probate avoidance
- Minimising potential future Estate Litigation
Why Do I Need An Estate Plan?
Approximately half of all Australians pass away without a valid Will, leaving their Estates open to dispute and expensive litigation. A tailored Estate Plan will not only allow your assets to be distributed as you choose, it will save your family and beneficiaries from costly proceedings. Properly designed, it removes unnecessary administrative fees and tax burdens that can result from reliance on simplistic Will kits or pro forma Estate Plans.
Estate Plans drafted by experienced lawyers provide protection for your children’s inheritance should their relationships break down. You can ensure that your assets are retained by your intended beneficiaries, rather than their former partners.
Your Optimal Estate Plan here at Court Legal is we can assist you with minimising tax liability via the creation of testamentary or discretionary trusts. If you have specific requirements for the distribution of income from your assets, we can also incorporate trusts into your Estate Plan to assist vulnerable beneficiaries or to allow for income splitting and asset protection for your beneficiaries, or assist you with creating life interests – or other types of interests – in an asset for specified periods of time.
A Will is a legal statement by which you name the people you want to receive your property and possessions when you die.
If you do not have a Will or a valid Will then your property will be distributed according to the laws of intestacy. This may result in the distribution of your property in the way you would not have wanted.
If you do not leave a Will, the legal procedures in administering your estate are more complicated, costly and time consuming. This may cause unnecessary expense, worry and even hardship to your family.