Wills and Estate Planning Services
Estate Planning
When considering making a Will you need to give very careful consideration to your individual circumstances and the assets and people you wish to protect. Often, what most people require is an estate plan.
• Protection of wealth through asset protection strategies
• Preparation of Wills – testamentary discretionary trusts, mutual Wills and simple Wills
• Superannuation and binding death benefit nominations
• Planning for legal incapacity before death through the preparation of Enduring Powers of Attorney and Advance Health Directives
• Business succession planning
Estate Administration
When someone dies the person responsible for administering the deceased’s estate is the legal personal representative. This person may be an executor or an administrator who has been granted Probate or Letters of Administration by the Supreme Court.
• Involving the administration and finalisation of the estate of a deceased person
• Probate and Letters of Administration
• Identifying and settling debts and liabilities
• Identifying and collecting assets
• Transferring assets to beneficiaries rightly entitled
• Accounting and taxation matters
• Advising on the duties and responsibilities of executors and/or administrators
Estate Litigation
Litigation involving disputes over Wills are more common than most people think. There is no such thing as a “water tight” Will.
A Will is a legal document providing for the distribution of the Willmaker’s property which is to take effect after the Willmaker’s death.
Wills can be challenged by:
Individuals who have reason to doubt the validity of the Willmaker’s last Will; and
Beneficiaries who:
Feel aggrieved by not being included in the Will; or
Believe adequate provision has not been made for them in the Will.
Enduring Powers of Attorney
With the advances in medical treatment, life expectancy is increasing and mental illness, such as dementia, is on the rise. You need to think about how you wish your affairs to be dealt with if you lose decision making capacity. Losing the decision making capacity to make decisions can often happen unexpectedly, such as due to an accident or illness. Who will be responsible for keeping your financial affairs in order? Who will be responsible for consenting to your medical care and treatment? Who will decide where you will live? Is there someone that you would trust wholeheartedly to make these decisions for you?
Advance Health Directives
Advance Health Directives can be used in circumstances such as:
Cardiopulmonary resuscitation (CPR);
Assisted ventilation in order to keep you breathing;
Artificial nutrition or hydration;
Blood transfusions and blood products;
Palliative care;
Intensive care.
WHERE TO SOURCE HELP WITH WILLS AND ESTATE PLANNING
If you would like to seek advice in relation to a Will and estate plan contact John and the team at JDS Lawyers today