AN ESTATE PLAN IS MORE THAN JUST A WILL – FIND OUT MORE.

An Estate Plan is more than just a Will – So what is it? And why is it so important?

An Estate Plan is all about us helping you protect the assets and wealth you accumulate in your lifetime and to ensure that it passes in accordance with your wishes.

An Estate Plan can include providing security for your children – by way of nominating Guardians while they are minors (under 18), setting trusts for their provision, or simply ensuring your assets pass to them.

An Estate Plan can include a Will, a Power of Attorney, an Appointment of Enduring Guardian and even Super nominations. A little-known fact is that often your Super and associated policies can form a very large part of your assets, but are not atomically part of your Estate. An Estate Plan (with relevant advice) lets you make informed decisions about how to treat your Super (tax effectively!)

We work with you to make sure that you protect what is important to you and that we achieve your legacy goals together.

An Estate Plan is about creating certainty that your wishes are fulfilled.

The Alternative is that your Estate Plan is the default position the Government has set up for you – this will dictate what happens to your assets.

Leave your Estate Plan to the default position and the consequences can often be dire –

  • if you are separated, but not divorced, an estranged ex-spouse receives all your assets
  • Your long-term de-facto has to litigate that ex-spouse (with the risk, legal costs and stress of going to Court) ;
  • if you are unmarried you may find an estranged parent has priority over a de-facto partner

If you find yourself in ill health and someone need to make health decisions for you – you may find that your ex-spouse or estranged parent is not the person you would choose! Why not take the time to make sure that someone you trust, who knows you, your value and your health preference is the person who makes those decisions if you are in a position that you can’t.

The same applies for financial decisions – where you can save your family and loved ones from the time, stress and expense of a guardianship tribunal legal actions, by simply nominating your chosen person to manage those affairs if you are not able to do so.

There are other topics to cover and their role in protecting and distributing your wealth, but you can see from this brief outline that your Estate Plan is worth thinking about. It is worth spending some time to implement your wishes and achieve your goals. Want your wishes and goals to be carried out? Of course you do! Want to alleviate costs and stress from your family? Definitely! Want to protect what is most important to you – your family, your hard earned assets or the business you’ve built up? Absolutely!

That’s why, when you’re ready you can give us a call! Call our Estate Planning lawyers in Mona Vale on 02 9151 7339 or call our Estate Planning lawyers in Gosford on 02 4308 8892.

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