Estate Planning Lawyers
Planning your estate with one our estate planning lawyers is simple. We will tell you the best way to distribute your estate legally so it is in accordance with your wishes after you die. It is vital for every person, especially individuals with families, to know what is going to happen to their assets after their eventual passing. So it also stands that is vital that whatever you think is going to happen actually happens. Using an estate planning lawyer helps ensure that your wishes will be carried out in the way that you actually want them to.
What is Estate Planning?
Estate or succession planning encompasses a wide variety of end-of-life planning decisions. Many people have a basic understanding of Estate Planning and what it entails. However, eventually, questions will arise, either before or after your passing about the legitimacy of your estate planning documents (such as a Will or Testamentary Trust).
Effective Estate Planning takes knowledge and experience. It can be much more complicated than creating a will and designating a power of attorney.
What does an estate planning lawyer help me with?
You will begin with a free consultation with an estate planning lawyer to review your current financial, familial, and health situation,At this consultation, your estate planning lawyer will discuss with you what documents you require to affect your last wishes. Estate planning documents might encompass:
- Standard or Advanced Will;
- Enduring Power of Attorney;
- Advanced Health Directive;
- Superannuation Binding Death Benefit Nomination;
- Testamentary Trusts.
Your Brisbane estate planning lawyer has the knowledge to assist you in protecting and preserving your estate and transferring it in accordance with your wishes.
Is there a difference between estate planning and succession planning?
Yes and no. Succession planning refers to the area broadly it includes estate planning, retirement planning, and business continuity planning. Estate planning is the essential part of succession planning and applies to your estate, i.e. your personal property, belongings and interests.
I don’t have any assets, why should I see an estate planning lawyer?
Even if you don’t have assets, you do have an estate. Estate Planning is a way for you to protect your family and loved ones. Proper Estate Planning gives you the ability to leave your loved ones the items you wish them to receive after you are gone, in the way you want them given, at the time you want them given.
What is the point of estate planning?
A large part of Estate Planning is the ability to save every single tax dollar, legal fee, and/or court fee possible. Estate Planning also helps to keep you in control of your own affairs.
If I’m in perfect health why should I plan for the possibility of disability?
An effective Estate Planning concept always involves plans for the unexpected, especially in regard to disability. It allows you to plan for your disability and direct the distribution of your property in the event you do become disabled.
Do I need to see an estate planning solicitor?
Yes if you want to ensure that your family will be taken care of after you are gone, and do not want to take any chances or make any costly mistakes. Unfortunately, many people never realise their estates are not in order, and their family’s find out the hard way. The biggest problem is that some people just fail to plan their estate properly.
How do I plan my estate?
Planning your estate does not have to be complicated. It can begin with a free consultation with one of our estate planning lawyers.
In your will and estate planning consultation, we will ask you a variety of questions to help ascertain what documents you require and how those documents should be drafted in order to best represent your last wishes.
Questions you should consider for estate planning
- Whom do I want to look after my estate?
- Whom do I want to gift my assets?
- Any conditions attached to my gift?
- How will I pay my debts?
- Do I have any specific gifts to give?
Questions you should consider when you’re injured or otherwise unable to handle your personal affairs
- Who do I want to look after my financial and health decisions while I am unable?
- What do I want them to be allowed to do?
- Any medical procedures I’m opposed to?
Starting with these questions can help determine exactly what legal documents you need for your estate planning and how those documents should be worded. In most circumstances you will require a Will and Enduring Power of Attorney, however this greatly depends on your own individual circumstances.
Should I use Cudmore Legal for my estate planning service?
If you wish to use our Brisbane based Estate Planning Lawyers, please request a free consultation here. For more information about our Estate Planning Services, please download our free price guide here.