Preparing your estate plan is an investment in you and your family’s future and should be tailored to you and your personal circumstances. Adler Legal believes that drafting your estate documents is like telling your story and often involves a puzzle of legal ownership, transfer of assets, family dynamics and relationships.
While there is no problem living without a will, there are lots of problems dying without one. 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.
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
Estate planning is more than just drafting a will – it often includes:
- Establishing testamentary discretionary trusts
- Succession of family trusts, companies and businesses
- Identifying and implementing strategies for business succession planning
- Superannuation, including retail, industry and Self-Managed Superannuation Funds (SMSFs)
- Special disability trusts and other protective trusts for vulnerable beneficiaries
- Asset protection and inter-generational wealth transfer
- Specific gifts of treasured possessions and other sentimental items
- Identifying risks of dispute or estate litigation and advising on avoidance strategies
- Advising on and drafting Memorandum of Wishes to give guidance to loved ones after you’re gone
Please contact us if you would like our assistance with your estate needs.