A will is one of the most important legal documents you will ever sign. It is the best way to protect your assets and have them distributed according to your wishes when you pass away. For more information about wills refer to the topic “What is a Will”.
Estate planning is about ensuring that the value of a person’s assets are preserved and enhanced, and to avoid unintended consequences for beneficiaries after that person’s death. The assets which are sought to be protected need not necessarily always be owned personally but can be by other means such as superannuation or family trusts.
Because circumstances change, it is important that estate planning be properly addressed and that wills be reviewed regularly. The process has become a lot more difficult due to the fact that people are faced with a broad range of financial products such as superannuation and insurance. People also often have considerable assets tied up in business or company structures or trusts.
Failure to properly plan one’s affairs in the event of death can lead to a reduction in the wealth passed on to intended beneficiaries, and can result in beneficiaries either missing out on what was intended, or in other cases, receiving what was not intended. In many cases, failure to properly take planning considerations into account can result in costly litigation against the estate which sometimes can drag on for years.
Because of the increasing in complexity of the law, it is necessary to obtain professional advice which properly addresses your concerns. Our team has considerable experience in preparing wills for clients with fairly straightforward estate issues through to more complex scenarios involving complicated tax and trust structures.
At Nevett Ford, we can help you with your estate planning so as to ensure that nothing is left to chance and that your will is legally sound and up to date.
Proper estate planning often involves other considerations in addition to preparation of a will. An enduring Power of Attorney or testamentary trust may be appropriate to a client’s circumstances. At Nevett Ford Lawyers we have the necessary skills to assess your situation and suggest an arrangement that would be appropriate to your needs.
