Estate Planning

Estate Planning is more than simply making a Will, though this is an integral part of any estate planning exercise. Proper estate planning must take into account:

  • an assessment of the overall assets of the client, including those assets held in superannuation funds, trusts, life policies or in related companies
  • possible reorganisation of a client’s affairs to streamline the passing of assets to a spouse and future generations
  • restructuring to take into account capital gains and other tax considerations
  • strategies to minimise tax, to protect superannuation and pension entitlements and the control of assets
  • advice to a client regarding possible claims against the estate under the Family Provision Act by persons claiming the deceased had a responsibility to provide for them.
  • protection of assets against creditors or other risks relating to beneficiaries.

Proper succession planning may involve:

  • a well planned Will and possibly a testamentary trust
  • a binding nomination specifying the beneficiaries entitled to the proceeds of a superannuation fund on death
  • the nomination of an appointor or guardian of a family trust to control the trust after the testator’s death
  • alteration of controlling shares in the family company
  • asset transfer to avoid the impact of capital gains or income tax
  • risk management and asset protection techniques designed to minimise or avert the impact of divorce, bankruptcy or death on a client’s estate.

Our services in this area include the provision of advice on:

    • drafting Wills and structuring testamentary dispositions
    • establishment and reorganisation of trusts
    • establishment of superannuation funds
    • capital gains and income tax advice
    • powers of attorney (both enduring and non-enduring powers of attorney)
    • probate applications and administration of estates
    • executorial and trustee services