Planning for your family’s future after you are gone is a really important legal task.
If you take the time now to make an effective legally binding Will you can save your family not only stress but money in what will undoubtedly be a difficult time for them.
We can meet with you, draft your Will and then attend with you again to witness your Will for a fixed fee.
Enduring Powers of Attorney
At the same time as considering your Will we strongly recommend that you also put in place plans for any future incapacity through an Enduring Power of Attorney. This will ensure that if you somehow become unable to make decisions about your finances, your medical treatment or living arrangements then the person or persons who you trust to make these decisions can do so unhindered.
Your Will is only one consideration particulary if you are in business. Estate planning is a more complex task. It involves considering the entirety of your estate and working with you to determine the most effective way to ensure the persons that you want to receive your estate, do receive your estate in the most efficient and tax effective way.
When working on your estate plan, we will need to consider numerous issues including:
- the risk of your Will being disputed – if there is a risk what can be done to reduce the risk of that dispute being successful;
- if some or all of your assets can be distributed tax effectively during your lifetime;
- whether you should establish a testamentary trust;
- have you made a Binding Death Benefit Nomination for your super and if not, who should you make it to;
- do you have life insurance and whether it is adequate to achieve your goals;
- if other documents are required for example partnership agreements, buy sell agreements or a deed as to mutual Wills.
Disputing a Will
There are several ways that a Will can be disputed. Examples of grounds for disputing a Will include that the Testator lacked the capacity to make the Will at the time or the Testator’s will was overborne at the time of making the Will.
Another and perhaps the most contentious ground is referred to as Family Provision. A certain class of persons have a statutory right to apply to Court for further and better provision from the estate of a Testator despite what the Testator’s intentions may have been at the time of making the Will. This class of persons include Spouses and children of the Testator.
A Family Provision application must be made within a strict time frame of the Testator’s date of death. Legal advice about bringing a Family Provision application should be obtained shortly after the Testator’s death.
We have experience in advising on the risks of these applications as well as advising on the prospects of success if a party wishes to bring such an application.
Donnie Harris Law can help:
- Advise you in regard to estate and Probate laws
- Draft a Will that is specific to your circumstances and wishes
- Set up family, charitable, testamentary and other special purpose trusts
- Advise you in regard to choosing executors and guardians
- Minimise the chance that your Will is contested and subject to litigation
- Advise in regard to tax (including capital gains and duty)
- Advise you in respect to Enduring Powers of Attorney and Advanced Health Directives
- Safely store your Will and other important legal documents
Contact us to today to find out more or to arrange a consultation with an experienced Townsville Wills and Estate Lawyer.