Wyatts Help You Secure Your Legacy
Would you like to secure your estate for your family?
Are you considering making a Will or updating an existing Will?
Do you wish to challenge or contest a Will?
Are you considering an Advanced Heath Care Directive or would you like to appointment a Power of Guardianship to manage your welfare?
Are you considering appointing a Power of Attorney to manage your financial and legal matters if you are no longer able to?
Planning your Estate and Establishing a Will
A great sense of relief can arise from knowing that your estate is in order, and that your property and assets will be distributed according to your wishes upon your death. Although it can be challenging to consider the end of life, it is reassuring to know that you have arranged your affairs to ease the lives of your loved ones, and to minimise any disputes that might arise.
Wyatts can assist you in taking the legal steps required to plan your estate, and to create a Will. Our estate planning lawyers will listen carefully to your situation and will offer a tailored and personalised solution so that you can feel confident that you have protected your loved ones. In addition, we can assist you in legally stating your wishes for your end-of-life care, both medically and financially.
Estate planning allows you to specify how your assets will be distributed to your beneficiaries upon your death, but it does more than that.
An estate plan allows you to have:
- Confidence that your current and future lifestyle requirements will be met
- Organised and flexible governance of your personal matters, financial affairs and assets in light of your current circumstances and your anticipated future
- A thorough plan for how your trust assets will be handled
- Confidence in your retirement plans
- Confidence that your financial and legal affairs will be managed via a Power of Attorney in the event that you are incapacitated
- Assurances that any end-of-life medical treatment will be enacted via a Power of Guardianship and/or an Advanced Heath Care Directive
- Protection or creation of wealth for your beneficiaries after your death via a Will
Importantly, a well-planned estate can reduce the stress experienced by loved ones at an emotionally-difficult time, and can minimise the potential for disputed Wills – disputes about the distribution and handling of assets after your death.
Estate plans should be updated in response to the ending of a marriage, the forming of a new relationship, the addition of loved ones to your family, and to changes to your health. Together, estate planning incorporates asset protection, taxation matters, financial planning, planning for retirement, planning for end-of-life care, and the distribution of your estate after your death. For the protection of your estate, these matters must be considered in light of relevant legal structures, and given the complexity of this area of law, it is worth seeking expert legal advice. In fact, estate planning often requires a multidisciplinary team of lawyers, financial planners and accountants. Wyatts can support you in the legal aspect of estate planning, ensuring that you and your loved ones are protected by law.
What is a Will?
A Will is a legal document that stipulates how your estate – your property and assets – are to be distributed following your death. A Will appoints an executor who will be responsible for collecting your assets, paying your debts, and distributing the remaining assets according to your Will. A thorough and correctly written Will ensures that your beneficiaries are protected, and it reduces the possibility that disputes will arise.
Should I write a Will?
Anyone over the age of 18 years can write a Will. In fact, it is important to have a Will, even if you think you do not hold substantial assets. A Will ensures that your estate is shared amongst those you choose, including charities. A Will also states who you have nominated to be the executor, or administer of your estate, how your debts are to be paid, wishes concerning your funeral, and whether you would like to be buried, cremated or have your body donated for research purposes. A Will can also state who will be responsible for the ongoing care of pets, and it can indicate who you would like to act as a guardian of your children.
What happens if I don’t have a Will?
If you do not have a legal Will, your property and assets will be distributed to particular family members using a pre-determined formula established by State or Territory legislation. In addition, there will be uncertainty as to who should arrange your funeral. These matters can cause a great deal of distress for loved ones, and can give rise to disputes. Therefore, it is important to have a Will, and to update it regularly.
How do I write a Will?
Writing a Will is a significant step, and it can be complex. If there is any uncertainty in your written Will, it is possible that a family member may challenge it, causing potential upset and stress amongst beneficiaries. In fact, informal or do-it-yourself Wills are more vulnerable, and open to challenge, than well written Wills overseen by a lawyer. Therefore, seeking the services of a lawyer is a wise decision, and one that can provide you with certainty and confidence that your wishes will be upheld.
To write a Will, you must:
- Be over 18 years of age
- Be of sound mind and memory, and have an understanding of what you are doing at the time of making the Will
- Record your wishes in writing – typed or hand-written
- Sign the document in the presence of two independent witnesses that are not beneficiaries (except in particular circumstances)
Wyatts can assist you in writing a valid Will, giving you and your loved ones peace of mind. We offer a comprehensive, personalised and attentive service. Our team of expert lawyers will ensure that all legal matters pertaining to your particular circumstance have been dealt with thoroughly, and with professionalism. Contact Wyatts today to speak to one of our legal team.
Our legal team have the knowledge and expertise to assist you in writing a Will, planning your estate, or disputing a Will. We can also assist with a range of family law matters. Further, our lawyers have the determination and skill to represent you during mediation and dispute resolution, or litigation in court. Our resolve is to secure your future by obtaining the best possible outcome.
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