What is Estate Planning?
When it comes to safeguarding your future wishes, most people know that they should make a Will.
Estate planning can be as simple as having a Will, but often it involves more.
Estate planning lawyers specialise in helping you take into account all of your personal, family and business affairs.
Wills and Estates Lawyers such as Gill and Lane will advise you on what you need to best cater to your individual circumstances.
What’s included in an estate?
An estate may include financial assets such as property, shares or savings but it can also include superannuation and associated life insurance as well as keepsakes that may only have sentimental value.
While estate plans consist of the documents that provide instruction for distributing your estate, they also outlines directives for handling your finances and medical care if you no longer have the capacity to do so.
An Estate Plan may include (though not limited to):
- An up-to-date and legally valid Will (as a minimum)
- General Power of Attorney
- Enduring Power of Attorney
- Advanced Health Directives
- Testamentary Trusts
- A binding death benefit nomination for superannuation and associated life insurance.
Estate Planning Considerations
Your Estate Planning lawyer should also consider:
- Assets and liabilities
- Personal and family circumstances
- Retirement plans
- Lifestyle needs
- Personal wishes
- Children, spouses and other family
- Proposed beneficiaries
- Dependants or organisations you’d like to provide for
- Any potential claimants against your Estate
- Taxation implications
- Social security benefits
- Medical and health issues
- Business interests
- Financial and tax position
- Any potential risks.
Gill and Lane will consider your unique circumstances and create an estate plan that’s right for you.
Our dedicated Wills, probate and estate planning lawyers have a thorough knowledge of this potentially complex area.
Gill and Lane mainly services areas within Brisbane, North Brisbane and other surrounding areas but we can assist even if you’re further afield.
To get help with your estate planning go to our contact page and fill out the form or call us on (07) 3269 8111 for an obligation-free consultation.