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The area of Estate planning is an important, and sometimes overlooked, aspect of law.
At Carew Counsel, our estate lawyers will give you peace of mind when it comes to preparation of your Estate Plan including preparation of a properly drawn and suitable Will and Powers of Attorney.
Estate Planning & Your Will: Testamentary Trust Explained
It is essential that you have a valid Will at any time but it is even more important after separation or divorce to ensure that your former partner does not benefit from your estate.
We will be able to properly advise you on the right type of Will for you.
In some cases this will involve the preparation of a Testamentary Trust type Will which will allow your beneficiaries significant taxation advantages, protection of assets against creditors and some family law protection in the event that your beneficiaries should later find themselves in a situation of separation or divorce.
It’s essential that you have a valid will at any time
Where you have young children or children with disabilities or drug and alcohol problems, your assets may be left for them in a Testamentary Trust with independent trustees who can deal with the assets of the trust in an appropriate way to benefit the beneficiary and not allow the assets to be wasted.
To complete your Estate Plan and to complement a Testamentary Trust Will, we will prepare a tailor-made Memorandum of your Wishes leaving directions and a code of conduct that you would encourage your trustees to adopt in the event of your death. It will give your trustees and beneficiaries an insight into how you would like your estate managed and the reasons why.
Your Powers of Attorney – A ‘Living Will’
Powers of Attorney (financial, medical and enduring powers of guardianship) are part of a collection of documents that a well-prepared Estate Plan requires. Dealing with how you would like your personal and financial affairs managed while you are alive but no longer to make decisions for yourself, can be more important than preparing for what will happen to your assets following your death.
Excellence in knowledge and service
We pride ourselves on providing our clients well-educated and resourced estate planning lawyers within our firm. We are proud to be members of the Law Australasia Estate Planning group which gives us access to specialists from around the country and enables us to constantly update our skills and precedents while keeping abreast of new changes in this area of law.
Although based in Melbourne, our estate planning lawyers have access to invaluable legal contacts interstate which some of our clients have found invaluable in the past.