Some don’t want to think about making ‘end of life’ decisions. Others feel they don’t have enough assets to justify having a will.
Most simply “haven’t got around to it yet”.
Having an up-to-date will is especially important if your affairs are complex or if there’s a fair bit of money involved. You should also consider changing your will should your life circumstances change – after a divorce, if you remarry or when you have children.
When drafting your legally binding will, you’ll need a lawyer you can trust. We regularly work with qualified lawyers who can help with your estate planning.
In addition to preparing your will, our estate planning experts can also organise other important legal documents such as an enduring power of attorney, the appointment of an enduring guardian and a binding death nomination.
Rachel and her mother Helen needed advice. Their father/husband had passed away a few years ago, but the family financial assets – including many properties – were frozen by the NSW Trustee. This was because he had passed away intestate – without a will.
Rachel and Helen needed specialist estate planning advice to develop a financial plan so that the NSW Trustee would release their loved one’s assets. They also needed a holistic financial plan going forward as none of the properties were currently saleable or rentable as they had become run down.
After discussing their situation, we recommended a specialist estate planning lawyer that was able to progress the matter with the NSW Trustee. We contacted the NSW Trustee and provided a comprehensive financial plan for the release of the assets. We also developed a plan to allow for the sale of some of the properties. This freed-up cash to renovate the remaining property assets, keep aside enough to keep them maintained and to create a more diversified portfolio for Rachel and Helen to manage. We also arranged for the payment of the income from the properties to go to Rachel and Helen every month.
Rachel and Helen were relieved that after years of frustration, their estate woes were solved and their finances were in excellent shape with good capital growth prospects and monthly income.