Wills and Estate Planning

Our partners are experienced in taking detailed instructions to achieve your testamentary intentions. Will making is not straight forward as all competing interests need to be considered. Complications which often need to be addressed include:

1. Taxation consequences of the will. This may result in the need for a testamentary trust to minimize taxation of income from the estate in the hands of the beneficiaries.
2. Asset protection is often critical. Who will control the estate assets now and in the future and how can those assets be protected in the event a beneficiary became bankrupt or divorces or otherwise suffers financial hardship?
3. Consideration needs to be given to guard against potential waste by beneficiaries which may be unintentional. Examples might be a gambling problem, lack of financial acumen or a disability.
4. The will may need to be specifically drawn to protect the estate from unwanted claims.
5. Making appropriate allowance for superannuation and reviewing binding death nomination requirements.
6. Provision may need to be made for the protection of the interests of the beneficiary who suffers from a mental or physical disability.
7. Disproportionate benefits received by beneficiaries during the lifetime of the testator may need to be addressed.
8. Consideration of the spouse’s situation, benefits, remarriage and any intentions by the testator to protect the “bloodline inheritance”.
9. The benefits, if any, of a testamentary trust.