Planning for your family’s future, when you are no longer able to, is a really important legal task. Nobody likes to think about it too much, but inevitably one day you may have to leave your home, business or farm, whether by selling up, retiring or leaving for health reasons.
It is very important to have a succession plan in place that makes the transition easy not only for yourself but also for your family or employees. If you take the time now to make an effective legally binding Will and succession plan, you can save your family not only stress but money in what will undoubtedly be a difficult time for them.
Harris Solicitors can help with your will and estate planning in the following ways:
- Advise you in regard to estate and Probate laws
- Write a will that maximises the inheritance for your family
- Set up family and testamentary trusts
- Advise you in regard to choosing executors and guardians
- Minimise the chance that your will is contested and subject to litigation
- Advise in regard to estate tax (including capital gains) and financial concerns
- Safely store your will and other important legal documents
Even if you have previously made a Will, it is importatnt to remember that estate planning is an active process of re-evaluating the estate when circumstances in life change, such as:
- New marriage or divorce
- A change to the family’s asset pool
- A change in working conditions such as the buying or selling of a business
- Changes to superannuation, insurance policies or taxation levels
- The establishment of discretionary trusts
At the same time as considering your Will we strongly recommend that you also put in place plans for any future incapacity through Power of Attorney and Guardianship documents. This will ensure that if you somehow become unable to make decisions about your finances, your medical treatment or living arrangements then the person or persons who you trust to make these decisions can do so unhindered. See the ‘Powers of Attorney and Enduring Guardianship’ section of this website for further information.
Contact Harris Solicitors to find out more or to arrange a consultation with an experienced lawyer in Tamworth.