Wills

Fixed Fee Wills

People are often concerned by the costs involved in estate planning. This is a legitimate concern. However, we believe that a bigger concern is the much bigger and unnecessary cost, expense, and heartache suffered by surviving family members disputing inheritance, as a consequence of no or poor estate planning.

What people try to save by either simply ‘hoping for the best’ or taking a cheap DIY option is often lost many times over by squabbling family members. Legal fees and expenses incurred by the surviving family members can significantly chew up entitlements.

A Basic Will is much better than an over-the-counter Will available at news agencies and online. We often see DIY Wills that have been either poorly considered or completed incorrectly and therefore become invalid or ineffective upon death.

A Basic Will drafted by a lawyer will ensure that it is completed and witnessed correctly in order to leave your assets to nominated people.

A Complex Will is the next step above a Basic Will. Your will may have complex considerations such as:

• if you currently hold any property held in a trust;
• if you are you operating a business;
• if you are a party to a binding financial agreement (‘BFA’);
• if you wish to exclude anyone from receiving a benefit under your will;
• if you have children to more than one partner.

Careful consideration towards your will is required to ensure that your wishes are carried out as intended.

A Complex Will With Testamentary Trust Deed is the Rolls Royce of Wills. It provides absolute protection to your beneficiaries and ensures that your estate is left how you want it to be left.

Like the Complex Will which may include testamentary trust clauses, including the actual Trust Deed sets out directions for your nominated executor which must be followed. This can be particularly important for those who may leave behind a child with a disability or who has special care needs.

This protection has the potential to limit your beneficiaries’ tax burden as well as make it more difficult for people not named in your will to argue a claim on your estate.