Estate Planning is more than just a drafting a Will. Estate Planning involves obtaining an understanding of a person’s assets, resources and liabilities, their personal circumstances and discussing their wishes and objectives.
We can provide you with comprehensive estate planning advice and review discretionary trusts and business structures to ensure that the future control of your assets and resources is considered and planned.
Estate Planning Packages
You may choose to instruct us to prepare only a Will or Powers of Attorney, or you may choose from one of out Estate Planning Packages.
Our Estate Planning Packages include:
- a Will
- an Enduring Powers of Attorney (sometime called a ‘Living Will’, so that someone can make Financial and Personal decisions if you cannot make such decisions)
- an Appointment of Medical Treatment Decision Maker (so someone can make medical decisions on your behalf if cannot make medical decisions)
|Enduring Powers of Attorney:||$330||$440|
|Medical Treatment Decision Makers:||$220||$330|
|Powers of Attorney Packages: Enduring Powers of Attorney and Medical Treatment Decision Makers:||$450||$550|
|Estate Plan Packages: Standard Will, Enduring Power of Attorney, Medical Treatment Decision Maker document:||$690||$790|
Add Ons: Additional fees apply for more complex Estate Planning.
|Below is a summary of additional fees that may apply depending on your circumstances.||Additional fee from:|
|‘Blended families’, with children from a previous relationship / 2nd spouse:||$440|
|Non-matching Wills for a couple:||$440 each|
|Wills establishing Discretionary Testamentary Trusts:||$440 each|
|Beneficiaries with intellectual disabilities or special needs – Will establishing Protective Trust or Disability Trust:||$660|
|Self-managed superannuation funds (SMSFs) :||$440|
|Business interests, discretionary trusts, unit trusts, shareholder agreements or partnerships:||$440|
|The need for an interpreter, medical certificate / letter as to capacity and / or a visit to a hospital or nursing home:||$330 per hour, after the first hour|
|If the total time for meetings and attendances exceeds 1 hour:|
Estate Planning Advice
We can assist you with all of your estate planning needs including advising on and drafting:
- Simple and complex Wills
- Wills establishing Discretionary Testamentary Trusts (Discretionary Will Trusts)
- Protective Testamentary Trusts for spendthrift beneficiaries, beneficiaries unable to manage their own affairs and or beneficiaries with special needs
- Special Disability Trusts
- Personal and Business Succession Planning / Buy Sell Agreements
- Deeds relating to future control of family trusts / discretionary trusts
- Binding Death Benefit Nominations (BDBNs) for Self Managed Superannuation Funds (SMSFs)
- Simple and complex personal and corporate powers of attorney
- Enduring Powers of Attorney (Financial and Personal)
- Appointment of Medical Treatment Decision Maker document (previously called Medical Powers of Attorney)
A Will is an important document. It is a legal document setting out how your assets are to be distributed in the event of your death. it should be reviewed regularly, and it should be updated when necessary so that it accurately reflects your current circumstances.
If you do not leave a Will, your assets will be distributed in accordance with a formula set out in legislation, which can often have serious unintended consequences.
In order to protect your assets and wealth and have it distributed in accordance with your wishes, it is important to have a Will properly prepared by an experienced estate planning lawyer.
Powers of Attorney
Whilst a Will operates on your death, Powers of Attorney operate whilst you are alive.
A Power of Attorney is a legal document whereby one person grants another person the authority to make legal and financial decisions on their behalf.
Enduring Power of Attorney
An Enduring Power of Attorney (Financial & Personal) takes this a step further, whereby the person nominated to manage the affairs may continue to manage the affairs once the person giving the power (also called the “Donor”) is found to have diminished mental capacity due to injury or illness. This arrangement can remain in place as long as the donor is still alive.
Powers of Attorney can be prepared to come into effect immediately or to come into effect at a future time (such as upon you losing mental incapacity).
In order to sign a Power of Attorney, the donor must be capable of understanding the nature of the document they are signing and its effect. It is therefore important in situations where an Attorney must be appointed that it is done so in a timely manner.
Appointment of Medical Treatment Decision Makers (previously called Medical Powers of Attorney )
An Appointment of Medical Treatment Decision Maker document provides for you to appoint a medical treatment decision maker to be able to make medical treatment decisions on your behalf if you lose capacity. You can appoint more than one person to be your medical treatment decision maker, but only one person can act at any one time. The person/s you appoint should be people you trust to respect your values and preferences.
Contact us to find out more or to arrange a consultation with an experienced estate planning lawyer in Greensborough.