Wills and estate plans are important if you want to distribute your possessions legally and successfully upon your demise. A will is a thoroughly drafted piece of document that specifies who gets your properties and wealth when you pass on. An estate plan, on the other hand, consists of a will and other elements that protect your family from unnecessary legal and financial problems.
If you’re unsure how to create a will or formulate an estate plan, approach the lawyers of Hoe Lawyers. We’re a trusted law firm in Perth, Australia with experienced estate planning lawyers well-versed in trusts, wills, estate plans, and other related issues.
Our will and estate law firm has been helping hundreds of clients put together a solid will and comprehensive estate plan since 2009. Count on us to provide you with excellent legal services, reliable verbal and written legal advice and responsive legal action concerning your wills and estate plans.
What sets us apart from other estate planning law firms is our lifetime wills amendment guarantee. We don’t charge a single cent for minor amendments to the will our office created for you.
We offer a broad range of expertise to meet the individual needs of clients, no matter how complex. We are particularly well-regarded for our experience and ability to understand the value of giving clear, practical and timely advice.
Our specialist team of wills and estate lawyers in Perth provide the following services to our valued clients:
We draft Last Will & Testaments for individuals and ensure that their testamentary wishes are accurately reflected in their Wills. We deal with questions like how their estate would be distributed, whether directly or indirectly through a testamentary trust, who would be appointed as Guardians to look after their children, and who their Executors and Trustees would be to carry out their testamentary wishes.
We assist individuals in obtaining a grant of Probate by preparing motions and affidavits to be filed with the deceased person’s Will at the Supreme Court to enable their Executors to deal with their estate and administer it according to their Wills.
In the event that a deceased person did not leave a Will, or the Will is invalid, we assist individuals in applying to the Supreme Court to obtain Letters of Administration to appoint an Administrator to distribute the deceased’s estate according to law.
An Enduring Power of Attorney is a legal document that operates during your lifetime to enable a third party to make any and all decisions on your behalf and in your best interests if and when you are legally incapacitated. Such decisions often include financial ones such as the management and use of your assets during your lifetime.
An Enduring Power of Guardianship is similar to an Enduring Power of Attorney under which a third party, usually a trusted family member, would act as your legal guardian who would be empowered to make decisions regarding your health and lifestyle only.
An Advance Health Directive, commonly known as the Living Will, allows you to decide beforehand whether and what medical treatment you do/do not wish to undergo should you become legally incapacitated to make such medical decisions.
Although you could draft a will or come up with an estate plan on your own (or with the help of DIY kits found on the web), working with one of the qualified wills and estate planning lawyers in Perth is a better option. Here’s what your lawyer can do for you:
A valid will should conform to legal requirements. The testator, for instance, must be of sound mind when writing the document. It means that an individual can understand, reason and think for himself/herself.
If your will doesn’t show that you’re of sound mind or fails to adhere to legal requirements, the executor of your will would have problems distributing your wealth once you die. Here are a few scenarios that may occur:
Your will might be open for modification, especially if the court finds that you’ve disregarded some of your legal heirs without a good reason
When you have a lawyer assisting you, there would be no question as to your sound judgment during the drafting of the will; your lawyer is your reliable witness. He/she will also prove that you know who and where your heirs are, how much wealth you own and how you’d want to distribute your properties.
Another crucial aspect of wills and estate planning in Perth is preserving the full value of your property or estate. For instance, when you pass down assets to your children or grandchildren, you want them to receive the full benefits of those assets. However, things don't always turn out that way. Often, estate taxes can take out a huge chunk of the asset’s overall value, leaving your heirs with less than what you hoped for them to receive.
Wills and estate lawyers in Perth can help you eliminate these burdens and ensure your loved ones receive the maximum value of their inheritance. This is something that only an experienced and skilled attorney can help you with.
The people who are close to you may challenge the contents of your will if they believe that the distribution of wealth is unfair. If you’ve had multiple partners, for instance, one of your previous partners may come up with serious grounds to contest a will. If you’re unsure how to handle this area, you’ll need the advice of a lawyer.
Although a will is important, this document is not the only thing that should be part of your estate plan. You must also take into account the following:
With the assistance of an experienced lawyer, you may create an estate plan that ‘checks all of the boxes.’
An estate plan protects your family's or your heir's assets. It will act as a safety net to help preserve the value of your assets, minimise disbursement wait times and ensure the legacy you envision is properly carried out.
The difference between a will and a revocable trust is when it goes into effect. A will only takes effect after your death. A revocable becomes effective the moment you create it. You can be in full charge of your trust while you are alive. When you die or become incapacitated, your appointed successor trustee can easily step in to handle your affairs in the exact way you have laid out in the document.
Wills are not the only way to distribute your assets when you die. Other alternatives include revocable living trusts, intestacy, nonprobate assets and community property agreements.
Most people start planning their estates when they reach their age of retirement. However, many advisors recommend starting the moment you become a legal adult, and then updating it every five years or so. It is also keen to pay attention to certain life milestones for you to identify the best time to take care of your estate planning needs.
Estate planning includes the bequest of assets to heirs and the settlement of estate taxes. A comprehensive estate plan also deals with other matters such as making a will, creating testamentary trusts for asset distribution, superannuation death nominations, powers of attorney, power of guardianship and advance health directive.
It pays to spend the time and effort every 3-5 years, or when there are significant life events, to update or make changes to your Will. This helps ensure there are no surprises for your loved ones or family should the unexpected happen.
At Hoe Lawyers, we always have a wills and estate planning lawyer in Perth ready to help you out. Don't hesitate to reach out to us today by calling 08 6244 5234 or emailing firstname.lastname@example.org.
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