Why is Advanced Estate Planning important?
Proper Advanced Estate Planning will ensure your loved ones:
- will not suffer a financial strain in the event of your untimely death, injury or illness, and
- will receive the maximum benefit from their inheritance.
Without proper Advanced Estate Planning your assets may be unnecessarily at risk during your lifetime and/or your intentions for the passing of wealth upon you death may not be fulfilled. Even when it appears that a person’s circumstances are straight forward, their intended beneficiaries’ circumstances may be more complex and if not properly considered or anticipated the intended benefit of a future inheritance may be frustrated.
Regardless of the level of Estate Planning you decide to implement the most important thing is that you are fully informed of the legal implications relevant to your circumstances and are able to make the right decisions about your Estate Plan now and in future.
Who needs a Advanced Estate Plan?
We should all have an Estate Plan and at certain times in our life we need to revisit our Estate Plans. However, Advanced Estate Planning is particularly relevant where you have:
- significant assets (such as an unencumbered house, an investment property or cash/savings),
- significant current or prospective liabilities (either personally or guaranteed),
- a business (especially if the business is co-owned),
- infant or disabled children,
- one (1) or more former spouses,
- children to one (1) or more partners,
- loans/advances to adult children,
- no personal insurances,
- significant Superannuation or a Self Managed Super Fund (‘SMSF’), or
- an expectation of a significant future inheritance.
Advanced Estate Planning Lawyers
Most Lawyers do not offer a comprehensive Advanced Estate Planning service. To ensure that you are getting the best Estate Planning advice call now and to discuss your Estate Planning needs with one of our experienced Modern Estate Planning Lawyers.
