Swanwick Murray Roche Lawyers

74 Victoria Parade, Rockhampton QLD 4700   •   (07) 4931 1888   •   PORTAL

Estate Planning

Swanwick Murray Roche | Lawyers & Solicitors | Rockhampton & QLD & CQ

What is Estate Planning?

Estate planning is the process where you and your advisors (typically a lawyer and accountant) sit down and plan out an effective strategy to do the following:

  • balance the risks of litigation on your estate;
  • cater for disabled beneficiaries of your estate;
  • provide for bankrupts (or those who may potentially be bankrupt);
  • care for your underage children;
  • exclude people from your Will who may have an entitlement to claim;
  • take advantage of any tax concessions;
  • set up structures to reduce tax thresholds applicable to the gift for your beneficiaries;
  • plan out management of any businesses/companies during any period which you have lost capacity or after you pass;
  • ensuring that particular assets reach the people that you want to receive the assets; and
  • other common issues.

Estate planning will typically involve the creation of a combination of documents including:

  • A last Will & Testament;
  • Enduring Power of Attorney;
  • Company Power of Attorney;
  • Advance Health Directive;
  • Testamentary Trust Will.

Estate planning also typically involves some transactions taking place during your lifetime including (depending on your circumstances):

  • transfers of property;
  • loan agreements;
  • option to purchase agreements;
  • mortgages on property;
  • occupation & licence agreements;
  • co-owernship agreements;
  • other similar documents.

Perhaps most importantly, estate planning is a considered process designed to maximise the benefit of your estate for your intended beneficiaries.

Some Common Questions that Good Estate Planning Will Deal With

  • What if I’m married but wish to exclude my spouse from my Will?
  • What if I’m married and separated but not divorced (or have completed a property settlement) and want to exclude my spouse from my Will?
  • What if I want to exclude a child or grandchild or stepchild from my Will?
  • Do I need to provide for stepchildren or ex-stepchildren in my Will?
  • What if one of my children (or intended beneficiaries) are bankrupt or soon to be bankrupt? Is there a risk to my estate?
  • Can my daughter-in-law/son-in-law claim part of my estate or take it from my son/daughter?
  • Is there a way to get a better tax rate for my children when they inherit my assets?
  • How do I ensure that my disabled child is cared for after I die? Are there any legal protections and documents I should set up?
  • I have loaned a lot of money in my life to one of my children and none to the other – do I need to deal with this in my estate planning?
  • My son had just split up from his wife. If I die, will my estate be part of the property settlement or will it go to my daughter-in-law?
  • I’m worried that my child’s partner will split up with him after I die and take part of my estate in a property settlement. Can I do anything to protect my assets for my child?
  • I have multiple companies and trusts and am not sure how I should split these up fairly for my children.

 

Our Team

Our experienced wills and estates lawyers are well trained. They keep up to date with daily changes in the law to provide you with up to date legal advice.

Click on our staff profiles to learn more about each of our experienced family law team members:

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