Wills and Estates
Wills and Estates
A will is a legal and binding document that protects your interest in regards to the distribution of your estate and assets after you pass away. It complies with your wishes, and ensures your love ones are provided for.
A person’s personal estate involves everything they own, including your finances, property, investments, personal possessions, and life insurance.
It’s important to note that wills are not only for those who are elderly or sick. Life has a lot of unknowns, and in case you are in a situation where you are unable to make financial and healthcare decisions for yourself, you need to have established a plan for who will make these decisions for you and that your assets will be managed according to your desires.
What Is Estate Planning?
Estate planning is to ensure that there is a plan in place should something happen to you. It details what will happen to your estate when you pass away. It will also include how you may be cared for medically and or financially should you get to a point where you are unable to make your own decisions.
How We Can Help You Plan For The Future!
At JD Legal, our team will work with you to draft an appropriate will that follows your wishes. Our team can also help and work with you to amend or change any aspect of your existing will as required. We are here to help ensure that in the unfortunate event that you are no longer here, your family, and friends to navigate throughout the entire process.
Our team can help you with the establishment of critical documents such as estate plans, including wills and power of attorney.
Things To Consider
Business: If you own your own business or are in a business partnership, it’s essential to consider what happens to your share, should you happen to pass away. Sometimes a verbal agreement just isn’t enough, and investing in a legal document that outlines your plan is the best way to make for a stress-free transition for all parties.
Life Insurance: Life insurance is vital in anyone’s estate planning needs. Life insurance proves to be a way to ensure your loved ones are provided for financially when you pass away. Our lawyers can help clients with their life insurance or death benefit claims, helping many get the money needed to bounce back and regain control over their life.
Superannuation: Your superannuation must be considered in your estate planning needs. Our team can assist by examining how your entitlements in super or trusts are handled upon your death. We can also provide you with advice on how to manage and structure these types of finances in your estate planning needs.
Partnerships: Whether it is in business or investment, you have to consider what will happen should one of the partners die. We help you explore your options and how to leverage insurance or other means to meet your estate needs.
Testamentary Discretionary Trusts: We also specialise in testamentary discretionary trusts. Testamentary Discretionary Trusts are a special type of discretionary trust that is created under a will where the trustee performs discretion in the payment of income and capital of that trust to the beneficiaries. These trust can prove to be of value for taxation and asset protection purposes.
