Estate Planning in Adelaide and South Australia
Many people mistakenly believe that having a simple legal Will covers all their needs, yet a Will alone is only one piece of the legal protection puzzle. Put your affairs in order, and learn how to protect yourself, your family and your assets with modern integrated estate planning.
Without proper integrated estate planning, you’re leaving your wealth and assets quite vulnerable and unprotected. In some circumstances, it can mean the difference between losing your home, your independence and quality of life OR keeping them when unexpected events arise, like an accident or illness that leaves you incapacitated.
Dying Without a Valid Will
If you die without a Will, this is called dying intestate, and your estate may then be divided according to a Government formula – which may not reflect your wishes and which may cause undue hardship, cost and delay for your family. In situations where you have no living relatives closer than cousins, your estate may go to the State Government.
A Will is particularly important to update after marriage, divorce or if you are living in a domestic or de facto relationship. Other people can also make a claim to your estate if not adequately provided for under a Will.
People who use DIY Will Kits think that they did the right thing, filled the form correctly, and mentioned all what they want to say. However, their lack of legal knowledge places their family at great risk, because it is far too easy for them to make terrible mistakes in the DIY Will, which won’t be revealed until after they’ve died, when it is too late to fix them.
Every DIY Will Kit contains a disclaimer that the instructions they provide are not a substitute for legal advice. Why would you rely on this, when they offer no backup or support for your family after you’re gone?
These kits are really just expensive stationery. They don’t offer any real guidance or security.
Any mistakes you make with those DIY Will Kits won’t become known until after you’re gone, and then it will be too late to fix them.
Trying to fix problems with a DIY Will Kit frequently involves expensive litigation, delays and massive stress for your loved ones.
Making a Will is a specialised area of law, requiring expertise, time and planning.
Don’t risk your family’s future. Consult an expert lawyer specialising in Wills and Estate Planning.
Issues to Consider
When thinking about making your Will, you need to also consider your superannuation and life insurance, any debts owed by or to yourself, jointly-owned property, care & guardianship of vulnerable & young family-members, family businesses, trusts, companies, and much more.
Your Will is one of the most important legal documents you will ever sign.
It is the only way, on your death, to direct who is to take charge of your affairs and to ensure your assets will be distributed to the beneficiaries you choose in the way you want.
Will making is a highly specialised task, with potentially complex financial, legal and tax implications that need to be considered to ensure that your estate is distributed as you wish.