Estate Planning in Adelaide and South Australia

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.

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.

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.

Having a professionally-prepared Will can give the following types of benefits:

Click on each item to expand or collapse it

Secure children’s future

If your children are under the age of 18 years, you may choose to nominate guardians for them in your will and to make arrangements for their maintenance and education

Marriage

It is not commonly known that marriage automatically cancels all previous wills. So if you have made a will before you married and still want to continue to provide for those beneficiaries or make arrangements to cater for the new circumstances, you must make a new will.

Domestic or De facto relationships

If you die without a will your domestic or de facto partner may not automatically be entitled to your estate. He or she might stand to lose the assets and treasured mementos that you want them to have.

Early distribution of estate

A professionally drawn and executed will greatly assists the cost-efficient administration of your estate and the early distribution of your assets to the beneficiaries named in your will.

Decide who benefits

If you die intestate, that is without leaving a will, your estate is divided according to the law and you will have no say in how your estate is distributed.

Choose your executor

When you make a Will, you appoint an executor who is responsible for looking after your estate and distributing your assets according to the instructions contained in your will.

Changes to your Will

You should consider alterations to your Will as your circumstances change. Marriage, the birth of a child, the acquisition of new assets or a divorce are just some of the events which may cause you to want to change your Will.

Why Choose Genders & Partners to Assist you with Your Estate Plan?

We are specialists in this area of law, and are happy to offer expert advice and practical help when it comes to making any alterations. Many people mistakenly believe that having a simple legal Will covers all their needs, yet it’s only one piece of the legal protection puzzle. Without proper estate planning, you’re leaving your wealth and assets quite vulnerable and unprotected. In some circumstances, it can mean the difference between having your wealth distributed the way you want, or having it given to those you don’t want anything to do with anymore. Or it may even be the difference between losing your home and keeping it, when unexpected events arise, like an accident that leaves you alive but incapacitated. Estate Planning in Adelaide goes beyond just creating a Will. It may also involve:

  • financial and tax planning;

  • Wills;

  • living wills, powers of attorney and advance directives;

  • living wills, powers of attorney and advance directives;

  • life insurance;

  • guardianship of infant children;

  • trusts;

  • funeral planning;

  • superannuation issues.

An Estate Plan prepares you for dealing with your financial advisor and may even help you and your family to save hundreds of dollars in professional fees and taxes. It helps you understand all of the financial, legal, and human issues around estate planning so you can protect yourself, your family, and your business. It can include planning ideas for singles, common-law, and same-sex partners. An Estate Plan helps you minimise estate and income taxes, administrative expenses, executor’s commissions and legal fees. Your plan can help you determine what steps you need to take to help provide an adequate income to your survivors. An estate plan helps you preserve the assets you have worked hard to accumulate.

SPECIAL REPORT “7 Things You Must Know
Before You Make Your Will”

In this report you will Learn:

Genders and Partners | Top 10 Estate Planning Predictions For Australia - Lawyer Adelaide

  • Why home-made Wills can be a LOT more expensive than you might think.

  • The secret weapons used by the rich & powerful to protect their assets, and transfer their wealth two or three generations ahead.

  • How Estate and Trustee Companies make BIG money from “free” Wills.

  • The Most Common Estate Planning Mistakes, how they can cost your family a fortune, and How to Avoid Them.

  • The Elements of a Sound Estate Plan – why a Will alone is not enough.

  • How to Make Sure Your Assets Stay in Your Family and are not lost to creditors, lawsuits or ex-spouses.

  • How to guard against challenges to your Estate after you’re gone.

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