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.
Even if you have a legal Will, that’s only one piece of the puzzle to protect you, your family and your assets. Without an integrated and up-to-date estate plan, you are gambling with your future.
Without an integrated estate plan, you are leaving important decisions about the future of your assets to faceless strangers or government bureaucrats… who could easily distribute your wealth very differently than you’d expect (and fail to pass on your legacy to your preferred beneficiaries)
That is where we at Genders and Partners, as expert estate planning lawyers in Adelaide, can assist you to benefit from our decades of specialised legal experience, and “insider” secrets, some of which have been jealously guarded by the high-priced lawyers of the rich and powerful for years (it can save your family tens of thousands of dollars in legal fees and taxes, hundreds of hours of time, and untold emotional damage).
What is your Estate?
In case you think “estates” are just to do with the ultra-wealthy, the legal term “estate” really just means your “stuff” – it is everything you own or control. This includes shares, superannuation, insurances, real property (houses and land) and possessions (such as vehicles, valuables, cash and savings, furniture and electronics, sentimental items). It also includes things you control or are responsible-for, like businesses, companies and trusts.
Even if you don’t think you have many assets, you might be surprised at the extent of your estate. Most people nowadays have superannuation, and many super funds carry life insurance or “death benefits”. When this is added to your possessions like a car, a bank account, some furniture and jewellery, it is easy to see how it all can add up to quite a large sum. So you need to make sure you protect it, and leave it to people or charities that you care about.
After all, if you had nothing to protect, why lock the doors when you leave home each day?
It is dangerous to assume your estate will automatically pass to your spouse or partner when you die in the absence of having made a valid Will. In some cases, especially those involving second marriages or domestic partners, some of your loved ones may receive nothing. Fixing this problem after your death (called “Rectification”) to distribute your estate the way you intended may result in costly court proceedings that may take years to resolve.
What is Estate Planning
Estate Planning includes creation and advice upon Wills, Powers of Attorney, Advanced Medical Directives, Testamentary Trusts, Discretionary Trusts, and advice upon legal “titling” and registration of assets.
Preparation and education is an important part of the process. There’s not much point trying to work out a strategy for asset protection if you can’t identify which assets you own & which you control, and understand the difference! Let us help you organise and recognise what you’ve got, and what you need to do to protect it.
We’ll also help you to plan for illness & incapacity and advise how to keep your estate plan up to date.
Why Choose Genders & Partners as Your Estate Planning Lawyers?
Founded in 1848, Genders & Partners is the oldest law firm in South Australia. We choose to specialise in just a few areas of law closest to most families, so that we can provide the legal services that matter most to you.
The way we handle Estate Planning involves not just the creation of an effective, legally-sound and comprehensive Will, but several other important components including:
- Advice & creation of appropriate directives & delegations, such as powers of attorney and powers of guardianship.
- Advice & creation of testamentary trusts within the Will.
- Expert supervision of the execution of the documents.
Expert Estate Planning Lawyers in Adelaide
Choosing the right estate planning lawyers can make a huge difference in ensuring proper distribution of your assets after death, minimising or avoiding any legal issues that may arise, and protecting your hard-earned assets. Most importantly, it helps save your family all the trouble, as well as thousands of dollars in legal fees and taxes, after your death. For friendly and expert assistance from specialist Estate Planning lawyers in Adelaide metro area, contact Genders & Partners – the oldest (and one of the most respected) law firm in South Australia. We have been protecting South Australians and their families since 1848.
Genders and Partners can help you to protect yourself, your family and your assets. Let us assist you with Estate Planning in Adelaide metro area and all over South Australia, for your family’s future.