Where does it come from?
Having a simple, straight-forward Will is highly desirable, but often your family circumstances, asset structure, superannuation and related entities like companies or trusts, may call for significant consideration when preparing your Will, and in estate planning generally. It’s better to be safe than sorry. At Pace Lawyers we understand that sometimes life can throw you a curve ball and we want to help you prepare for as many of those circumstances as we can. It’s never too soon (or too late) to start planning for the future.
Wills & Estates
Do you have multiple trusts, maybe a complex corporate structure or a blended family to consider? Or perhaps you have a ‘simple’ arrangement where you will be leaving everything you own to your partner? Either way, Pace can work through the complexities of your Will with you to make sure you’ve covered all the bases, so that your loved ones will be protected and provided for according to your wishes.
Succession Planning
There are many ways in which a professionally drafted Will can enhance the financial benefits to a beneficiary, and at Pace we will help you consider issues such as capital gains implications, specific bequests, particular needs of a bankrupt, mentally incapacitated or spendthrift beneficiary, distribution of superannuation, transfer of business interests and asset management. You may need to consider control and ownership of trust structures and business interests, as well as the need for life estates or a power of attorney. Let the experienced team at Pace Lawyers assist you with the utmost discretion and without any drama. Law, done better.
FAQs
A professionally drafted will helps ensure your assets are distributed according to your wishes, takes into account complex family or business structures and reduces the risk of disputes or unexpected tax consequences for your beneficiaries.
A simple will records who should receive your estate when you die. Estate planning goes further, considering trusts, companies, superannuation, blended families, vulnerable beneficiaries, tax implications and succession of control in order to protect wealth across generations.
Yes. As part of a comprehensive estate plan, the firm can prepare powers of attorney and advance care directives so trusted people can make financial, legal, health and lifestyle decisions on your behalf if you lose capacity.
Succession planning focuses on who will control and benefit from key assets, businesses and trusts when you die or step back from day to day involvement. It is especially important for people with family businesses, multiple properties, trusts, companies or blended families.
If you die without a valid will you are said to die intestate. South Australian legislation then decides who receives your estate, which may not match your wishes and can create additional expense or delay for those you leave behind.
Your will can be structured to protect beneficiaries who are bankrupt, have a disability, receive government benefits or are not good at managing money by using tools such as testamentary trusts, conditions, staged distributions and the careful choice of executors and trustees.
Where possible, Pace Adelaide Legal provides transparent pricing, including fixed fee options for certain legal services so you know what to expect.
Jessica Sinclair
Chief Counsel/Family Dispute Resolution Practitioner