Estate Planning

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Estate Planning

You’ve spent your life building your assets for your family’s future, now its time to ensure that upon your death your assets will pass to your loved ones and not to the government or other unintended beneficiaries. Estate planning ensures you enjoy the benefits of your assets now and provides for your beneficiaries effectively in the future.

We work with our client’s solicitors to ensure that their taxation and business circumstances are considered when drafting their wills including determining intended beneficiaries, reviewing issues, restructuring if necessary, and valuing businesses.

We have always encouraged clients to regularly review their wills. This is particularly important when your personal circumstances change, for example after marriage, divorce, the birth of children and retirement.

Like most professions there are often specialities within that profession. The drafting of a properly constructed will is a specialist area within the legal profession. The consequences of a poorly drafted will can be catastrophic including the loss of tax concessions or family disputes.

Benefits of estate planning

Estate planning is beneficial to:

  • provide for your family and also relatives that are in need
  • ensure your beneficiaries receive your assets promptly
  • ensuring your business continues efficiently
  • easing your family strain by making your funeral arrangements
  • reduce the costs of disposing of your estate
  • reduce the tax impact on your beneficiaries
  • make your retirement more comfortable
  • helping your favourite cause

How can we assist?

The partners of Allworths have specialised knowledge in this area. Our rural experience also means we are aware of the difficulties in succession planning for primary producers.

We can work with your existing solicitor or recommend one to ensure that your assets eventually pass as you intend in a tax effective manner.

Contact us today to discuss your estate planning requirements.