Will They Receive the Gift You Intended?
You’ve worked hard over the years to build up and protect your assets. But, if you don’t have an up-to-date Will, your loved ones and business partners may not receive what you want to pass on to them.
Your Will Ensures that Your Wishes (Usually) Prevail*
Without a Will:
- Your estate will be divided up using a set formula, according to the law.
- You do not get to choose who winds up your estate, and the Court will appoint someone willing to wind up your estate for you.
- If you don’t have relatives at the time of death, the State (Public Trustee) will receive your property, rather than others you may wish to bestow it on.
At Michael Paterson & Associates, we know you will want to prevent your family and business partners experiencing the stress, confusion, and heartache of a disputed estate or contested Will. We will help you to appoint an executor who can represent your interests from the date of your death.
Our experienced lawyers will be able to support you with expert, tailor-made advice on dealing with your personal effects, company shares, and control of business entities, and minimising the potential for blended families fights and conflicts between your business partners.
We will help you determine whether you need:
- A simple Will, which is sufficient in most cases.
- A more complex Will with a full discretionary trust, if you have significant income-producing assets, which may be the family home.
* Note that it is possible for disgruntled relatives to make claims against the Estate – see Probate, Letters of Administration, and Winding Up Estates [hyperlink to Probate pages]
Revising your Will
Did you know that marriage or divorce automatically revokes your existing Will, unless it is said to have been made in contemplation of that specifc marriage or divorce? We can help you to revise your Will after significant changes such as marriage, divorce, or re-marriage.
You may be considering writing your own Will, but making a Will at home has considerable risks that may render the Will invalid, leaving your family and business partners in a difficult position. Without the assistance of professional lawyers, there is no guarantee that this document will be complete or witnessed correctly.
Your Will is the most important document you will ever create. It is well worth investing in a proper Will-writing service so that there is complete clarity after you’re gone, and nothing is left to chance.
A Will is Sometimes Not All You Need
We can also help with:
- Binding death benefit nominations for superannuation, with fall-back provisions in the Will, if they expire
- Partnership, Shareholder,and similar Agreements for succession planning with your business partners to lower the risk of fights between them and your next-of-kin.
What If You Cannot Look After Your Affairs During Your Lifetime?
What happens to you, your assets, or your business interests if you are in a coma, or you suffer a mental health crisis or Alzheimer’s disease?
The lawyers at Michael Paterson & Associates can prepare documents to cover this situation:
Let us help you achieve complete peace of mind that your affairs will be handled competently after you’re gone. Contact us now for advice on writing or revising your Will. Call our experienced team today on (08) 9443 5383 to make a no-obligation initial appointment – or complete the contact form below.