Wills & Estates

Wills

Just thinking about the possibility of a loved one passing is extremely tough, which is why George Lawyers take every step necessary to make sure you feel comfortable with the will making process.

George Lawyers can help you construct an effective will and provide advice on the legal and practical implications of your wishes. Keeping things current and in line with the changes of your needs and the law, we can help you take the most effective steps for your future.

George Lawyers key areas of expertise include:

  • Simple wills
  • Complex wills incorporating testamentary trusts
  • Wills incorporating charitable foundations
  • Asset protection strategies
  • Business succession planning
  • Personal succession planning
  • Family discretionary trusts

When it comes to planning and constructing a will, there are many different steps to consider, roles to appoint and responsibilities to delegate. From start to finish and everything in between, George Lawyers can help you and put your mind at ease throughout the whole process.

As many people are unaware of some the terminology involved in the will-making process, we have explained some of the terms for you below – to make things a little clearer.

What is a Will?

A Will is a legal document that ensures your assets will be distributed according to your wishes after you’re gone. Should you pass without a will, then your assets will be distributed according to the laws of intestacy.

Executor
A person’s will, will specify exactly what is to happen with all of their assets upon their death. The person that the deceased has chosen to administer their Estate is known as an Executor. The Executor is responsible for carrying out the wishes of the deceased outlined in the Will.
Beneficiary
A beneficiary is a person who is included in the deceased’s will and receives money or other benefits upon their passing. A beneficiary can include relatives, spouses (married and defacto) and friends.
Testator
A testator is person who has written and executed a last will and testament that in effect at the time of their death. It is the person who makes the will.
Testamentary Trust

A Testamentary Trust is created through a will, giving the beneficiary’s estate protection during their lifetime. It only comes into play after the holder of the will dies.

A Testamentary Trust is designed to provide maximum flexibility and allow for distribution of capital and income, as well as providing protection of your beneficiaries from third parties, such as creditors. 

Distribution of Assets

When someone talks about the distribution of assets, they are referring to how an individual’s belongings, property and other assets will be divided upon their death. The individual that carries out the will, or the executor of the will, is responsible for the handling of an individual’s estate when they die, which includes allocating these assets to the recipients.

George Lawyers can assist you and your executors to determine how best to manage your estate for the benefit of you beneficiaries, taking into consideration risks and other issues. Give us a call at Newstead on (07) 3062 9427 or Browns Plains on (07) 3809 4957.

Contact Us Now

George Lawyers offer trusted services on Wills & Estate law, please fill in form below or give us a call today on:

Newstead

(07) 3062 9427

Browns Plains

(07) 3809 4957
 

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Wills & Estate

If you need help planning and constructing your or a loved one’s will, give us a call

Two Convenient Locations

Newstead
(07) 3062 9427

Browns Plains
(07) 3809 4957