Wills & Estates
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.
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.
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.
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.