If you do not have a will, or if your will is out of date, you lose control as to how your assets will be distributed on your death. Instead of you deciding who will receive the benefit of the assets you have worked hard to accumulate during your lifetime, the legislation passed by the government will make that determination for you. Few people realise that if you have no will but you have a spouse and children, your spouse will not receive the full estate on your death. Depending on the value of your estate, it will be divided between your spouse and your children. This may have a devastating effect on your spouse’s quality of life after you die.
If you die without a valid will, it places additional obligations, expense and stress on your loved ones at a time they should be allowed to grieve. A valid will makes the estate administration process straightforward and time efficient for your family.
A will ensures:
- Your estate is distributed to the people you choose;
- Your estate is administered by a person or people of your choice and whom you trust;
- If you have minor children, you can nominate your wish as to who will care for them; and
- You have the ability to protect the assets you have built and minimise tax by way of a testamentary trust.
Making sure you have a valid will does not need to be time consuming and can take as little as an hour of your time. We have telephone and video conferencing facilities available if you are not comfortable with meeting face-to-face. We also offer face-to-face meetings for those who would like to discuss their circumstances in person – we ensure full compliance with social distancing and cleaning requirements.
The pandemic has had an extreme effect on separating families. The Courts have had to severely limit in-person hearings, making it difficult to negotiate financial settlements and child custody arrangements.
We can offer you an alternative to the Court process; Collaborative Practice.
Collaborative Practice is a longstanding alternative to the hostility and dysfunction typically experienced in courtrooms. The Court closures do not affect Collaborative Practice as the process can be conducted via virtual online meetings.
- Avoids the need to go to Court;
- Creates a unique and flexible action plan which can address both financial and child custody matters; and
- If required, can involve a team of experienced lawyers, mental health professionals, child specialists and financial experts.