5 Common Questions When Considering Estate Planning In Australia

5 Common Questions When Considering Estate Planning In Australia

At Ballantyne Law Group on the Gold Coast, our will and estate planning lawyers are qualified specialists in these serious and sensitive legal processes. Where possible, we provide fixed professional fees for this work. When that is not possible – generally in more complex cases – we still provide cost-effective, transparent and time-costed services, with no surprise charges for photocopying, petties, postage and sundries. Read our latest blogs on 5 Common Questions When Considering Estate Planning In Australia .

How much does it cost to make a will?

Like that age-old question — how long is a piece of string? — the cost of making a will has no definitive answer. Wills vary in complexity and content, thereby affecting cost. However, what never changes is the wisdom of engaging specialist legal support for this important task.

At Ballantyne Law Group on the Gold Coast, our will and estate planning lawyers are qualified specialists in these serious and sensitive legal processes. Where possible, we provide fixed professional fees for this work. When that is not possible – generally in more complex cases – we still provide cost-effective, transparent and time-costed services, with no surprise charges for photocopying, petties, postage and sundries.

Why do I need a will?

Dying without a will – known as intestacy – means the distribution of your estate may not align with your wishes, even if they were known and understood while you were alive. To read more about the ramifications of dying without a clear, valid and up to date will, click here

The decisions you make around your death are among the most important in your life. Ballantyne Law Group’s cost-effective and plain English assistance covers all aspects of wills and estate planning, offering the personal service and professional rigour that are reassuring for you. By engaging Ballantyne Law Group, we work closely with you to create a strategy that represents your needs and wishes in relation to:

– your will and the administration of your estate

– taxation and other legal/financial commitments

– the stipulated distribution of your assets

For more information about the range of will and estate planning services provided by Ballantyne Law Group, click here

Why pay for a lawyer when I can use a will kit?

DIY will kits such as those available from the Post Office, newsagents and online, are inexpensive legal documents that cover basic matters around wills. Unfortunately, they are also prone to problems, including:

– being filled out incorrectly. This is a common issue that can result in a will being declared invalid, or equally worrying, being declared legally binding despite not meeting your intentions or wishes.

– lack of sufficient advice and information on more complex estate matters – for example, blended families, self-managed superannuation, taxation and financial commitments, business operations and more.

What is the difference between a will and an estate plan?

Wills and estate plans are separate entities. While a will describes your wishes after you die, an estate plan has relevance while you are alive. Ballantyne Law Group is pleased to help with your estate planning, factoring in considerations such as:

– a family business you would like to pass to a new generation

– wealth held through companies, trusts or superannuation

– family structure, whether traditional or blended with children and stepchildren

– concerns about hidden taxes, duties and future financial management

What is enduring power of attorney?

Power of attorney is your written authorisation for someone to act on your legal behalf. This authority spans private, business and legal matters. Enduring power of attorney goes a step further, authorising someone to make decisions for you should you become incapacitated and no longer able to do so for yourself.

Ballantyne Law Group’s Gold Coast-based will and estate planning specialists can guide you through all legal requirements pertaining to enduring power of attorney. We understand that everyone’s circumstances are different and always proceed professionally and personally.

For your convenience, we offer in-office appointments, video conferencing, online forms, free initial telephone consultations and fast turnarounds.

Contact our Gold Coast team of will and estate planning specialists today (07) 5606 7332.

 

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