Estate Planning & Succession Planning - Melbourne

You have worked hard for your assets and they are valuable. You need to carefully plan what should happen to them in the event of your death. Estate planning allows you to do this.

Most people will want to consider estate planning when they commence owning assets of some value or when there is a change in their personal circumstances, such as puchasing a home or significant asset, upon marriage or separation, when your children become adults and you consider they should be appointed as executors, upon retirement, upon the death of your spouse and in many other circumstances.

If you do not properly plan for the passing of your assets on your death you run substantial risk. Your assets may be subject to taxes or duties which could have been avoided. The distribution of assets might not be as you wish possibly resulting in a disagreement between your children or dependents which often leads to expensive court proceedings and fractured family relationships.

Harwood Andrews Lawyers Wills and Estates department in Melbourne is headed by an accredited specialist in Wills and Estates. The team is devoted to working in the estate planning area. In addition, Harwood Andrews Lawyers also have accredited specialist lawyers in taxation and business law which are areas highly relevant in estate planning.

Harwood Andrews Lawyers can assist you with advice and assistance in considering the following aspects of estate planning:

• your will, which is obviously a key document;
• executors, trustees and guardians, who should be appointed to these roles;
• assets in family trusts, which are not controlled by your will and require other methods of control;
• business succession, where you own a business or a share in a business;
• life insurance and its use in estate planning;
• farming properties, which can pose particular challenges in estate planning for farmers;
• separated couples, second marriages and children from different marriages;
• mutual wills and testamentary trust wills where these are appropriate;
• taxation, which is always relevant in estate planning;
• superannuation and how your benefits are distributed, not necessarily in accordance with your will;
• taxation of superannuation benefits which should always be taken into account;
• loved ones with disabilities who might require the use of protective trusts or special disability trusts.

The Estate & Succession Planning Specialists at Harwood Andrews Lawyers Melbourne can provide you with guidance and advice in these areas, no matter what stage of your life you may be at.