A professionally prepared will is one of the greatest gifts you can give to your family and those you leave behind. It is your opportunity to express your intention, ensuring that your assets pass to the right people and that they do the most for your family and beneficiaries.
The right will preparation and estate planning helps to:
- Minimise the amount of the estate lost to tax
- Clearly demonstrate your wishes and intentions for your assets to your family
- Set up your children and grandchildren with assets that can benefit them throughout their lifetime
- Avoid disputes arising amongst beneficiaries
- Make sure you have executors who will carry out your wishes
Wills and Testamentary Trusts
Your estate planning process is unique to you and your family. You need a will that takes account of your unique situation and will operate effectively once you’re gone.
Depending on your situation, you may only need a straight forward will setting out how your assets are to be distributed. This is often the case if you are an employee or retiree and your assets are property or shares passing to your spouse or children.
If you have a more complex situation requiring a detailed will document with complex clauses and provisions. In some instances, a Testamentary Trust Will may be beneficial in protecting and distributing your estate.
A Testamentary Trust Will is a Will that includes the creation of trusts as a way of ensuring your wishes are achieved. These may be required particularly when:
- You have children who are not yet 18 years old
- Your net worth is over $1 million (including life insurance and superannuation)
- You own a business or you are in a partnership
- You have a particular asset that you want to protect from being sold or broken up
- You have a blended family
- You have beneficiaries who may not be able to manage their own money and need a system to help protect their inheritance
- You want to minimise the impact of tax on your estate
Testamentary Trust Wills are particularly valuable for families with farms and agribusinesses where some family members may receive the bulk of the enterprise, while other “off-farm” beneficiaries do not.
When you meet with us we will carefully review your situation and recommend the type of Will that is the best fit for you and your family.
Powers of Attorney
An Enduring Power of Attorney is a document giving someone else the ability to make personal and financial decisions on your behalf in the event that you should lose capacity.
Contrary to common belief, Enduring Powers of Attorney are not only required for the elderly or those suffering a known illness. Sadly, accidents and unexpected illness can occur at any time. Those that are responsible for looking after your affairs at times like these, benefit from the certainty that an Enduring Power of Attorney can provide.
The way the document works is entirely up to you. You may choose for the document to only take effect if a doctor confirms that you don’t have capacity to act for yourself. Alternatively, you may entrust your family or trusted friends with financial decision-making power at any time.
You can decide whether it applies only to financial matters, health matters or both. You can specify how your attorney/s are to make decisions, whether individually or together.
An Enduring Power of Attorney is an important part of any estate planning process which can be drafted as a standalone document, or in combination with your will and estate planning matters.
Advance Health Directives
Advance Health Directives allow you to specify, in advance, how your medical treatment should be provided should you become ill and unable to voice your wishes.
Advance Health Directives give clear and specific instructions about your medical treatment. These are an ideal way to give peace of mind to your family and medical providers about what your wishes are.
We encourage you to call and talk to one of Maxwell & Lancaster’s friendly and approachable team members about your Will, Enduring Power of Attorney or Advance Health Directive needs.
TESTIMONIALS
Please pass on to all the professional people at your workplace, our sincere appreciation for the assistance they have given us during selling and buying property. We are truly grateful. Holly, please accept above as including yourself.
Thank you so much!
– Sinclair and Gwen
Dealing with a stressful and emotional situation was made easier by Michael’s easy going and reassuring manner. At all times I felt his understanding of my situation and he was always willing and able to impart his knowledge and advice in an easy to understand way. A lot of stress was taken out of my situation by his enthusiasm and the rapport which was quickly built. I would highly recommend to have dealings with this firm.
– Katrina
Just a quick message to say a big thanks for all the work and the help you provided to coordinate the sale and purchase of our properties.
It was seamless and stress free from our end, and that is largely attributed to the professional, friendly support offered by yourself (Holly) and Rebecca.
Please pass a big thanks on to Rebecca for us, and be certain that we would use no other firm but Maxwell Lancaster in the future.
Once again, thank you.
– Ash & Anniina
Our whole experience with Rebecca Lancaster was easy and professional. I highly recommend Maxwell & Lancaster Solicitors for any legal requirements.
– Sally & Kevan
I have been dealing with Maxwell & Lancaster Solicitors both personally & professionally since 2013. From day one I found Rebecca, Neil & the team very easy-going and approachable but more importantly, they are extremely efficient & thorough in everything that they do.
– Ben Lubben, Sales Consultant – Southern Downs Realty
We used Maxwell & Lancaster Solicitors for our property purchase. Rebecca and her team were so knowledgeable and efficient, and took all of the stress out of what is a major life decision. As far as I am concerned, Maxwell & Lancaster Solicitors set the standard. We have since referred several family members to Rebecca and I know they are in excellent hands.
– Nathaniel & Krysten
The Team at Maxwell & Lancaster Solicitors made updating my Will and Enduring Power of Attorney so easy. They took the time to get to know me and how I wanted my documents structured and I feel really relieved knowing that everything is organised and that my family will be well looked after.
– Emma
We highly recommend Maxwell & Lancaster Solicitors based on the professional advice that we received. We were well informed and supported by their team for the duration of our first house purchase.
– Piers & Sarah
Rebecca and her team have definitely taken away the anxiety of visiting a lawyers. The staff are professional, yet friendly and relaxed and always find a way of making me feel comfortable.
– Neil
It was so lovely to deal with Madeline, after mum passed away she really made a difficult time for our family much easier to work through..
– Joan