Wills, Succession Planning and Estates

Wills

When to get a will Where there is a will there is a way! But Wills are not just for Senior citizens. Many children find considerable security in knowing their parents have set a clear path for their care should their parents or guardians come to an untimely death. Talking with children about your contingencies and detailing these plans in your Will provides an immediate direction for young families faced with a worst case scenario. Equally, if you do not have any obvious dependants then it is important to have a Will to avoid the Government taking control of assets on your demise.

All of our lawyers are able to draft Wills. This is an essential part of practice in regional Queensland. But beyond the basics of drafting a Will are a large number of special issues that need to be considered. For that reason we have developed our Estate Planning practice to provide you with up to date and timely advice on preparing your Will and estate planning so that on your demise your assets are distributed as you choose.

What is a Will?

A Will is a legal document which records your intentions as to who receives your assets, who will manage your affairs and who will look after your children after your death. If you do not have a Will at the time of your death, you risk the Government taking some or all of your assets when you die.

When to Make a New Will

Even if you already have a Will, you should consider making a new Will:-

If you have just got married as marriage revokes all earlier Wills. You can however make a Will in contemplation of marriage.
If you have separated from, divorced or lost a spouse.
If you have ended a de facto relationship.
When you have a child.
If you have recently inherited money, shares, a house, etc.

Definitions of Terms Used in Wills

Beneficiary	Person entitled to receive assets from a testator/testatrix's estate.
Bequest	Specific item left to someone under a Will - e.g. an item of jewelry, a painting, etc.
Estate	Term used to generally describe testator/testatrix's possessions, assets and affairs on death.
Executor	Male person appointed to handle the testator/testatrix’s affairs on death.
Executrix	Female person appointed to handle the testator/testatrix’s affairs on death.
Legacy	Amount of money left to someone under a Will.
Legatee	Person left an amount of money under a Will.
Residue	Remainder of assets once any specific bequests, legacies, expenses, etc have been paid.
Testator	Male person making a Will.
Testatrix	Female person making a Will.
Trustee	Another term used for the Executor holding assets in trust for a beneficiary of the Will.

What is a Power of Attorney?

In the event we can no longer care for ourselves it is important to have in place a method of ensuring that those people we trust the most have the power to look out for our best interests. A Power of Attorney grants those people we trust the most, the power to do this. It is the legal step that grants important powers to ensure that the care, welfare and administration of your financial and legal affairs are managed by those you most trust. Preparing these documents well in advance assists you and your family to prepare for your future care. It also may avoid conflict between loved ones as you have set a clear path for your care.
Our teams have extensive experience dealing with all aspects of Wills, succession planning, probate and estate litigation including:-

Preparing a Will (with a call out service where necessary)
Powers of Attorney
Probate
Will & Estate dispute resolution and litigation
Guardianship and administration
Superannuation death benefit claims
Business succession planning
Advice to trustees on trust administration

We have worked with generations of families in our region to address their concerns, assess relevant issues and provide sensible, practical and candid advice about the full range of options available to them. Our service is professional, cost effective and personal.

If you need further information please do not hesitate to Contact Us.

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Attorney Information Sheet (PDF)
Our Senior's Brochure (PDF)

Larry Bell Email: Click Here CV: Click Here				Margarett Kummerfeld Email: Click Here CV: Click Here


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"Bob and I have been clients of Larry since 1988 and Pam on front desk. We have had excellent service that time, and nothing has changed!" - Bob & Pat

"I have complete faith and trust in Larry Bell."

"Larry Bell's understanding & compassion of our situation, was nothing less than outstanding. He went above and beyond the call of duty and we will always be grateful to him."