An important part of preparing a Will that is appropriate to your circumstances is working out exactly what you are hoping to achieve. Some questions worth considering include:
- Do you want a say in who gets what?
- Do you have family members with special needs to accommodate?
- Do you understand who could make a claim on your estate and how you might be able to fend off such claims?
- Do you need to consider tax effective and asset protection measures for your family members who will inherit from you?
- Do you understand the risks associated with “Will-kits” and do it yourself Wills?
Atkinson Vinden can discuss your whole family and financial structure with you and structure an effective way of dealing with your estate. This will often include giving consideration to the legal entities which own the assets which you might otherwise gift in your Will. Here are some examples:
- assets such as property, shares or businesses can be owned and set up in different ways for different purposes
- depending on the type of asset and the intentions for its future disposal the types of structures that may be considered include-
- discretionary trusts
- unit trusts
- joint ventures
- self-managed super funds, or
- a combination of any of the above
Atkinson Vinden can help you decide an appropriate arrangement and then prepare the necessary documents to make that structure work, that could include:
- partnership agreements
- shareholders agreements
- buy/sell agreements
- unit holder agreements
- joint venture agreements.
The place to start is to make an appointment with us to go through the various options which may be appropriate for your particular circumstances. Give our estate planning team a call now on (02) 9411 4466 or email@example.com