Asset Protection

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Our goal is to help you safeguard and structure your financial and personal resources effectively, planning for now and the future. This can include preparing your will, enduring powers of attorney, forming a family trust and supporting executors managing estates.

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Trusts

The use of a family trust can be an effective way to protect your assets.

We can provide advice on the advantages and disadvantages of establishing a trust. We can also assist with the formation and operation trusts, including providing advice to potential trustees and beneficiaries on their rights and obligations.

Wills

Having a Will is important to ensure that when you die, your estate is distributed in accordance with your wishes. It can cover things such as specific gifts to people (e.g.: money, jewellery or furniture), your funeral directions and who you would like to be guardians of your minor children. It also specifies what you would like to happen to your residuary estate once your debts and expenses have been paid.

If you die without a Will, then you die “intestate”, which means your assets and possessions are distributed in accordance with the Administration Act 1969. This may have the unintended consequence of having your assets left to people that you did not intend to provide for. Your estate may also cost more to administer if you die without a Will.

Every person over 18 years old should have a Will, and we can assist you with creating one.

Enduring Powers of Attorney

Enduring Powers of Attorney enable someone to act on your behalf, should you be unable to do so yourself.

There are two types of Enduring Power of Attorney; one is for personal care and welfare and the other is for property. A personal care and welfare attorney may only make decisions for you when you have lost the capacity to make decisions for yourself. These can be decisions relating to your health or medical treatment.

A property attorney may make decisions for you either while you have capacity and/or if you become mentally incapable. These can be decisions relating to your assets and finances.

Every person over 18 years old should considering having Enduring Powers of Attorney, and we can assist you with creating these.

Estate Administration

We can assist with estate administration on the death of a family member. Administration can include applying to the High Court for a grant of administration; realising assets (e.g.: bank accounts and life insurance), paying any debts and expenses, and contacting the beneficiaries when the estate is ready to be distributed.

We work closely with executors throughout to ensure a smooth administration process and can also assist with any legal issues that the executors might encounter when administrating your estate.

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