Wills and Estate Planning at Paul & Paul Lawyers

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Wills and Estate Planning
Your Will
Probate

Wills and Estate Planning      Return to TOP

Estate Planning is very important. It is the method by which you and your spouse can preserve and allocate your assets and resources appropriately amongst children and grandchildren in years to come.

Estate Planning is not just about having a Will prepared. Careful Estate Planning includes addressing issues that will provide you with the opportunity to develop assets over time and take into account potential tax implications.

Estate Planning may involve the creation of a Family Trust, or a Testamentary Trust in your Will as the vehicle by which your assets can be preserved and quarantined from claims. The creation of a testamentary trust in your Will may reduce the income tax payable by your children or grandchildren.

Estate Planning is concerned with all your assets, including life insurance policies, superannuation interests, and assets owned within a family discretionary or unit trust. It is important to note that you have an option of dealing with your superannuation entitlements either in your Will, or in a Binding Death Nomination. There may be tax implications, depending on what option you choose to use.

Contact Paul and Paul, specialist Estate Lawyers, to find out how we can help you with Estate Planning.

Your Will     Return to TOP

Paul and Paul can assist you to prepare a Will.

A Will is a document which allocates your assets upon your death. The preparation of a Will is very important, and we will draft a Will to represent your wishes, from basic Wills to very complex Wills. Wills should be revised from time to time, particularly when significant changes occur in the family, whether personally (e.g. birth, death, illness, separation, divorce, remarriage etc) or in the commercial sense.

A Will should be made in contemplation of your marriage, divorce or re-marriage. Unless specifically provided for in the Will, marriage will automatically revoke any existing Will, and divorce may achieve a similar result, depending on the terms of your Will.

We can advise you as to what approach will be of benefit to you.

Contact us directly to find out how we can help you prepare your Will and preserve your assets for your loved ones.

Probate     Return to TOP

After the death of a person, and where there is a valid Will made by that person it is necessary for the Executor of the deceased to apply to the Supreme Court of NSW for a Grant of Probate.We can prepare the relevant documents for you where there is a valid Will and you have been nominated as Executor of that Will.

The Supreme Court then grants Probate of the Will. This authorises you, the Executor, to receive the assets of the deceased in accordance with the provisions of the Will and/or to transfer those assets to a beneficiary.

If there is no Will, the laws of Intestacy apply, and a special application to the Supreme Court is necessary.

Paul and Paul, as a specialist probate lawyer, can assist you to carry out your obligations as Executor.

We can assist you to make any necessary application to the Supreme Court, and to administer the Estate.

Contact Paul and Paul Lawyers to find out how we can help you with wills and probate, or any other family law services.