Making a Will isn't just about legal decisions, and Estate Planning is not just about Wills.

There are many decisions that go into simply drafting your Will however that your lawyer can't make for you, decisions like:

 

  • Choosing an Executor
  • What assets should you include in your Will?
  • Who are your beneficiaries and who can make a claim against your Estate?
  • What do you need to do with your superannuation?
  • Should you give a non cash gift, like a right to reside?
  • Do you need a testamentary trust or a Mutual Will?
  • What happens to your Cyber Assets?
  • Who needs your passwords?
  • Who should look after your children?

 

 

It seems obvious

Many of these decisions seem obvious, until your lawyer starts to push you with further questions.

For instance we commonly get instructions that all the children should receive the Estate, and all the children should be executors.  We advise our clients against multiple executors, it is a lot of work to be an executor and making many people do it jointly just makes it more work.  But then which child should you choose as an Executor?  Should you tell the kids which one you chose?  Should you choose a friend to do it instead?  What if one of the children is having financial problems when you die?

What assets should you include in your Will, you might say all of them?  Well certain assets fall outside of your Will, and so you have to deal with those independently.  Of the assets that are caught by your Will do you want to put them all in a bucket, sell them all, distribute the cash, or are there assets that need to be dealt with differently?

 

 

Our free course

If you sign up to our 'Estate Planning' mailing list then you will receive nine days of emails stepping you through these decisions.  It is free to sign up for our estate planning mailing list, and when you are preparing your Will all of the information will be sitting there in your inbox for you to look at.

 

 

Estate planning is more than Wills

If you would like to receive more articles like this, then please join my mailing list for wills and estate planning, "Estate planning is more than Wills".  Any new articles on these topics you will receive straight to your inbox.

 

 

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Come to us to get your Estate sorted out. It is so important, and it is so much more than Wills.

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We are walking distance from Penrith Train Station, and we have ample parking.

We serve real coffee.

We speak plain English.