A 25% discount on Estate Planning
Fees applies to holders of a Seniors Card.
Estate Planning and Will
Preparation
Wills
What is a Will?
A Will is a document that says what is to happen to
your assets after your death.
It is responsible to have a Will, as it lets you provide
for your loved ones and remove the uncertainty about how your estate
is to be handled.
It does not matter if your estate is large or small,
it is still important to see that your assets are distributed in the
way that you intend, and that the chances of any misunderstandings,
arguments or added emotional distress are minimised for those you
leave behind.
If you do not have a Will that disposes of all your
assets, State legislation will decide how all or part of your estate
is distributed. If you are over the age of 18 years you should make
a Will.
Do you know your obligations?
Under Testator's Family Maintenance Legislation your
Will could be challenged and overturned if you have failed to make
adequate provision for your dependants (spouse, partner or children).
It is important you understand these obligations, so
that you can plan the distribution of your estate accordingly.
Do you need a Will?
If you die without making a Will, everything you own
will be distributed according to relevant State legislation - which
means your wishes are not taken into account. The formula under the
Legislation has not been reviewed since 1977 and is unlikely to meet
your family's needs.
By making a valid Will now you avoid the possibility
of your estate passing to someone you would not intend to benefit.
Your capacity to make a Will.
A person must have "Testamentary Capacity"
to make a valid Will. Where a person suffers an intellectual impairment,
or by reason of illness or advancing years is suffering from memory
loss or dementia, care must be taken to ensure they retain the testamentary
capacity to make a Will.
If there is even a remote possibility this applies
to you, we recommend you consult with your doctor and Tasmanian Perpetual
Trustees to ensure the details of your mental capacity are properly
recorded at the time you make a Will.
This will make it far more difficult for anyone to
challenge the Will on the basis of lack of mental capacity after you
have died.
Estate Planning
Estate Planning is used by people to protect those
they care about – by documenting, in a Will, how they want their
assets (estate) managed and distributed in the event of their death.
It is crucial not to overlook any aspect of your circumstances in
the Estate Planning process – or to allow any errors or misunderstandings
to slip through. If that happens there may be dire consequences, including
long legal disputes, friction between family members and potential
loss of benefits.
The Estate Planning professionals at Tasmanian Perpetual
Trustees offer you several significant advantages. As well as their
in-depth experience and expertise they also offer a unique Estate
Planning Checklist. It also provides for Estate Planning advice that
is personally tailored to your specific needs.
This comprehensive approach will allow you to feel
secure in the knowledge that every aspect of your estate will be covered.
Our Estate Planning professionals will use their expertise to ensure
clauses such as an 'equalisation provision' are included in your will
to help maximise the value of your beneficiaries inheritance.
It only takes an hour or so for the consultation.
As with many professional services our fees reflect
the expertise and effort required to fulfil legal and associated responsibilities,
the personalised nature of our service, and the benefits of peace
of mind and security.
For Estate Planning (including preparation of a Will)
the fee is $88.00 for an individual or $132.00 per couple. This includes
the preparation of an Enduring Power of Attorney where required.
If you would like to know more about our estate planning
services, or to make an appointment with one of Tasmanian Perpetual
Trustees' estate planners, please contact any Tasmanian Perpetual
Trustees branch.
Contact
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