Get expert support with making a Will and planning ahead.
Preparing for the future involves a whole lot more than making a Will. At Norton Legal, I open your eyes to the intricacies of estate planning, guiding you through so you don’t miss a thing.
Making a Will doesn’t need to be complicated… but it does need to be accurate.
Protecting your whole life’s worth of accumulated wealth can be complex, so it’s risky to cut corners. At Norton Legal, I help you confidently and accurately make a tax-effective and asset-protective Will so you can be confident that your family (and wishes) are truly honoured as you hope.
You don’t know what you don’t know, and heck, you’re not expected to. If you’re asking questions like ‘What happens to my super after I pass?’ or ‘How do I reduce the tax payable amount on what I leave behind?’… you’re in the right place.
Will and estate planning is ideal for you if:
You need a Will or have one and need it reviewed
You want to ensure your family is protected and your wishes are carried out when you are unable to do so
You haven’t yet nominated who the guardians would be for your children if something were to happen to you
You need help with preparing documents for Enduring Powers of Attorney or an Appointment of Medical Treatment Decision Maker
You need a second pair of eyes to review your trust, superannuation and business documents
You want to know more about tax and asset protection advantages that will save your beneficiaries thousands of dollars each year
You want to protect your inheritance for your children who are in tricky relationships or financial circumstances
You want to leave an inheritance to a child with a disability and need help with setting up a disability trust.
How much does it cost for Wills and Estate Planning?
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Inclusions:
2X Will
2x Enduring Power of Attorney
2x Appointment of Medical Treatment Decision Maker
$1925 Standard Wills*$3080 Testamentary Trust Wills *
(plus disbursements)
Note for blended families a cost estimate will be sent following the initial consultation.
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Inclusions:
1X Will
1x Enduring Power of Attorney
1x Appointment of Medical Treatment Decision Maker
$1155 Standard Wills*
$1540 Testamentary Trust Wills *
(plus disbursements)
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2x Wills
$1540 Standard Wills*$2695 Testamentary Trust Wills *
(plus disbursements)
Note for blended families a cost estimate will be sent following the initial consultation.
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1 x Will
$770 Standard Wills*$1350 Testamentary Trust Wills *
(plus disbursements)
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For many of us the way we organise our affairs includes complexities. You need to know what would happen to your business, family trust or SMSF if you lose capaity or pass away. We can help to make sure a plan is in place so that you have peace of mind that things are taken care of.
Book a strategy meeting wth us today and we wll provide you with cost estimate once the scope of work can be determined.
$385 Strategy Meeting
Estimate of costs only, full cost agreement will be provided after strategy meeting.
A deposit of $385 is required before your strategy meeting. This is included in our cost estimate (i.e. it isn’t an additional fee).
What’s the difference between a Will and an estate plan?
A Will is a legal document that outlines who should inherit your assets and who will oversee the process after your death. It only takes effect upon your death, is subject to probate, and doesn't address incapacity or non-probate assets.
On the other hand, an estate plan is a comprehensive set of legal documents and strategies that includes a Will but goes beyond it. It covers various aspects of your financial and personal affairs, such as minimising taxes, planning for incapacity, and managing assets during your lifetime. Estate plans may also include trusts, powers of attorney, and healthcare directives to provide a more comprehensive and versatile approach to managing your estate and personal well-being.
How you can make a Will or plan your estate with me in 4 easy steps
Step 1
BOOK A FREE 15 MINUTE CHAT
Let’s arrange a quick chat online to find out whether this service is right for you.
Step 2
60-MINUTE Strategy Meeting
In our 1:1 meeting, we’ll discuss your individual situation and go through the ideal instructions for your family and assets, as well as the cost agreement and details on the next steps.
Step 3
DRAFTING
I draft out your estate plan and/or Will. You review the documents.
Step 4
SIGN OFF
Upon approval, receive a final copy of your Will.
Make your Will with full confidence today
Why a DIY Will just doesn’t cut it…
Using a DIY Will or online Will Builder might seem tempting due to the price, but there are several important reasons why they often fall short. One significant drawback is the lack of tailored legal advice. Estate planning is a complex area, and most people aren't legal experts.
Without proper guidance, you may make mistakes that can have serious consequences. For example, superannuation doesn't automatically become part of your estate, meaning you can't freely gift it in your Will. This can lead to unintended beneficiaries or assets ending up with the wrong people.
Also, asset ownership can be confusing, especially if you have a business in a family trust. It's crucial to have someone who understands the ins and outs of these arrangements to ensure your assets go to the right folks. Just think about it… estate planning involves your life's accumulated wealth, so it's not an area where you want to cut corners. Consulting with a legal expert like myself is essential to create a well-crafted and effective estate plan tailored to your specific needs… it would be my pleasure to help you with this significant task.
Download your estate planning checklist
FAQ’s
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A Will is a legal document that outlines your wishes regarding the distribution of your money, possessions, and property, collectively known as your 'estate,' after your death. If you don't have a Will, or if your Will is not legally valid, the law will determine how your estate is passed on, which may not align with your preferences. Having a Will allows you to have control over what happens to your assets and ensures that your wishes are respected.
At Norton Legal, I help with both straightforward and complex estate planning to help you achieve your goals and reduce the risk of family conflicts after your passing. Providing comprehensive estate planning advice that considers family trusts and self-managed super funds, I can also work in collaboration with your accountant or financial planner to secure the best outcomes for your loved ones. This can involve preparing complex Wills, including testamentary trusts, to address various issues such as caring for vulnerable family members, planning for business succession, managing family trust succession, protecting assets, and minimising taxes. A well-drafted Will and estate plan are essential tools in safeguarding your assets and ensuring your legacy is managed in line with your intentions.
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Enduring Powers of Attorney: This document grants someone the authority to make financial and legal decisions for you in case you become unable to do so yourself. For example, if you're incapacitated due to a stroke or car accident, your appointed attorney can manage your financial affairs, pay bills, sell property, and make legal decisions in your stead.
Appointment of Medical Treatment Decision Maker: This legal appointment allows you to designate a person who can make medical decisions on your behalf if you're unable to do so.
Having these documents in place is crucial, especially in unforeseen situations like accidents or health crises. They provide a clear framework for decision-making when you cannot act for yourself. Without these documents, your loved ones would have to go through a potentially lengthy and stressful process of applying to the Victorian Civil and Administrative Tribunal (VCAT) to obtain the necessary legal orders, which can be time-consuming and emotionally challenging. At Norton Legal, I can assist you in preparing these documents, ensuring that your wishes are respected and that your affairs are managed smoothly by your appointed agents in such circumstances.
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A testamentary trust is a legal arrangement that is established through a will, serving as a versatile tool for estate planning. Unlike a traditional will, where assets are typically bequeathed directly to individual family members, a testamentary trust will involves leaving assets to a trust entity, with designated beneficiaries who are usually family members. The decision to set up such a trust is based on various factors, and there are several compelling reasons why it might be the right choice for your estate planning needs:
Beneficiary Age and Responsibility: If you have young beneficiaries or individuals who may not possess the financial maturity to handle a significant inheritance, a testamentary trust can provide a safeguard. Assets placed in the trust can be managed by a trustee until the beneficiaries reach an age or level of responsibility specified in the trust document.
Asset Protection: Testamentary trusts offer a robust shield for assets against potential threats. This protection can be critical when you have beneficiaries who are vulnerable to bankruptcy risks or undergoing marital issues that could lead to asset division. By placing assets within the trust, you can help ensure that they remain within the family.
Tax Planning Opportunities: Testamentary trusts can be valuable for those with substantial estates. They can be used strategically for tax planning purposes, potentially reducing the tax liability of your estate and beneficiaries. This is especially pertinent when there are ample assets involved.
At Norton Legal, we have a team of experienced solicitors who specialise in the drafting and advising on testamentary trust wills. We can guide you through the intricacies of this legal arrangement, ensuring that your estate planning objectives are met effectively.
Asset protection is a vital consideration in the realm of estate planning, and it holds immense importance for individuals like you. The primary goal of asset protection is to safeguard your hard-earned assets, guaranteeing that they ultimately benefit the intended recipients. Here's why asset protection matters:
Family Dynamics: Asset protection is especially significant when family dynamics are complex. If you have family members facing marital challenges or if there's a possibility of someone contesting your will, securing your assets within a trust can minimise external claims and disputes, ensuring that your chosen beneficiaries receive their intended shares.
Profession-Related Risks: If you or your beneficiaries are in professions or occupations with a high risk of being sued, asset protection becomes paramount. Placing assets in a trust can shield them from potential legal claims, helping to preserve your family's financial security.
Creditor and Debt Concerns: In today's litigious world, protecting your assets from creditors and debtors is essential. Asset protection strategies can help insulate your wealth from external financial pressures, allowing you to pass on your legacy intact.
Testamentary trusts and asset protection measures are powerful tools in estate planning, tailored to address various concerns and objectives. By working with our knowledgeable legal team, you can create a comprehensive plan that secures your assets and ensures your legacy is preserved for generations to come. Contact us or call us today on 9314 7320 for more information.