Planning for the future is a thoughtful step we all should take. Just as we plan for our holidays or careers, planning for the distribution of our assets and care for loved ones after we’re gone is equally important. That’s where a comprehensive estate plan comes into play. If you’re in Sydney, you’ll find that Benjamin & Robinson Lawyers are your reliable partners in creating a solid estate plan that includes wills and estates.
Understanding the basics about an estate plan
An estate plan encompasses several key components, with wills and estates being fundamental.
What is a will?
A will is a legal document that outlines how you want your assets to be distributed among your beneficiaries. It’s not just for the wealthy – anyone who has belongings, properties or even personal sentimental items can benefit from having a will. In your will, you can name an executor to manage your estate, guardians for your minor children and specify your wishes for organ donation or funeral arrangements.
What is an estate?
Estates encompass all your assets, liabilities and financial matters. Estate planning is not just about what happens after you’re gone; it also includes planning for potential incapacity. This means nominating someone to make medical or financial decisions on your behalf if you’re unable to do so.
Tailoring your estate plan with Benjamin & Robinson Lawyers
At Benjamin & Robinson Lawyers in Sydney, we understand that everyone’s situation is unique. That’s why their experienced team works closely with you to create a personalised estate plan that aligns with your wishes and needs.
Asset inventory
The first step involves taking stock of your assets – properties, investments, savings, personal items and more. This inventory helps determine what will be included in your estate plan.
Beneficiaries and distribution
Who do you want to leave your assets to? Benjamin & Robinson Lawyers can guide you in deciding how to distribute your assets fairly among beneficiaries, whether they’re family members, friends or charitable organisations.
Minimising conflicts
A well-structured estate plan can help prevent disputes among family members over inheritance. With professional guidance, you can set clear instructions that minimise potential conflicts.
Tax considerations
Estate planning also involves understanding the potential tax implications for your beneficiaries. The team at Benjamin & Robinson Lawyers can help you strategise to minimise tax burdens on your loved ones.
Guardianship and healthcare
If you have minor children, naming guardians is crucial. Additionally, outlining your preferences for medical treatment and end-of-life care ensures your wishes are respected even if you’re unable to communicate them.
Updating your plan
Life changes, and so should your estate plan. Major life events like marriage, divorce, birth or the acquisition of new assets might necessitate updates to your plan. Benjamin & Robinson Lawyers offer ongoing support to ensure your estate plan remains current.
Benjamin & Robinson Lawyers – your experienced partners in creating a complete estate plan
Planning for the future with a comprehensive estate plan, including wills and estates, is a vital step in ensuring your loved ones are taken care of according to your wishes. Established for over 30 years,Benjamin & Robinson Lawyers has developed an excellent reputation for providing the highest standards of estate planning for the Sydney community. As well as wills and estates, we offer expertise in commercial leasing, property law and conveyancing, compensation law, family law and traffic law. Would you like more information about our services? Contact us today to schedule a consultation. With offices in South Hurstville and St George, the fees at Benjamin & Robinson Lawyers are affordable and competitive. For enquiries or a quote, contact us today on 02 9547 1733. You can also email us. Connect with our experienced lawyers today.