Wills
Considered estate planning through a professional involves more than just making will, it is your way to ensure that you do not die in chaos. A full estate plan will include a will, consideration of your superannuation nominations, an enduring power of attorney (EPA), enduring power of guardianship and advanced health directive.
Whilst it seems simple enough to write your own will or use a post office will kit (often referred to by Master Sanderson of the Supreme Court as “the curse of the home made will”), people frequently do not understand the legal meaning of common words. Unfortunately, there have been many cases in which wills need to be interpreted by the Courts as beneficiaries argue over the meaning of a particular word or phrase. These relationships frequently never recover.
A small investment now in a professional estate plan can save a lot of hurt for your family and friends.
Estate Planning Fees
We offer discounts for couples.
Full Estate Plan (simple will)
$800 + GST (single)
$1,400 + GST (couples)
This includes:
- Simple will
- Superannuation death benefit nomination
- EPA
- EPG
- AHD
Full Estate Plan (testamentary trust will)
$2000 + GST (single)
$3000 + GST (couples)
This includes:
Will with a testamentary trust
Superannuation death benefit nomination
EPA
AHD
EPG
Wills
Preparing your Will is an important step in managing your affairs which people commonly put off. If something were to happen, then the Administration Act 1903 would arbitrarily split your estate between your spouse, children and possibly other family members, without taking into account your relationship with each of them, each beneficiary’s needs (such as a disabled family member), whether you wanted to give a particular item to a beneficiary or any other factors.
It is not uncommon in these circumstances, for one or more beneficiaries to commence a potentially costly family provision claim where this is inadequate for the beneficiaries maintenance and support in life. A professionally drafted will is drafted to take each beneficiaries circumstances into account to minimise this risk.
Most people will only need a simple will but it is important to consider whether a testamentary trust would be more appropriate, particularly because it gives a person maximum flexibility, particularly for asset protection, to look after particularly vulnerable beneficiaries or to minimise tax implications for beneficiaries arising from receipt of particular assets or the income from income earning assets. A testamentary trust, will allow minor beneficiaries to take advantage of their full tax free threshold and be taxed as adults instead of 47% for each dollar earned above $1,307.00.
EPA & EPG Services Perth
Enduring Power of Attorney:
An EPA authorises the attorney to do anything which the donor could do with regards to property (if in a form accepted by Landgate) and financial matters during the legal incapacity of the donor. An EPA does not cover personal, lifestyle or treatment decisions.
An EPA can be in force while a person has capacity, but physically unable to attend to financial matters or, unlike with a normal power of attorney, when they lose capacity. The benefit of electing to have an EPA with immediate effect is that the attorney does not need to apply to the SAT for a declaration of incapacity to bring the EPA into effect.
We recommend people have an EPA in place as part of their estate planning to enable a continuity of management of financial and property affairs, preventing potential issues in the time between losing capacity and the SAT appointing an attorney.
Enduring Power of Guardianship:
An EPG authorises the guardian to make personal and lifestyle decisions when a person becomes incapable to make decisions, such as:
(a) where you live;
(b) who you live with;
(c) medical treatment decisions; and
(d) education and support services you receive.
You also have the option to restrict the guardian’s decision making authority.
Advanced Health Directive
An AHD enables you to make decisions now about the treatment and care you do or do not want to receive in future in circumstances where you are seriously unwell or injured and unable to make decisions or communicate your wishes. If you do not make an AHD, the person appointed under your EPG will make decisions.
Please note preparing an AHD requires you to think deeply about future situations in which you are unwell and unable to make decisions about your health care. You should consult with a medical practitioner before making any decisions in a AHD.
Perth Wills Lawyer FAQ
It is preferable to have a will but not always necessary. If you die without a will then your assets will be distributed in accordance with section 14 of the Administration Act which can result in unintended consequences. The people who are entitled can also vary depending on the size of the estate
If you die without a will then your assets will be distributed in accordance with section 14 of the Administration Act which can result in unintended consequences
It really depends on your circumstances as to what you need but it can start from $450.00+GST
Yes, you can and people frequently make their own will. Whilst it seems like a simple process, it is very easy to make a simple mistake resulting in unintended consequences and family disputes at the worst possible time. Take our test to see if you should make your own will here