There are a number of key circumstances and life events that warrant making an appointment with Will lawyers in Brisbane to discuss and implement your Wills and estate planning. Unbeknownst to many people, there are certain life events and situations that could make your wills partially or fully inoperative or simply may mean that your assets don’t pass where you want them to on your death. Some of these key life events are:
Life events
New relationships
When you get married, or enter into a de facto relationship there are a variety of things to consider when it comes to estate planning, including whether to provide for your new spouse and their potential ability to bring a claim against your estate.. Marriage also generally revokes a Will and this may not be what you intend. An estate planning lawyer can provide you with comprehensive advice around the impact that your relationship could have on your estate plan.
Ending a relationship
Similarly, just as starting a relationship could impact your estate planning, so could ending a relationship. At this time, you might want to ensure that your documents are up to date and reflect your current life circumstances, to avoid as far as possible, someone benefiting from your estate that you didn’t intend.
Children
Having children is a key time to engage a Will lawyer in Brisbane, as this is a really important time to ensure that your estate passes as you wish, and that your children are looked after. An estate planning lawyer can help you ensure that your wishes for your children are fulfilled, and that their wellbeing and financial interests are protected when you are no longer here to do so.
Grandchildren
If you now have grandchildren and are wanting to provide for them from your estate, this is an important time to seek the advice of an estate planning lawyer, to account for them in your Wills.
Changes in assets
Buying and selling property, investments, and owning foreign assets are just some things that could impact your estate planning. It’s important to seek the advice of a Will lawyer in Brisbane to discuss your specific circumstances. In some cases, the assets you hold may not actually follow your Will, and providing you with personalised advice on the succession of your specific assets is something one of our lawyers can assist you with.
Starting a business
If you have recently started a business, it’s important to ensure that your hard work passes to who you want it to on your death or incapacity. Estate First Lawyers, can help ensure that your business or entities are incorporated into your estate plan and end up in the hands of those you intend.
Receiving inheritance
If your financial position has recently changed due to receiving an inheritance from a loved one, this may be an important time for your to look at your estate planning and ensure that the legacy you have received also goes where you want it to if you were to pass away.
Illness (before capacity issues/death)
If you are suffering from health issues, it is important to get matters underway as soon as you can. If you were to lose capacity, or pass away prior to preparing or finalising your Will and estate planning documents, this may mean that the documents are ineffective and your wishes not fulfilled.
Complexities in the family
In addition to these key life events, if there are more complex circumstances in your family dynamic, this is a really important reason to seek the advice of Will lawyers in Brisbane. Common situations where seeking qualified and personalised advice include:
Blended families
If you are part of a blended family and need to balance the needs of a spouse, children, step children, among others, this can be a very delicate situation which requires specialised legal advice to come up with a solution that you are comfortable with.
Estranged relatives
Some families have estrangements, and this may affect how you wish your assets to pass on your death. A Will lawyer in Brisbane can help you by providing you with comprehensive advice and strategies as well as weighing up the rights of the estranged relative.
Second marriages
Second marriages can sometimes make your Will and estate planning more complex as there are a number of additional considerations such as the rights of your spouse, children and step children along with your personal obligations. Estate First Lawyers can help you establish an estate plan that balances the needs of the different members of your family.
Unequal benefiting of children
There are a variety of reasons you may want to benefit your children in different proportions in your Will, it is important however to ensure you have considered any rights that those children may have.
Protection of your family
Having young children is of course an important time to ensure that they are looked after on your death. However, you may have grown-up children, and this is still a very important time to see a lawyer and discuss your options in relation to protecting your hard earned legacy for them.
At difficult times
If you have recently lost a loved one, you may have been left with the aftermath of administering their estate whether they had prepared a Will prior to their death or not. Seeing a lawyer at this time, could help ease the burden on you, and make the process as streamlined and simple as possible for you.
A Will and estate plan are very important documents to have in place and as you can see, there are some circumstances that make seeking the advice of Will lawyers in Brisbane extremely important in ensuring your wishes are carried out on your death and your legacy is protected.
