Terry Waugh has a Masters in Wills and Estates from the College of Law.
He provides the following services:
– Legal Advice regarding Estate Planning (including asset protection strategies)
– Preparation of Wills
– Preparation of Testamentary Trust
– General and Enduring Power of Attorney (POA)
– Advance health directive (AHD)
- Why are Wills important?
Wills are important as it will allow you to distribute your property according to your wishes. If you do not have a will then a formula will be used to distribute your estate. Also it provides additional flexibility as the Public Trustee does not administer the estate.
- Why should a solicitor draft a Will?
If you die without a valid will then you may die partly intestate and partly testate, this is where part of the Will is valid and another part is invalid. This may create inconvenience and delay, and it could incur unnecessary expense. Reasons why the will might be invalid:
~ Will has not been signed and witnessed correctly
~ Fails to dispose of all assets
~ Mental capacity
~ Poorly drafted and rules of construction have not been followed
- What is Estate Planning and is it important?
Estate Planning is where you decide what happens to your Assets and Liabilities with a focus on the following issues –
> Business succession
> Tax planning
> Asset protection
> Trust succession
> Beneficiaries who are under a disability
Estate planning allows you to utilize different strategies to maximize tax efficiency and asset protection.
- Is a Will still useful even if it can be challenged?
A will is the only formal way you can tell the Court what your wishes are. A court must consider your will and any comments you have made in it during any legal challenge.