A Will is only one aspect of estate planning for when you die – as it deals solely with what you own. However, when blended families, such as children of different marriages, or other complexities involved a Will may not be enough, or not necessarily the best way to protect those you love.
This is why at Hume Taylor & Co our lawyers will look at Estate Planning as a whole, including documents such a Power of Attorney or Advance Care Directive, where appropriate.
Other options for estate planning other than your Will include:
- Binding nominations for superannuation (self-managed or with a fund)
- Life insurance for specific beneficiaries
- Discretionary trusts
- Non-discretionary trusts
- Holding certain assets jointly with family members you want to automatically inherit
- Gifts or loans during your lifetime
While lawyers are unable to give financial advice, they can work collaboratively with accountants or financial planners to ensure you get the best advice about your situation. Well drafted documents will ensure you have peace of mind and that your loved ones are protected when you are no longer here.
One of our specialists in Wills and Estate Planning, Scott, would be happy to talk through your situation. Make an appointment to see him, or any of our other experienced lawyers in Adelaide, Millicent or Whyalla, today on 8223 3199.