What is “testamentary capacity”? The legal test for assessing testamentary capacity was outlined almost 150 years ago in a case called Banks v Goodfellow (1870) LR QB 549. The test has four (4) aspects to it, namely: 1. That the willmaker understands the nature of the act of making a Will and its effects, 2. […]
Advanced Estate Planning
It’s not just about having a Will.
Find out what’s relevant for you and get protection for your personal and business assets for you and your loved ones.
We offer peace of mind knowing that as far as legally possible, your wealth is protected for you and your family.
What is Advanced Estate Planning?
Advanced Estate Planning involves planning to:
- Preserve your wealth during your lifetime,
- Generate wealth in a flexible and tax friendly environment, and
- Meet your loved ones’ financial needs in the event of your untimely death, injury or illness.
Asset Protection Strategies and Tax Planning are, therefore, vital to a successful Estate Plan.
Simple Legal Solutions
Too often there are simple solutions to complex Estate Planning issues that go unaddressed.
Speak to one of our Estate Planning Lawyers or download our Advanced Estate Planning Guide to find out about the simple legal solutions available for the following Estate Planning considerations:
- Asset Protection,
- Discretionary Trusts,
- Future Inheritances,
- Business Risk,
- Business Succession Planning,
- Wills creating Testamentary Trusts,
- Superannuation and Self Managed Super Funds,
- Family Law Property Orders, and
- Contested Wills Claims.
Advanced Estate Planning Guide
The purpose of this Guide is to provide a brief overview of the considerations and solutions relevant to our Advanced Estate Planning service.
Download “Advanced Estate Planning: Simple Legal Solutions” now.
Asset Protection strategies and Tax Planning are vital to any successful Estate Plan.
We offer peace of mind knowing that as far as legally possible your wealth is protected for you and your family.
How We Help
We believe that a comprehensive and modern approach to Estate Planning is fundamental to ensuring financial well-being despite life’s inevitable contingencies.
We offer a complete Asset Protection and Wealth Management service tailored to meet the personalised goals of our clients and focused on implementing strategies and solutions for the long term.
Call us to discuss what simple legal solutions are relevant for your circumstances.
- “Helping your children – loan or gift“
- “Balancing competing interests of your children and a second spouse in the family home”
- “Generation planning – protect your inheritance”
Benefits of Asset Protection Trusts
Asset Protection Trusts created in a Will provide asset protection for Beneficiaries and are particularly important as it is virtually impossible to know exactly what a Beneficiary’s circumstances will be at the date of death of a Will maker or thereafter.
When to Review your Estate Planning
It is important that you keep your Estate Planning up-to-date as your circumstances change and that you are confident that nothing has been overlooked.
You should speak to one of our Estate Planning Lawyers about reviewing your Estate Planning if:
- You or any of your intended beneficiaries are an ‘at risk’ person.
- You are about to acquire an additional asset or investment.
- You are planning to start a new business or other enterprise.
- You are a co-owner of an existing business, property or investment.
- You are an owner of a business that you would not be prepared to walk away from.
- You carry on a business as a sole trader or in partnership personally.
- You wish to establish or wind up a Family Discretionary Trust.
- You have made loans to, or are owed money from, a related entity or family member.
- You are about to get married or start a de-facto relationship.
- You have separated from your spouse or de-factor partner.
- You have children to a previous relationship.
- You want to ensure that your future beneficiaries are able to maximise the benefit of their inheritances and minimise tax.
- Your circumstances have otherwise changed since you last reviewed your Estate Planning.
Make an Appointment
Call 1300 553 343 to speak to one of our Estate Planning Lawyers or complete the form below.
Difficulties often arise in cases where a person with children from a first relationship subsequently enters into a new relationship or re-marries. Competing arguments will often emerge as to the testamentary entitlements of the person’s children from the first relationship on the one hand, and the new spouse on the other hand, when the person […]
Recently SBS Insight addressed the topic of “Making a Will”. The programme explored how the family provision laws under the Succession Act 2006 (NSW) enables a Court to effectively rewrite a person’s Will where it is found that an inadequate provision has been made for an eligible person. Two (2) of the guests that were […]
It is important that you keep your Estate Planning up-to-date as your circumstances change and that you are confident that nothing has been overlooked. To help you better undertand the issues relevant to Advanced Estate Planning, in 2016 we released “Advanced Estate Planning – Simple Legal Solutions“. This Guide deals with the following common Estate Planning […]
Andrew has recently started his own business. Andrew has incorporated a company of which he is the sole director and entered into a number of contracts with suppliers. As the director Andrew has also signed a number of personal guarantees. Andrew’s father Mark wants to help Andrew out with his new business venture and has […]
John and Jane are in their 60s and have been in a de facto relationship for 10 years. They have both been married previously and each have adult children from a previous relationship. John entered the relationship with significantly more assets than Jane, including the home they now live in. John wants to ensure that […]
Sue is married with two (2) adult children and a grandchild on the way. Sue operates a small business as a sole trader. Sue is an only child and expects that she will soon receive a substantial inheritance from her elderly mother. Sue seeks legal advice as to what she should do to ensure her […]
With the aging population and the number of blended families and second spouses on the rise it is increasingly important that your Estate Plan effectively addresses the competing interests of your children and a second spouse. Life Interests or Rights of Residence created in a Will are common parts of many Estate Plans when there […]
An important preliminary step in buying a property is deciding how you want to own the property. Why Now? If you neglect to consider the structure of your ownership of a property at an early stage you may find that it is too late to change later and encounter delays and/or additional costs. For example, […]
What is a Contested Wills Claim? A Contested Wills Claim (more commonly know as a family provision claim) is a claim made by an “eligible person” against your Estate Assets after your death. The Succession Act 2006 empowers the Courts to make Orders in effect remaking a person’s Will where the “eligible person” has been […]
Is Asset Protection Relevant for Me? We all work hard to accumulate wealth to fund our lifestyle and retirement and tp provide a head start for our loved ones but most people do not take adequate steps to protect their wealth from unforeseen events or third party claims,. People who carry on a business, have […]
Congratulations on taking the first step to protect your interest in your co-owned business. Business Succession Planning is essential for protecting your interest in a co-owned business and is an integral part of every business co-owner’s individual Estate Planning. “Business Succession Planning” means: Planning for the sale or purchase of a co-owners’ interest in a […]
Introduction to Business Succession Planning What is a Buy/Sell Option Agreement? A Buy/Sell Option Agreement is an agreement between co-owners of a business granting each other options to buy or sell their respective interests upon the occurrence of specified Option Events. The Option Events are typically: the Death of a co-owner; the Permanent Disablement of […]
Introduction to Business Succession Planning What is a Buy/Sell Option Agreement? Why do I need a Buy/Sell Option Agreement? In the absence of a Buy/Sell Option Agreement disputes between co-owners or their executors/beneficiaries following the occurrence of an Option Event are common. These disputes typically relate to: Who may purchase the co-owner’s interest; Whether the […]
Introduction to Business Succession Planning What is a Buy/Sell Option Agreement? Why do I need a Buy/Sell Option Agreement? What is a Shareholders’ Agreement? Why do I need a Shareholders’ Agreement (Partnership Agreement)? Funding the Purchase Price under a Business Succession Plan CGT & Insurance Proceeds Self Ownership of Personal Insurance Implications for Self Ownership […]
The simple answer is that when you die your worries will be over. Wills creating Asset Protection Trusts (also known as Testamentary Trusts) only benefit a person’s intended beneficiaries. However, if it is your intention to leave your assets to your intended beneficiaries in the most advantageous manner for them upon your debt then you […]
What is an Asset Protection Trust? (also known as a Testamentary Trust) An Asset Protection Trust is simply a Trust created by a valid Will and funded by Estate Assets. The Trust commences when the Executor finishes administering the Estate. There a many different types of Testamentary Trusts that can be established in a Will. Most Asset […]
What is Personal Insurance Planning? What would happen to you and your loved ones if for any reason you were unable to continue to earn an income? How long could you and your family maintain your current lifestyle or afford to make repayments on your house or investment loans? Your ability to earn an income […]
What is Advanced Estate Planning? Advanced Estate Planning is not just about making a Will, Power of Attorney and Appointment of Enduring Guardian. Advanced Estate Planning is planning for the preservation of your wealth during your lifetime as well as planning for the succession of that wealth to your intended beneficiaries in the most advantageous […]
Sophie’s parents’ Wills were apparently straightforward. Under terms of the Wills, everything her parents owned was left to the surviving parent and then, in the event that both her parents had died, the Wills divided their assets equally between Sophie and her brother. When Sophie was (not so happily) married to David, David’s business needed […]
What good is a Will if you lose all your assets during your lifetime? Advanced Estate Planning includes planning for the preservation of your wealth during your lifetime as well as planning for the succession of that wealth to intended beneficiaries in the most advantageous manner upon death. It requires a careful assessment of you […]
You went the extra mile to ensure that our Estate Planning also covered all those “what if” scenarios that so could easily have been overlooked.
“When my wife and I were starting to prepare our Wills you went the extra mile to ensure that our Estate Planning also covered all those “what if” scenarios that so could easily have been overlooked that could have caused either us or our children unknown stress at what is likely to be an extremely stressful time when it is required. The peace of mind this attention to detail has given us can not be measured in dollars.”
Luke Stevens, Amber Tiles
It is surprising to find a law firm that provides such clear and concise guides.
“It is surprising to find a law firm that provides such clear and concise guides to business succession planning and shareholders’ agreements. Having been through the exercise with a number of our accounting practice clients, it is good to have a tool that can be used to assist our clients in forming a clear picture of how they want their business to continue following an unexpected event and how they expect the various shareholders to interact with each other. The Business Succession Planning Guide and Term Sheets enable us provide a clear set of instructions to the team at Roberts Legal.”
Richard McArtney, Bentley Accountants Newcastle Pty Limited
Every co-owned business needs a succession plan and this is an easy and inexpensive way to begin to build one.”
“The business succession planning guide and term sheets (questionnaire) provided by Roberts Legal are useful resources for anyone in a co-owned business. It breaks down the issues in everyday language and allows the business owners to identify and resolve all of the important issues proactively before they become a problem. The simple questionnaire helps business owners to have the awkward conversations with their business partners in an objective way that creates certainty for all the owners. As a Chartered Accountant I often come across situations where a disagreement between co-owners leads to the demise of the business and it’s good to know I can refer my clients to the business succession planning guides provided by Roberts Legal to establish the rules of the game from the start to keep everyone moving in the same direction. Every co-owned business needs a succession plan and this is an easy and inexpensive way to begin to build one.”
Trevor Monaghan, Climax Business Strategies Chartered Accountants
I would not hesitate to recommend the Estate Planning service to anyone considering how best to plan the succession of their assets.
“Sam and the team at Roberts Legal provide an efficient service and practical advice. Specifically I would not hesitate to recommend the Estate Planning service to anyone considering how best to plan the succession of their assets.”
Christine Lusher, Lusher Financial Services
Your services have been prompt, efficient, professional and considerate of our needs.
“Thanks Sam and the team for excellent service in recent months – estate matters, property transfers and resolution of debt disputes. Your services have been prompt, efficient, professional and considerate of our needs. But most of all, thanks for getting the results we sought.”
Steve and Julianna