Wills & Estate Planning

Estate Planning

Integral Financial Planning is located on the Gold Coast and also services  Brisbane based clients. We provide specialist Estate Planning advice in relation to your Will in conjunction with specialist lawyers and solicitors located on the Gold Coast and in Brisbane . We can offer you peace of mind by having your affairs in order, in the event of the worst happening. It is important that your estate is passed to your nominated beneficiaries via the most financially effective and tax sensitive pathway. This may be in the form of a Simple Will solution or for a more complex high value estate via a Testamentary Trust, this may depend on your personal and beneficiary needs. Regardless these strategies are developed and tailored specifically for you.

We ensure that other important matters are addressed such as establishing an Enduring Power of Attorney in the event you lose capacity to manage your personal, financial and health matters. We address the confronting but highly important and sensitive matter of Guardianship for your children. We approach these matters with compassion, confidentiality and utmost sensitivity making this process as easy as possible for you and explaining it in terms that is understandable is a priority for us.

To ensure you get appropriate legal advice we partner with specialist lawyers and the process has been streamlined so the legal advice is delivered from the offices where we are located. This way it is highly efficient and cost effective, saving you time and money.

Why not contact us for a complimentary appointment on 075559 2250 or make an enquiry here.

You should seek personal advice prior to implementing any strategies as there are many rules and limitations that need to be considered, please refer to our general advice warning, terms and conditions.


Estate Planning Glossary:

Estate: • An Estate refers to the whole of one’s possessions; this includes all assets and liabilities left by an individual at the time of death.

Executor:
• An executor refers to an individual named to carry out the provisions of a will. The executor must see that all instructions detailed in the will are completed.

Enduring Powers of Attorney:
• Enduring power of Attorney is a legal authorisation to represent or act on another’s behalf. This includes matters in relation to private affairs, Medical decisions, legal matters and business dealings. The Principle individual must appoint and approve the power of attorney and trust this individual to act unbiased and make appropriate decisions, in the event the principle individual is unable to.

Guardian:
• An Enduring Guardianship grants a person (‘the guardian’) the power to deal with another person’s personal care, lifestyle and medical decisions in the event of an accident, ill health or disability.

Simple Will:
• A simple will involves the distribution of personal property and possessions in a uncomplicated estate. Essentially a simple will does not involve trusts, special bequests, taxation requirements or real estate matters.

Testamentary trust:
• A testamentary trust is essentially a discretionary family trust established within a Legal will. A testamentary trust ensures that the estate or trust can be controlled by the beneficiary, however does not form part of the beneficiary’s personal estate. This feature means that a beneficiary’s inheritance through a testamentary trust can be highly protected from the situations the beneficiary may find themselves in, such as: Divorce, bankruptcy and taxation matters.

Trustee:
A trustee is an individual or entity that is given control over administration of property within a trust agreement. The trustee has a legal requirement to reserve the assets of the trust on behalf of the beneficiary. The Trustee the has an obligation to ensure the expressed terms of the trust are carried out, to the best of their ability defend the trust, remain unbiased and impartial to the beneficiaries, not profit from the trust.

Appointor:
• The Appointor is the person who has the power to hire and fire the Trustee of a trust, they can often be the primary beneficiary of the trust unless deemed ineligible because of incapacity, bankruptcy, relationship breakdown or for asset protection purposes it can be an independent person.

Inteste:
• An Inteste is an individual who has made no legal will and therefore has no outline of the desired distribution of their personal and business possessions.

 

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