Home » Legal Insights » How to avoid common pitfalls in estate planning in QLD
Proper estate planning ensures that your assets are distributed according to your wishes after you pass away. However, many individuals make mistakes that could complicate matters for their beneficiaries. At WGC Lawyers in Cairns, we help clients navigate these challenges to secure their estate. This guide highlights common pitfalls in estate planning in Queensland and how you can avoid them.
Failing to Update Your Will
One of the most common estate planning mistakes is failing to update your will regularly. Life events such as marriage, divorce or the birth of children can impact how your estate is distributed. By consulting an estate planning lawyer in Cairns, you can ensure that your will reflects your current circumstances and intentions.
Not Considering All Assets
Some people overlook assets such as superannuation, joint properties or life insurance when planning their estate. These assets may not automatically be covered by your will and might require separate planning. An experienced lawyer familiar with Cairns law can help ensure all your assets are accounted for in your estate plan.
Choosing the Wrong Executor
The executor of your will plays a critical role in managing your estate. Choosing an individual who lacks the necessary knowledge of Cairns law or time to fulfil these duties can lead to delays or disputes. It is important to select a trustworthy and capable person or consider appointing a professional, like a lawyer in Cairns, to handle these responsibilities.
Need Help with Estate Planning in Cairns?
Avoiding these common pitfalls is key to effective estate planning in Cairns. WGC Lawyers in Cairns can assist you in creating a comprehensive estate plan that protects your interests. Contact us online or call 07 4046 1111 to consult with our experienced estate planning lawyers in Cairns today.