Writing a will is an essential part of allowing for the smooth transition of your assets to the parties of your choosing. With many years of experience providing clients with compassionate and empathetic estate planning services, the team at WGC Lawyers in Cairns can help you through this process. In this article, we discuss what a will is and detail all the important aspects to consider when providing for your future generations. Contact us today.
Estate Planning in Cairns
A well-thought-out will is an essential part of estate planning, and we can help you throughout the drafting stage. This legal document outlines the division of your assets, and there are many important factors to consider when writing it.
Management of Your Affairs
Clearly explain who has the power to take charge of your care if you can no longer decide for yourself. This includes determining the extent of your attorney’s power to make decisions on your behalf.
Division of Your Belongings
Knowing how you want to divide your assets is one of the most important parts of estate planning in Cairns. This helps you understand the consequences of your decisions and prepares you for a smooth transition of your belongings.
Holding Your Assets
Understanding where your assets are makes it easier to decide how to distribute them to your beneficiaries. You can hold assets in a variety of ways, such as:
- Personally
- Jointly
- In a trust
- In a company
- In your superannuation
- Life insurance
Children
If you have young children, you need to consider who might be a suitable guardian if they’re unable to look after themselves. You may require a separate trustee to manage the assets left for your children until they become adults. This may also include children from another marriage.
Exclusions
If there are individuals you wish to exclude from your will, you need to list the reasons for their exclusion.
Funeral and Organ Donation
Leave clear guidance regarding your funeral and the donation of your organs if you wish to.
If you’re in need of expert guidance on planning your estate, call WGC Lawyers in Cairns on 07 4046 1111 or contact us online today.