Wills and estate planning laws differ from state to state. If you are looking to get a legal will created or any estate planning issues done in Queensland then you should absolutely contact Boorman Lawyers Estate Planning Solicitors to see how we can best help you.
Boorman Lawyers Youtube – Benefits of a Legal Will
DUI Video #TimeStamps
00:01 – Welcome to #BoormanLawyers & 5 Benefits of a Legal Will
00.10 – 1. Appoint a legal guardian for your children
00:19 – 2. Safeguard your business – Business Succession
00:25 – 3. Choose who gets what inheritance
00:35 – 4. Bequeath a donation to your favourite charity
00:46 – 5. Make a sad time less difficult for your family
00:54 – Contact BoormanLawyers.com.au or call 1300 941 900
What happens if you don’t have a legal will?
Whilst Estate Planning laws are different throughout Australia, one rule that holds constant is that if you do not have a Last Will and Testament then your estate will be deemed intestate – which effectively means that the government will decide what happens to your estate.
That suggests that everything in your estate would be distributed according to the generic laws of Queensland and will not necessarily have regard to your true wishes as to how you want your estate to be managed and divided up upon your passing.
Generally the government will divide your belongings, assets and monies up between your next of kin, spouse, and children.
The guidelines in Queensland make these choices for you if you don’t make a Will during your life.
So if you want complete control over what happens to your estate after your passing then you should contact us to discuss putting in place a customised and well thought out legal Will. You may be surprised at how many options are available to your estate upon your passing and such options need to be specifically documented in your Will to be effective.
Some of the Top 5 Benefits of having a Legal Will include:
1. Appoint a legal guardian for your kids.
Nobody knows their kids better than their own mother or father so if you were to die without a Last Will and Testament, then the State of Queensland will decide who must take care of your kids. You can select a guardian for your kids in your Will and ensure that they’re cared for by somebody you know and trust.
2. To safeguard your business
Making a Last Will and Testament and even considering setting up a Testamentary Trust is a great way to ensure that your business which you have worked so hard to build can be passed onto the rightful person, family member or co-owner of the business. Business Succession law is an important area which is often overlooked when a person thinks about their estate planning issues. However, it is well known that successful family owned businesses do not survive past the 1st generation due an absence of estate planning.
3. Choose who gets your assets, money & valuables
Whether it’s a family treasure, a favourite car or boat, or your hard earned savings or superannuation. You should be the one that decides upon your passing who gets to inherit your assets, money and valuables rather than the decision being left up to the Queensland government to decide for you. Interstate guidelines may not satisfy your wishes and never include arrangements for those unrelated to you, like friend, associates, mentors or acquaintances. Creating a legal will will give you the peace of mind that upon your passing everything you own will be divided up and inherited in accordance with the living wishes that you have.
4. Bequest to preferred charity
You may have a charity, foundation, cause or other association which is dear to your heart and which you would like to bequeath some assets or money to upon your passing. A well structured legal Will can certainly be utilized for an act of selflessness in this regard.
5.To help make a sad & emotional time less difficult
It goes without say that when a loved one passes it is one of the most devastating periods for friends and family members. In times of such sadness and grief the last thing that family and friends want to have to do is haggle with lawyers and other family and friends over who should get what assets and belongings of the deceased. Having a well prepared legal Will in place will most definitely take a lot of difficulty and pain out of the estate administration process and will often prevent arguments and bitterness between surviving loved ones.
As mentioned above are 5 incredibly important benefits of creating a well throughout legal Will.
No one really enjoys thinking about their own death and a lot of people despise having to go to Lawyers to prepare documents that have no immediate effect or value. But like many legal documents they are created in order to deal with future events and allow for a far smoother process in the event of a persons unfortunate passing.
Boorman Lawyers specialise in all types of estate planning matter including legal Wills, Testamentary Trusts, Enduring Powers of Attorneys, Business Succession, administrative health directives and probate.
Our fees are very reasonable and usually charged on a fixed fee basis. Check out our legal costs schedule.
Feel free in contacting us today to arrange a time to discuss the many estate planning options that are available to you. Call Boorman Lawyers on 1300 941 900.
Speak to our Qld Wills and Estates Lawyers Gold Coast Ph: 1300 941 900
Our Qld Wills & Estates Lawyers can be contacted at:
Boorman Lawyers NSW & QLD Solicitors