Preparing a Will is rarely an easy process. Even a simple Will requires you to make decisions about what will happen to all your worldly belongings.
So when you have significant assets, multiple trusts, or conditional bequests, creating a Will can become a very complex and difficult process.
The best thing you can do in these circumstances is to get expert legal advice. With that in mind, here is an introduction to creating complex Wills.
What makes a Will complex?
There is a number of different factors which can make a Will more complex. Some of these include:
- Having multiple Trusts, such as Testamentary and Disability Trusts.
- Having complicated bequests or bequests which depend on certain things happening.
- Having very specific or difficult requests for what happens after you pass away.
When you spend a lifetime accumulating assets, it’s only natural to want to control how they are distributed after you’re gone.
Having a complex Will allows you to decide exactly how your assets are distributed to your beneficiaries. Not only that, but distributing your assets via Trusts allows you to do so in a way that minimises tax.
If a Will is not left or not created correctly, then your estate will be divided according to the laws of intestacy and you will not be able to control how it is distributed.
How we handle complex Wills
The goal of creating a complex Will is to ensure that your estate is protected and you are able to pass it on to your loved ones with minimal tax costs and as much protection against being contested as possible.
For a lawyer to handle complex Wills effectively and accurately, they must be familiar Wills and estate law as well as highly experienced with drafting the necessary documents.
If there are any mistakes or the Will is not completed correctly, then it’s possible that it will not be valid and your estate will be treated as an intestate estate. That’s why it is essential that you choose a lawyer with a great deal of experience and expertise in the creation of complex Wills.
Trust in our experience
Here at Rose Lawyers, we are experts in handling the Will and estate matters of our clients, no matter how complex.
Our team can create a complex Will which will ensure your wishes are carried out after you are gone, minimise its potential to be contested, and pass on your assets in a tax efficient way.
Choose Rose Lawyers for your complex Will
Here at Rose Lawyers, we have the experience and expertise to handle your complex Will. We will ensure that your assets are protected and distributed in the manner of your choosing.
For help with your complex Will, call the team at Rose Lawyers on 03 9878 5222.
Julie is an admitted Solicitor in the Supreme Court of Victoria. She has a range of experience in Civil Litigation, Commercial Law, Family Law, Taxation...
Ever wondered what an executor of a Will does, what their rights and responsibilities are, if they can be a beneficiary of a Will and if they charge anything? Drawing…Read more
COVID-19 – Links & Resources For Victims Of Domestic Violence The COVID-19 pandemic social isolation measures to ‘flatten the curve’ are reportingly causing an unprecedented and alarming surge in domestic…Read more