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Estate Planning - Powered by Bequest
At Bequest, we address any initial concerns our clients may have about estate planning and will writing. We take our clients through the general concerns most people have when drafting a Will and then tailor the Will to suit our clients’ specific circumstances. Read more about the Will here. We also understand that some people may require a Will over and beyond the usual requirements – for example, you may be involved in unique personal circumstances, want to set up trust structures or have more complicated instructions to leave behind for your executors to fulfill. We are confident that we have the expertise required to meet your requirements and we will take the time to understand exactly what you need and draft a Will according to your exact intentions.
Lasting Power of Attorney
Preparing and executing a Lasting Power of Attorney ensures that in the event that you are declared to be medically unfit to take care of your own affairs, your chosen person is appointed to step in and take charge of your matters. The court process with a Lasting Power of Attorney executed is much faster compared to applying for a court-granted Lasting Power of Attorney. We advise clients on the process and explain the choices they can make in a Lasting Power of Attorney and provide the certificate issuer for the execution of the Lasting Power of Attorney.
Estate planning is an advisory process that allows Bequest to understand your familial, legal and financial situation. This better equips us to advise when it comes to matters relating to your Will and LPA. There are several reasons why it is important that information pertaining to your assets and ownership interests, as well as intentions and family circumstances, are disclosed during this process. Firstly, it allows us to provide accurate advice when it comes to your will and LPA. Certain assets may be able to be bequeathed via a Will - however there may be other laws or regulations that contradict or supercede a Will that only a deeper understanding will reveal. Secondly, many a time we encounter clients who wish to provide financial support to specific dependents when they are no longer around. Sometimes, the instructions relating to the management of this inheritance are very particular. Usually, there are very specific reasons why this dependent requires such detailed instructions relating to their financial support. It may indicate certain vulnerabilities that the dependent possesses beyond the norm. In such a case, it is good for us to know so that we can better advise when it comes to devising protections for that beneficiary.
People with interests in businesses and/or companies often may not have planned for how the business will be affected if one of the core members of the business passes away. We are equipped with the necessary knowledge and skills to assist business owners in their business succession planning and prepare the necessary documentation to ensure that their plans for their businesses are carried out.
Grant of Probate
A Grant of Probate is a court document that authorises the Executor to commence administration of an estate. This would mean that the there was a valid will made. Although a Will nominates the Executor and directs the manner in which the estate shall be handled, there is still a court process to undergo. Assuming that the court process goes smoothly and the Executor accepts the nomination, then the Grant of Probate is issued to the Executor. This authorises the Executor to begin the administration of the estate in accordance with the instructions contained within the Will.
Letters of Administration
Letters of Administration are required where no valid will was made and the estate needs to commence administration. In such a situation, family members of the deceased will need to apply to Court for permission to proceed. The Court will appoint a representation for the estate, known as the Administrator, from amongst the deceased's own circle. The Court will then issue Letters of Administration to the Administrator, empowering the Administrator with the necessary authority to handle the affairs of the estate.