Wills & Estates
With over 29 years of experience, Perspective Law is a trusted, leading law firm specialising in wills and estates. Our team is recognised for our legal expertise and collaborative approach with clients and fellow professionals to secure the best outcomes for you and your family. Our team is pleased to accept instructions from both interstate and overseas clients for all estate planning and related matters.
Our wills and estates lawyers in Brisbane provide comprehensive estate planning services, from will drafting to managing complex probate cases. We work closely with clients to ensure their wishes are honored, and their legacy protected.
We can assist with:
- Wills
- Enduring Powers of Attorney and Advance Health Directives
- Testamentary Discretionary Trusts
- Special Disability Trusts
- QCAT Guardianship Applications
- Probate and Estate Administration
- Business Succession Planning
- Self-Managed Superannuation Funds
We strategically plan the succession of your estate by considering your business assets, family relationships, any trusts and self-managed superannuation funds, and tax implications. Our focus is on fostering a close working relationship with you, your accountant, and financial advisor to seamlessly integrate your financial goals into your estate plan. This approach ensures maximum benefits and tax advantages for your estate.
Estate Planning
Estate planning involves much more than making a Will – it’s about safeguarding your assets and making sure they’re allocated to the right beneficiaries at the right time.
An estate plan should be tailored to your unique circumstances by considering your assets, family relationships, business interests, trusts, superannuation funds, and future tax implications. We work closely with you and alongside your accountant or financial advisor to ensure your financial objectives are incorporated into a comprehensive plan that maximum benefits and tax efficiencies.
When making your estate plan, it is also important to prepare for unforeseen circumstances, such as potential incapacity. A power of attorney allows you to appoint a trusted individual to manage certain matters or make certain decisions on your behalf if you’re unable to do so yourself. This authority can be enduring, which means it will continue to be valid even if you lose capacity. Alternatively, it can be limited to a specific period or event, such as during international travel, providing assurance that your affairs are managed in your absence.
Business Succession
A business succession plan serves as a strategic roadmap for smoothly transferring leadership and ownership of a business when the current owner steps down, whether voluntarily or due to unexpected circumstances. It provides much-needed direction when a business owner wishes to retire, or if an unforeseen event such as a catastrophic injury or unexpected death occurs. Typically, the plan aims to provide clarity and minimise disruption to the business during transitions.
While each business is unique, it is generally instructive to consider the objectives and goals of all parties involved. For a business owner, this means identifying individuals who are both interested in and capable of taking over the business.
A well-crafted succession plan should detail the strategies and timelines for the owner’s exit from the company. Additionally, it should clearly delineate the educational and mentorship requirements essential for ensuring a seamless transition to the successor.
It is also important to consider the financial implications of succession planning, including retirement income and expenses related to transferring business ownership. Thoughtful planning can mitigate liabilities such as capital gains tax, stamp duty and income tax obligations for the business owner, their family and business partners.
Ask us how we can guide you through the complexities of business succession planning and ensure the legal, financial and logistical considerations are addressed and coordinated for your peace of mind and future security.
Estate Disputes & Litigation
Estate disputes commonly fall into two primary categories – challenges questioning the validity of a Will and disputes over the distribution of an estate.
Other issues can arise, such as disagreements over the appointment and removal of executors, or the interpretation of ambiguous terms within a Will.
Challenges to the validity of a Will usually involve claims that it wasn’t properly signed or witnessed, the testator lacked mental capacity, was unduly influenced, or signed under duress or fraudulent circumstances.
A Will contest, also referred to as a family provision claim, occurs when an eligible individual seeks additional provisions from a deceased estate, arguing that the deceased failed to adequately provide for their needs.
In Queensland, only certain family members and dependants or people who were in a close personal relationship with the deceased are eligible to make a family provision claim. Strict time limits apply so it is important to seek legal advice as soon as possible.
Managing Estate Disputes
Estate disputes can stir up strong emotions and lead to lasting conflicts within families regardless of the side one may take.
While any type of estate dispute could end up in the Supreme Court, it is generally advised to avoid reaching that stage. Court proceedings are not only time-consuming, but also stressful and costly, often exacerbating an already tense situation and diminishing the estate’s value.
There are more amicable solutions available. We can help you explore alternative paths to find common ground and reach an agreement that allows everyone to move forward.
If you need help, contact our lawyers at [email protected] or call 07 3839 7555.