Specialised Wills

A Will is a legal document that outlines what you would like to happen to your

assets and possessions when you pass away.

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Why do you need a Will (now)?

 You need to get around to it.  Sooner rather than later.  Wills are not just for the Michael Jacksons of the world. Regardless of the number of assets and personal belongings you have, a Will ensures that these items will be passed on to the beneficiaries that you nominate.  Aside from assets such as property and money in the bank, a Will can also look after the interests of your minor children and will outline who will be their legal guardian should you pass away before they are of legal age.

As experts in Wills and Estates, we cannot stress enough how important it is that you see a lawyer to prepare your Will.  If you pass away without a valid Will, your estate will be dealt with pursuant to the intestate succession laws, meaning that ultimately, your assets and other personal belongings may not be distributed exactly how you intended.  Various complications can also arise from not having a Will in place and can cause unnecessary financial consequences, stress and confusion for your family members during what is already a difficult time.

 The minimum requirements for a valid will are that it be:

  1. in writing; and
  2. be signed by you in front of 2 witnesses. These witnesses should not be beneficiaries of your will, and they must also be over 18 nor visually impaired.

The effectiveness of the will depends on the quality of its preparation. It must be clear and concise and conform to numerous legal drafting rules.

Only persons 18 years and over – who are of sound mind – can make a legal will.

In Plain English.  Get yourself a WILL. TODAY.

At CMB Lawyers, we have a team of lawyers who can assist you with your Estate Planning.  Expert Estate Planning Solicitors who consider EVERY possible scenario from EVERY conceivable angle to ensure that your wishes are succinct and crystal clear.

We offer packages to suit all our clients’ needs.

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A Standard CMBeautiful Will          A Sophisticated CMBeautiful Will           A Superior CMBeautiful Will

Consider your responses to these questions as you contemplate the contents of your will:

Testamentary Trusts

When in doubt, use a testamentary trust! 

No longer for the super rich, a testamentary trust is simply a trust set up in a will that starts only when the will maker dies. 

What are the benefits of using a Testamentary Trust?

A testamentary trust can be a helpful way to protect your dependants as well as potentially help them achieve certain tax outcomes in regard to income earned from any inheritance you leave them.

An example: minors could receive approximately $22,000 tax free income each year from investing the inheritance. That’s fantastic tax flexibility! In fact, this is the only environment where you can get such great tax treatment, and it’s only because someone had to die for the trust to start. Testamentary Trusts are not administratively onerous either – and we’re happy to guide you through the stages.

Who should use a Testamentary Trust in their will? 

If you answer YES to any of these questions, a Testamentary Trust is a must:

Are you leaving at least $500,000 (including superannuation and life insurance) to one or more people?

Is it important to you that the inheritance is protected from relationship risks (e.g. divorce or separation?

Do you want to protect the inheritance from bankruptcy risks?

Are you leaving assets to a beneficiary who cannot be trusted to manage their inheritance appropriately?

Testamentary trusts are created by a will to provide a greater level of control over the distribution of assets to beneficiaries. There are also tax advantages available through testamentary trusts, making them an effective estate planning tool.

We’d love to have these very important discussions with you. 

Get in touch – you’ll be so glad you did.

Contact Us