Estate Planning & Wills
Estate planning is the process of predicting and arranging, during a person’s life, for the management and disposal of that person’s estate with an aim to minimize tax. Preparing a will gives a clear guide of how you want your assets distributed. Preparing your Will and other estate planning documents poorly can have expensive consequences for your family and loved ones.
How we can help
All Wills are not the same. We will ask lots of questions and check information you have given us so that you can be sure your anticipated beneficiaries receive your estate. Simple small nasty mistakes such as not holding your family home in the correct tenancy or leaving your Super to an adult child have huge tax implications on your estate. Contact our team for a copy of our Estate Planning Guide.
Estate Distribution
Probate is the process of proving and registering in the Supreme Court the last Will of a deceased person. When a person dies, somebody has to deal with their estate. It is usually the executor of their Will who administers the estate and handles the disposal of their assets and debts. If a family member passes without a Will then you can apply to the Supreme Court for Letters of Administration this enables you to administer and distribute the estate similar to an executor and the estate is distributed in accordance with a strict legislative list.
How We Can Help
This is a highly emotional and sensitive time. Fidelis assist you or the executor by preparing all the forms and gathering all the information to obtain a grant of probate which is the first step in the legal process of administering the estate of a deceased person. The next process is resolving all claims and distributing the deceased person’s property under a will or in accordance with the law. We at Fidelis handle this entire process for you and your family. Should there be a dispute our aim is to negotiate and attempt to settle that dispute at the earliest possible point in time as all litigation is expensive, time consuming, stressful and something to be avoided if possible.
Our service Include:
Probate applications
Distribution of estates
Challenges to Wills
Family Trusts
A family trust is a trust created to benefit persons who are related to one another by blood, friendship, or law. It can be established by a family member for the benefit of the members of the family group.
Family trusts act as an instrument to pass on the assets to future generations.
They were originally used by wealthy families to minimise tax. They are now becoming very popular due to the many blended families that exist, to protect family assets from passing to non related person or to cater for drug effected or disabled members of the family that cannot manage money, so that the funds are utilised in the best possible manner.
How We Can Help
We can assist you to set up a Family trust within days of receiving your instructions.
8 Top reasons to have a Family Trust
Avoiding probate for all property held in the trust
Planning for financially disabled family members
Limiting children’s access to their inheritance.
Making lifetime gifts to children.
Protecting beneficiaries from themselves.
Limiting partners (or your partners new partner) from spending your children’s inheritance
Protection from bankruptcy or insolvency
Tax minimalisation
SMSF Trusts
A self managed super fund (SMSF) is a superannuation trust structure that provides benefits to its members upon retirement. The main difference between SMSFs and other super funds is that SMSF members are also the trustees of the fund.
How We Can Help
Choose your trustees.
Appoint your trustees.
Set up a corporate structure for your SMSF.
Create the trust and trust deed.
Check your fund is an Australian super fund.
Assist you to register your fund and get an ABN.
Assist you to set up a bank accounts.
Set up Bare Trusts if you are borrowing funds to purchase an asset within your SMSF