Wills & estate PLANNING
At Madison Marcus, we understand that effective estate planning is essential to securing your legacy and safeguarding your assets for future generations. That’s why we offer a comprehensive suite of estate planning services, tailored to your unique circumstances and needs.
Our experienced team of estate planning experts will guide you through a meticulous process, considering your assets, liabilities, your financial and business structures and the ever-evolving landscape of laws, including taxation and superannuation. Through personalised consultations and tailored advice, we will confidently help you navigate the complexities of estate planning and craft a bespoke estate plan that aligns with your testamentary intentions
Our experienced legal team takes you through a streamlined process that takes your entire situation into account and can help you with:
- Will drafting
- Testamentary trusts
- Personal and business succession planning
- Powers of attorney
- Enduring guardianship
- Advanced care directives / medical treatment decision makers
- Superannuation advice and binding death nominations
- Consideration of other trust structures
- Tax implications
- Estate administration and distribution
- Will disputes / family provision claims
- Dealing with consequences of intestacy.
At Madison Marcus, we tailor an estate plan to your individual circumstances, asset structure and needs. The estate plan model will take shape following consultation and advice provided by our team and will be translated into a number of documents, which will ensure the following:
- You have an ordered and secure, yet simple and flexible, structure for your affairs for the present and future.
- You have scope for building up assets during your lifetime.
- You have a comfortable and secure retirement plan.
- You have a suitable balance between enjoyment of property and income during your lifetime and a preservation or creation of capital for your beneficiaries on death.
- As far as possible, recognise and balance the claims of any current and/or former spouse/s, children from a current relationship, children from a former relationship/s, any persons for whom you had an obligation to provide for and who are vulnerable or handicapped, any other persons who have special claims on you, persons who may have a Family Provision Act claim against you, and charities.
- That you are provided for satisfactorily if you are a member of a blended family.
- Due regard is given to your superannuation and life insurances as tools for building up and preserving your estate and providing for people.
- You have a plan that is tax friendly towards you during your life and towards your family and others after your death.
- You have a plan that is administratively simple to operate and not unreasonably expensive to maintain.
- You have a will that is seen to be an essential part of your overall estate plan and fits comfortably with other parts of your plan and is not drafted in isolation from parts of your overall situation.
Our expert team can also advise and assist clients in the following:
- Draft and create legally binding wills.
- Establish testamentary trusts to manage assets and distribute wealth according to your wishes.
- Ensure that your will and testamentary trusts are valid and enforceable.
- Minimise estate taxes and maximise asset protection.
- Develop comprehensive strategies to ensure the transition of assets and business interests to the next generation.
- Minimise tax implications and maximise asset protection.
- Ensure that your succession plan is tailored to your specific needs.
- Provide peace of mind knowing that your assets and business interests will be handled in the manner you choose.
- Provide guidance on estate planning and wills for individuals with assets or interests in multiple jurisdictions.
- Ensure compliance with international laws and regulations.
- Help you create a will that is valid in all jurisdictions where you have assets.
- Protect your assets from creditors and other risks.
- Assist in the creation and execution of powers of attorney, granting authority to act on behalf of a corporation or an individual.
- Provide guidance on the scope and limitations of powers of attorney.
- Ensure that your power of attorney is valid and enforceable.
- Protect your interests in the event that you become incapacitated.
- Advise appointing a trusted person to make medical and lifestyle decisions on your behalf in case of incapacity.
- Ensure that your preferences and values are respected in medical and care-related matters.
- Protect your interests in the event that you become incapacitated.
- We can advise you on the different types of trustees available and help you choose the right one for your family trust. The trustee is the person or organisation responsible for managing the trust assets and distributing them to the beneficiaries according to the terms of the trust deed. It is important to choose a trustee who is trustworthy, competent, and willing to fulfil the role.
- We advise you on the best way to structure your family trust to meet your specific needs. The structure of the trust will determine how it is taxed and how the assets are distributed to the beneficiaries. There are many different types of trusts available, each with its own advantages and disadvantages.
- Madison Marcus can provide ongoing support and advice to help you ensure that your family trust is running smoothly and efficiently. Once the trust is established, it is important to maintain it properly and update it as needed. This includes keeping track of the trust assets, filing taxes on behalf of the trust, and making changes to the trust deed if necessary.
If you are considering establishing a family trust, it is important to consult with a qualified lawyer to ensure that you understand all of the legal implications and that your trust is structured to meet your specific needs.
- Assist in creating legal documents outlining your medical treatment and end-of-life care preferences.
- Ensure that your wishes are known and followed during critical healthcare situations.
- Protect your interests in the event that you become incapacitated.
- Advise on superannuation and self-managed fund strategies to maximise benefits and minimise tax implications.
- Assist in making binding death nominations to specify how superannuation benefits should be distributed upon death.
- Protect your superannuation assets in the event of your death.
- Represent clients in legal disputes related to wills and estates, including challenges to the validity of a will or claims for adequate provision.
- Resolve estate disputes through negotiation, mediation, or litigation.
- Protect your interests in the event of a will dispute or estate litigation.
- Assist in the legal process of obtaining probate or letters of administration to administer the estate of a deceased person.
- Guide clients through the necessary steps and documentation required by the court.
- Protect your interests in the event of a death and ensure that the estate is administered in accordance with the deceased person’s wishes.
- Provide advice on establishing special disability trusts for the benefit of a person with a severe disability.
- Ensure compliance with legal requirements and maximising financial support for individuals with special needs.
- Protect the assets of a person with a severe disability and ensure that they are used for their benefit.
- We assist you with your choice of trustee, ensuring your person choice competent, and willing to fulfil the role.
- Structure the trust to meet your specific needs, taking into account your assets, liabilities, and the ever-evolving landscape of laws, including taxation and superannuation.
- Maintain the trust properly and update it as needed.
- Consider other aspects such as asset protection, tax planning, and dispute resolution.
For all enquiries in relation to wills and estate planning, or for a free 15-minute consultation, please contact our expert team today via the form on this page.
Our key people | wills and estate planning
Theresa Armstrong
Director
Anthony Malouf
Partner
Denis Hall
Special Advisor
Nikita Sofronov
Senior Associate
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