In terms of all facets of wills and estate matters, including oversight, estate litigation, handling, and planning, our Wills and Estates team gives thorough legal advice. We are knowledgeable about estate litigation, estate handling, wills, and estate planning. In 1986, we were set up.
Let’s examine the option. It’s crucial to review and revise your intention as needed after you’ve made it. Lawyers for estate planning are knowledgeable about the laws and laws that apply to wills and estate planning in Australia today.
Estate Planning
To ensure that their plans are carried out ably we work with our clients to plan for every feature of their estates, both now and in the future. We do this by if them with a basic kind of estate planning. Our seasoned Wills and Estates team works together carefully with our tax, real estate, business, and business teams to make sure that our plans and results have been modified to meet the particular needs of each of our clients.
Benefits of Estate Planning
Regardless of age or wealth, everyone requirements to plan their wills and estates. Estate planning has many benefits, such as:
- Make sure that the division of your assets reflects your desires.
- Give someone the role of the executor.
- Create trusts for dependents, such as minor children.
- List the guardians of small children.
- Give to charitable organizations.
- Provide detailed directions for your interment and funeral.
- Cut back on taxes and other costs.
- Keep your stuff safe from creditors.
What is Tonkin Law?
Australian legal practice Tonkin Law is found in Greensborough, Victoria. The firm focuses on property and conveyance, estate planning, wills, and family law. David Stagg Tonkin, an outside lawyer at the firm, founded Tonkin Law in 1960.
Tonkin Law in Today’s World
In the modern world, Tonkin Legal Group can meet the needs of its clients. The legal specialists at this firm have a prosperity of connection and knowhow in the areas of family law, real estate and moving, and wills and estate planning.
Types of Wills in Australia
There are key kinds of wills in Australia:
- Simple wills:
- Joint wills:
- Trust wills:
- Testamentary trusts:
- Living wills:
- Statutory wills:
What happens if you die without a will in Australia?
Your possessions will be divided in line with the state or ground’s laws of intestacy if you pass away in Australia without a will. States have different laws regarding this, but in general, the things you buy are split in a sure order to your spouse, kids, parents, siblings, and other family members.
Conclusion
No matter how wealthy or old, everyone requirements to plan their estate and have wills. Your desires for the division of your belongings after your death are outlined in a will, which is a legal document. Making strategies for how your wealth will be managed and willing of both during your lifetime and after your death is known as estate planning. to guarantee the equitable sharing of your assets by your desires. Your state’s laws of intestacy, which will govern how you get rid of your property if you pass away without a will.
