We get many people coming to us to help them with buying or
selling a property or a business, because people consider those are
important events in their life that need legal input. There have
been too many negative news articles about property sales or
purchases going wrong for people not to understand the serious
impact that could have on them.
It is less obvious to people what the impact could be on them
not having proper financial and legal advice in relation to putting
in place a strategy to make the most of their assets during their
lifetime and after their death for both themselves and their
families. People wrongly assume that the cost of doing so will be
prohibitive and will outweigh the benefit to them and for that
reason they put getting their financial and legal affairs in order
into the too hard basket.
Without making sure you are properly dealing with your finances
and ensuring that you have a current Will in place you are doing a
disservice to yourself and to your family. When a family is already
grieving over the loss of their family member it is a double
tragedy that they need the burden of trying to deal with your
assets and debts without the legal guidance in a Will.
We often work closely with financial advisers when preparing a
Will and other estate planning documents to ensure that all of your
circumstances are covered with your Will in the way that will best
achieve your wishes.
If any of the following apply to you then you need to consider
whether you need financial and/or legal assistance:
You have assets and / or debt, with no plan as to how to
maximise the benefit from them
You are going through a life changing event such as getting
married, divorced, having children, new job, lost a job, lost a
family member or are otherwise on a government benefit
You have assets and / or debt with no Will to govern who will
get your assets in the event of your death
You have children and you have not considered how to safeguard
their financial wellbeing and guardianship during your lifetime and
in the event of your death
You have no plan in place for how your bills would be paid or
who would make decisions about your medical care in the event that
you were unable to manage your own affairs
You have or are expecting surplus funds without a clear
direction as to what to do with them
We are happy to have an informal chat and see if we can assist
with the above. If you really need financial advice and you do not
otherwise have a financial adviser we can put you in touch with
someone who can help.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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The WA Supreme Court has recently refused a plaintiff's application to extend the time to bring a claim against an estate.
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