A lot of consideration is required for planning and managing your assets for later in life. We can provide advice on the options available to you to assist in this planning. This can include; preparing Wills or Enduring Powers of Attorney, forming a family trust or altering the structure in which assets are owned at present.

Family trusts are a popular vehicle to protect assets and manage them for future generations. A trust is a separate legal entity which can acquire and own assets, invest and borrow money, and operate a business. The operation of family trusts are governed by strict rules and it is possible in some circumstances that property transferred to a trust can be clawed back. This may defeat the purpose for which the trust was set up. We can discuss advantages and disadvantages of a family trust so that you can determine whether one is right for you. Whether a trust is a good idea for you depends on your own individual circumstances.

A Will sets out your wishes regarding your funeral arrangements, how you wish for your family to be provided for and what you wish to happen to your assets on your death. For these reasons, it is a very important document. Everyone’s circumstances are different and continue to change over time. This means it is essential to have a current Will that takes into account your current circumstances and reflects your wishes.

Wills can be challenged after your death, so it is important to ensure your wishes are written in a way that has the effect intended by you. We can advise you about this and on choices you may need to consider for your circumstances.