Wills & Estates Law
Aura LLP’s experienced wills & estates lawyers will help you structure your estate in line with your long-term plans. Having a Will and structuring your estate is essential to ensuring that your family, assets and business are protected for the long-term and after your death. Regardless of your assets, financial position or age, an estate plan is the most important tool in assisting your loved ones deal with your assets and liabilities upon your death, and minimise exposure to liabilities such as:
- Tax
- transfer of ownership of a business
- business continuity
The importance of an estate plan is even more critical if you have significant assets or if you are a business owner or self-employed.
How Estate Planning Works
Estate planning involves arranging the transfer of your assets in anticipation of death and aims to secure the maximum financial package for your intended beneficiaries. It also provides you with structured and flexible financial decision making until your death. A strategic estate plan will take into account whether you have growth or non-growth assets in your asset portfolio, and will recommend strategies which will reduce liabilities and allow financial gains to beneficiaries in the future.
An estate plan often includes the drafting of a Will in a manner that is consistent with the objectives of the estate plan and with any other related contracts, such as domestic agreements between you and your spouse (e.g. marriage contracts, cohabitation contracts, etc.) or co-ownership agreements. The terms of such agreements will likely impact your estate and determine important decisions such as the division of property interests and the distribution of financial assets. It is imperative that these arrangements be taken into account so that your beneficiaries are not shouldered with substantial legal or court costs upon your death.
Estate planning also involves careful attention to the tax implications of property transfer. We work closely with experienced team of accountants and financial planners to ensure that your estate is tax-efficient and tax-optimized over the long-term, and with your beneficiaries’ interests in mind.
Our Approach to Estate Planning
We take a balanced and holistic approach in preparing your estate plan. We will present you with a comprehensive list of options available for your financial and personal circumstances, and we will help you explore the benefits, risks and costs of each option so that you can feel comfortable with your decision. We will provide you with an estate plan that matches your vision – a customized strategy tailored to your unique circumstances.
Our lawyers experienced in Wills and Estates can assist with:
- Will Drafting
- Estate Planning Advice and implementation
- Probating a Will / Certificate of Appointment Applications
- Trust Agreement drafting;
- Power of Attorney for Personal Care or for Property
- Joint Tenancy or Tenant-in-common changes to Property
