In 2021, these are valid questions.
While it is starting to look like we can see the end of the COVID tunnel, can we really be sure of what is lurking around the next corner? We know that we cannot. We are also very aware that conversations about worst case scenarios are unpleasant and avoided by many. But these conversations are important and planning for any eventuality is the wisest and kindest move you can make. A well-constructed estate plan provides certainty in a time of emotional turmoil and can help to minimize further stress and family conflict in the event of a loved one’s passing.
Many people believe that writing a will is akin to having an estate plan.
A will is a great first step. Most people understand the importance of having one. But often they are static documents, written in a particular moment in time. Families change, circumstances change, laws change. So, reviewing your will makes sense.
The reality is that a will is only a part of a comprehensive estate plan. Family finances can get complicated and there are many variables that can impact your estate upon your passing. Trusts, businesses, tax structures, blended families, superannuation – these are all examples of issues that can make a simple will suddenly a whole lot more complex.
“Every family can benefit from a well-structured estate plan,” says Andre Vosloo Director, AVA Solicitors. “As specialists, my team and I take pride in the work we do with our clients in this space.
Our strong and mutually respectful relationships allow us to fully understand their, at times, complicated financial situation, enabling us to provide the most comprehensive advice.”
“While it might sound obvious, we always start with listening. That is the key. What do our clients really want? Who are the intended beneficiaries” continues Andre. “The next step is finding out, what do they have?”
There is often more to consider than people realise. What is the impact of life insurance on your estate.? How do you protect your beneficiaries from their own vulnerabilities, such as divorce, bankruptcy, addiction or age? Who has powers of attorney or guardianship?
At AVA Solicitors, we know that knowledge is power. It always is. We take pride in working alongside our clients’ financial advisers, accountants, family members and all the relevant stakeholders.
The more knowledge we have about our client’s affairs, the better we can serve them. You can put your trust in us.