Initial Consultation: We will meet with you to discuss your family and personal circumstances, your current estate planning arrangements and to take your instruction. We will provide you with some initial advice on the different ways we can help you implement an effective estate plan.
Appointment of Executors: Your appointed executors are responsible for administering your estate, upon your death.
Standard Specific Gifts: You may wish to specifically bequeath gifts to your family and loved ones, eg.: family heirlooms, jewellery, cash gifts, vehicles or other personal property.
Residue of Estate: The residue is made up of your personally held assets that are not specifically gifted under your will.
Guardianship Plan: If you have minor children, you may wish to leave guidelines for the appointed guardians. This plan sets out your instructions and wishes for the guardians to consider when making decisions about your minor children (e.g. accommodation, education, sporting, cultural, religious and day-to-day care and wishes of your children).
Testamentary Trusts: Testamentary trusts are established in a will and hold assets on-trust for your beneficiaries. This can either be until your beneficiaries reach a certain age, or as a continuous trust for generations to come. The benefits of a testamentary trust include asset protection (in so far as possible) in the event of a bankruptcy, marriage breakdown, property settlement, as well as taxation planning which can lead to significant savings.
Memorandum of Wishes: Separate documents addressed to each of the Trustees, Appointors and Primary Beneficiaries of the testamentary trusts established in your will. These documents explain for each party: their role, the benefits and the reasoning behind your decision to establish testamentary trusts in your will.