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Estate Planning
Planning ahead helps ensure your estate is managed in line with your wishes and reduces stress and complications for your family. We prepare tailored estate planning documents and provide advice that reflects your family, financial and business circumstances.
Wills - We draft clear, legally sound wills that set out who will administer your estate and how your assets will be distributed after your death. Your will can also address guardianship for minor children, specific gifts and instructions for sentimental items.
Testamentary trusts - Testamentary trusts can help manage assets for beneficiaries, provide tax flexibility and offer additional protection where there are young, vulnerable or high‑risk beneficiaries. We advise on whether a testamentary trust is appropriate for you and design trust provisions aligned with your objectives.
Enduring powers of attorney - Enduring powers of attorney allow you to appoint trusted people to make financial and/or personal decisions on your behalf if you become unable to do so. We explain the different roles and responsibilities; help you choose suitable attorneys and prepare documents that clearly set out their powers and any limits.
Appointment of medical treatment decision maker - You can formally appoint someone to make medical treatment decisions for you if you cannot decide for yourself. We prepare appointment documents and discuss how they work alongside advance care directives and your broader estate planning arrangements.
Binding death benefit nominations - Superannuation does not automatically form part of your estate, so it is important to consider how your superannuation death benefits will be paid. We advise on and prepare binding death benefit nominations to direct your superannuation to your estate or specific beneficiaries in a way that complements your overall estate plan.
FAQs: Common questions about planning your will, powers of attorney and estate planning are answered below.
Frequently asked questions about planning your will and estate
Why do I need a will in Victoria?
A properly drafted will sets out how your assets are to be distributed when you die, helping to reduce stress and uncertainty for your family in Victoria. Without a valid will, the law decides how your estate is distributed, which may not align with your wishes or intentions.
Can I write my own will in Victoria?
To be legally valid in Victoria, a will must satisfy strict formal requirements. Although you can prepare your own will, homemade or DIY wills often create problems if they are unclear, incomplete or do not properly deal with all of your assets, so obtaining legal advice from an experienced wills and estates lawyer helps reduce the risk of disputes or unintended consequences.
How much does it cost to prepare a will or estate plan in Melbourne?
The cost of preparing a will or estate plan in Melbourne depends on your circumstances and the complexity of your estate. Simple wills are usually straightforward, while more detailed estate planning may involve additional documents such as powers of attorney, superannuation nominations or trust structures, and we provide clear information about fees before any work begins so you understand your options.
What is estate planning and when should I do it?
Estate planning involves putting legal arrangements in place to protect your assets and provide clear instructions for how they are to be managed and distributed in the future. It is helpful at any stage of life, especially after major life events such as marriage, separation or divorce, the birth of children or grandchildren, the death of a family member, buying or selling a home, starting or selling a business, or planning for retirement.
How often should I review or update my will?
You should review and update your will whenever your personal or financial circumstances change, such as marriage, separation or divorce, having children, entering a new relationship or acquiring significant assets. Regular reviews help ensure your will continues to reflect your current wishes and estate planning goals.
How does succession and retirement planning work as part of my estate plan?
Succession planning helps you transfer assets, businesses and responsibilities to the next generation in an orderly way, often as part of broader retirement planning. Early succession and retirement planning can help avoid disputes, support financial security for you and your family, and provide a smoother transition out of a business or into retirement.