The Practice recognises that all matters are different, and our aim is to provide a practical and personal response to each client on an individual basis.
Estate Planning begins with your will. Every person should have a will to appoint an executor, a guardian, (if relevant) and dispose of their property in the way that they wish.
The alternative to making a will is to die “intestate”, in which case a person’s estate is distributed in accordance with the legislation current at the date of death.
Power of Attorney
A Power of Attorney allows you to choose a person or persons to manage your financial affairs.
An enduring Power of Attorney will continue to be effective if the person making it loses the capacity to manage their financial affairs, eg in the event of stroke or dementia.
The alternative to Power of Attorney, is that the NSW Trustee and Guardian will appoint a financial manager to make decisions and to take control of a person’s financial affairs, in which case a management fee will be payable.
You may appoint a guardian or guardians. Your guardian will only have authority to make decisions for you if you lack the capacity to make those decisions yourself. These include deciding where you live and what medical or other services you should receive. Your guardian may also consent to medical treatment for you.
You may also wish to make an Advanced Care Directive to express your wishes about the measures to be taken to prolong your life.
Webster & Co has experienced solicitors and conveyancers, who are able to receive your initial instruction, and manage the conveyancing process through to settlement. Working with the in-house solicitors you will be provided with the full extent of legal resources in the event of any complexities which may arise.
The alternative is engaging a conveyancing entity, which at first glance may appear a cheaper alternative, BUT which do not have the legal training or ability to answer complex questions on law and tax implications of property purchase and divestment.
Estate Planning encompasses the preparation of a will; appointing an executor of the will; determining whether a power of attorney is required and who should be appointed in that role and possibly establishing a discretionary trust.
Consideration of an estate plan depends on whether
(i) you have sizeable assets,
(ii) you have vulnerable beneficiaries with special needs;
(iii) your investment or business structures are complex and may include a self managed superannuation fund or a private company
Estate planning advice will help you to decide whether you require the preparation of more complex arrangements and a formal estate planning strategy document.
Small Business Matters
Webster & Co is able to assist with sale and purchase of businesses, companies and assets, leases, and can provide access to independent advice supported by legal documentation.
Other Matter Types
Other Legal Services not mentioned above are not the speciality of Webster & Co, but can be referred to our Associate practice in Woy Woy.