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Estate Planning Townsville

Estate Planning Townsville

Estate planning involves planning how your wealth is to be owned, managed, and preserved during your lifetime and how you want it distributed when you die.

You want the best for your family. You want your loved ones to enjoy a stable and comfortable life even when you are gone. You want a bright future for your kids and grandchildren. For the best estate planning in Townsville, you will need to ensure that your wealth or properties will ultimately end up in the hands of the people you trust and love. It helps you ensure proper management and distribution of your wealth when you die or become incapable.

That wealth will in most cases comprise assets held personally and jointly, in superannuation, insurance policies, by private trusts, companies and partnerships. How this wealth is held will also affect social security entitlements and the taxation of that wealth.

Townsville’s Leading Estate Planning Law Firm

At Connolly Suthers, we know what you want, and we work diligently to make that happen. Whether you want to leave your wealth to your beneficiaries or you want someone you trust to facilitate the distribution of your assets when you are gone, our experienced estate planning lawyers can provide the right legal assistance. We have been helping clients prepare their Wills, Binding Death Benefit Directions, Enduring Powers of Attorney and guiding our clients through the trips and traps of this process for many years. By providing guidance in estate planning, we have helped many people avoid family disputes and other problems related to wealth distribution.

You can increase the size of your estate by ensuring that it is passed onto your beneficiaries in the most financially efficient and tax effective way. This requires an understanding of complex rules, establishing and maintaining appropriate legal, family and investment structures and anticipating changes requiring corrective action. 

Some people have more complicated lives than others in that they are a part of blended families or have beneficiaries with disabilities or special needs. They may also have children who are encountering marriage difficulties and do not wish to see their family wealth end up in the hands of an outsider. Some people's wealth may also be at risk due to their profession or business activities in the event that they are not properly insured.

With a myriad of complex rules and regulations involving Bankruptcy, Taxation, Superannuation, Social Security, Succession and Family Law to consider, it is simply not worth the gamble having a team who is not equipped to navigate through these complex areas. We can assist you and your financial planner and accountant with a range of issues in arriving at the perfect plan for you. Having just a simple will in most cases will not be enough.

Estate Planning Townsville with Connolly Suthers

Our Wills and Estates team can help you with the following:

  • Wills and Estate Administration
  • Testamentary Discretionary Trust Wills
  • Enduring Powers of Attorney
  • Advance Health Directives
  • Super Fund Binding Death Benefit Directions
  • Family Trust Succession Agreements
  • Asset Protection Strategies
  • Self Managed Superannuation

What we require from you to complete a Will

We've provided you with a list of things we need from you to properly look after your interests when advising clients about estate planning in Townsville. Click here to view the list.

What does estate planning cost?

At Connolly Suthers, after reviewing your situation and instructions we will provide you with a costs disclosure before doing any work for you.

There is no obligation if you decide not to proceed after receiving our costs disclosure.

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What is estate planning?

You have spent your life working hard—developing a nest egg. Over the years you’ve accumulated assets; perhaps you’ve established your own business or built up the family farm. You’ve watched your wealth grow.

Given the effort and energy you’ve put into your estate, it makes sense that you also invest in a plan for its future. Our Estate Planning in Townsville is centred around passing on your wealth to the next generation in a way that involves maximum benefit and minimum worry.

Estate planning is about managing your wealth ‘today’ so that it can be enjoyed by your family ‘tomorrow’. It’s about transferring your assets to the next generation in the most financially beneficial and hassle-free way. It’s about avoiding family fall-outs and doing all you can to ensure your next of kin do not have to suffer the emotional and financial cost of complicated court battles regarding your estate. It’s about giving the next generation more flexibility when it comes to how they want to use their inheritance. 

Without a proper estate plan, your assets are vulnerable. There are a number of factors that can decrease the value of your wealth and interfere with how it is passed on to the next generation.

A good estate plan protects your assets against unnecessary tax. The laws surrounding tax are complex and constantly changing. Without expert advice, a large portion of your wealth could end up in the taxman’s pocket.

It’s also important to consider complications that can arise relating to bankruptcy, claims from creditors, family court disputes and insurance disputes. Without a solid estate plan, all these factors have the potential to impact the way your wealth is passed on to your family.

Estate planning is about ensuring your wishes are carried out when you are no longer able to have a say.

An estate plan gives you the power to nominate someone you trust to handle your wealth if you are incapable. You can also nominate guardians for dependant children or relatives with disabilities. An estate plan allows you to choose who is responsible for distributing your assets and making sure your wishes are adhered to when you are gone. 

A comprehensive estate plan offers you peace of mind for what you leave behind.

Connolly Suthers practical approach ensures that our clients in Townsville and beyond manage and distribute their assets in the most efficient way. We are always ready to help with anything related to Wills and Estates. Tell us about your needs or situation and we will draft a plan that will work best for you and your beneficiaries. 

For advice on Wills and Estate Planning, please call or email our Townsville Wills and Estates Team.

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