Wills & Estates

Estate Planning

Estate planning is an important process to ensure your assets are ultimately distributed in accordance with your wishes after your passing.

Our solicitors, led by Carley Ronan, will consider all of your circumstances (personal and business) and provide detailed and structured advice to you based on your instructions.

When you engage Holt Lawyers to work with you on your Estate Planning, the process will include:

Creation and customisation of all relevant documents:

• We will review your situation and create the necessary legal documents such as wills, trusts, and powers of attorney. We will ensure these documents suit your specific circumstances, ensuring that your wishes are accurately reflected, and the process is as uncomplicated as possible.

Advice on Complex Family Situations:

• If you have a blended family, stepchildren, dependents with special needs, or other complex family dynamics, we can help structure your estate plan to address these intricacies and minimize the potential for disputes.

Tax Planning:

• We do not give accounting or financial advice, but we will work closely with your advisors where appropriate to implement tax-efficient strategies within your estate plan.

Avoiding Legal Pitfalls and disputes

• DIY estate planning can lead to mistakes and oversights that may have legal consequences. We will help you avoid these potential pitfalls.
• The right estate planning documents can reduce the likelihood of family disputes or legal challenges after your passing. When we are involved in your estate planning, we will work with you to avoid the potential for disputes.

Updating Documents:

• Over time, your circumstances, family dynamics, and financial situation may change. We will work with you to regularly review and update your estate plan to reflect these changes and ensure its continued relevance.

Power of Attorney and Health Directives:

• In addition to wills and trusts, estate planning often includes appointing someone to make financial and medical decisions on your behalf if you become incapacitated. We can draft legally binding powers of attorney and health directive documents.

Probate Assistance:

• If your estate requires probate, a solicitor can guide your executor through the process. This includes preparing and filing necessary documents with the court, which is a complex task.

While it may be tempting to attempt estate planning without professional assistance, the legal complexities involved make it a task best left to solicitors who specialise in this area.

Our expertise in this area ensures your estate plan will be comprehensive, legally robust, and aligned with your unique goals and circumstances.

 

Drafting Wills

At Holt Lawyers, we have many years’ experience in drafting wills for our clients, from simple wills to more complex wills depending on your situation.

This is a crucial step in your estate plan, and our process will involve:

Initial Consultation:

• The process begins with an initial consultation between our solicitors and you, where we will gather information about your assets, liabilities, family situation, and your wishes regarding the distribution of your estate.

Legal Advice:

• We will provide you relevant legal advice based on your individual circumstances. We will explain the implications of different clauses, legal requirements, and potential tax considerations. We will give advice on potentials for disputes or any issues we foresee based on your circumstances.

Structuring the Will:

• Using the information gathered, we will structure the will to reflect your wishes. This involves determining the beneficiaries, specifying the assets to be distributed, and incorporating any specific conditions or restrictions.

Incorporating Trusts or Testamentary Trusts:

• Depending on your situation, we may recommend incorporating trusts or testamentary trusts into your will for the purpose of estate planning, tax minimisation, or providing for vulnerable beneficiaries.

Appointment of Executor and Guardians:

• We will give you advice on appropriate executors, and if you have minor children, we will work with you in appointing guardians who will take care of them in the event of your death.

Updates and Amendments:

• We will provide advice to you on updating your will which is especially relevant in the event of major life changes such as marriage, divorce, birth of children, or significant changes in financial circumstances.

When you engage our firm to draft your will, we will ensure you receive a will that reflects your intentions, is legally valid and minimises the potential for disputes.

 

Enduring Power of Attorney

An Enduring Power of Attorney is a legal document that grants someone the authority to make decisions on your behalf, especially if you become incapable of making those decisions due to illness or incapacity.

We can assist you in preparing this important legal document.

Queensland has specific legal requirements regarding the creation and execution of Enduring Powers of Attorney. Our solicitors will ensure that your document complies with these requirements, making it valid and legally enforceable.

 

Estate Administration

We can assist you with Estate Administration in the event someone has passed away.

The process will depend on the estate value (assets and liabilities), and the quality of the estate documents. Our solicitors are experts in ensuring the orderly and cost effective administration of an estate.

Our process involves:

• Determining if a Grant of Probate is required.
• If there is no valid will, advising you whether Letters of Administration are required.
• Collating information on the value of assets and liabilities.
• Providing advice to the executors/administrators about the administration of the estate.
• Administering the estate.

This can be a complex process, and our solicitors are well placed to provide you clear, concise advice on all of the necessary steps in what can be a very stressful time.

 

Grant of Probate

When someone passes away, often it is necessary to apply for Probate. We can assist you in this process.

When do you need to apply for Probate?

Probate is typically required when an individual passes away, and their estate is significant or complex.

Here are common situations when probate may be required:

1. Large Financial Accounts:

• Financial institutions, especially banks, may require probate before releasing significant funds held in the deceased person's name. The threshold for requiring probate varies with each bank.

2. Aged Care and Retirement Living:

• These institutions require probate to release any funds.

3. Shares and Investments:

• Probate may be needed to transfer shares, investment accounts, or other securities held solely in the deceased's name.

4. Business Ownership:

• If the deceased person owned a business or was a partner in a business, probate may be needed to transfer or sell the business interests.

5. Contested or Complex Estates

Probate is not always required, and we will work with you to determine the best process.

Our solicitors are experts in this area of law and will ensure the correct processes are followed to ensure the estate can be administered.

What is involved in Probate?

Probate in Queensland refers to the legal process by which the Supreme Court officially recognises the validity of a deceased person's will and grants authority to the executor named in the will to administer the estate. The executor is the person or entity appointed by the deceased to carry out the terms of the will and distribute the assets to the beneficiaries.

The steps involved include:

1. Obtaining relevant documents such as the death certificate and will, and any other relevant documentation.
2. Applying for probate: we will prepare the necessary paperwork and file it in the Supreme Court.
3. Locating, identifying and then notifying creditors and beneficiaries.
4. Providing advice to the executors on the process, and their obligations.
5. Administering the estate when probate is granted.

It's important to note that the probate process may vary based on the complexity of the estate, the presence of disputes, and other factors. Seeking legal advice from qualified solicitors is essential.

Our solicitors, led by Carley Ronan, are able to assist you in this process.

 

Letters of Administration

When a person passes away without a valid will (intestacy), the Supreme Court of Queensland can issue Letters of Administration that appoint an administrator.

If this applies to your situation, we will assist you in this process, which can be complicated having regard to the rules of intestacy.

If your loved one passed away without a will, contact our office to discuss the next steps.

 

Contesting a Will

Contesting a will in Queensland involves challenging the validity of the will or disputing the way in which the estate is distributed. If you believe you have grounds to contest a will, please contact our office to discuss your next steps.

There are strict timeframes and requirements, and we can assist you in this process.

If you are an eligible applicant, we will work with you to file the court application (Family Provision Application).

Seeking legal advice early in the process is crucial to understanding your rights, obligations, and the likelihood of a successful outcome.

 

Expertise