Why Estate Planning Advice is Important
If you have any kind of possessions, even if it is only a house and car, it is important to get estate planning advice and the best people to give it are Lawyers Perth, since they know all about the legal aspects and what can be done. People with many assets or a business see the need for estate planning, but often those with fewer assets don’t bother with it.
This is a mistake, because estate planning also includes making a Will and if you don’t have one when you die, your estate may not go to your preferred heirs. In fact, if you only have a house, most of the value could well be taken up with the court costs and fees that will be incurred to settle the estate. So your children or spouse could end up with next to nothing.
Having a Will can also prevent bad feeling amongst the family that is likely when each one vies for their share – or decides that they should get the most assets. Estate planning will also reduce the tax that must be paid and it can provide for children who are under age or who you don’t trust to handle a large amount of money wisely. This will be in the form of a trust that can pay out small amounts or keep it all until they become more mature at a certain age that you can specify.
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