You may have assets which will not be dealt with under the Will (e.g., real property held as joint tenants, superannuation, joint bank accounts etc). We will discuss this with you and provide appropriate advice. It may be necessary for us to take additional steps to give effect to the overall estate plan such as severing joint tenancies, making superannuation binding death benefit nominations, or varying family trust deeds etc. Please bring to the appointment a list of the assets, the beneficiary for each asset and the value of each asset.
Are there sufficient assets to cover all specific gifts and leave residue?
We will discuss with you the risks if a specific gift is disposed of in your lifetime.
Please bring to the appointment a list of all trusts in which you are an office holder (i.e., trustee, appointor, principal etc). Please also advise who are the trustee(s) and beneficiary(s) and the assets owned by each trust. We may need to obtain copies of the Trust Deed, Financial Statements for each trust and company Constitutions (or memoranda and articles of association) where the trustee is a company.
Please bring to the appointment a list of all companies/partnerships in which you hold an interest. Please also advise who are the shareholders/partners and the assets owned by each company/partnership.
If a company, we may require a copy of the Constitution.
If a partnership, we may require a copy of the Partnership Agreement.
Please bring to the appointment a list of beneficiaries, the percentage you wish each beneficiary to receive and whether they are a resident of Australia. If a beneficiary is a non-resident for tax purposes, then capital gains tax ("CGT") may be payable by the estate. Please provide instructions as to whether the tax is to be borne by the particular beneficiary or the estate generally.
If charities are included as beneficiaries, we will contact the charity for appropriate bequest wording. We may need to consider whether the gift of any specific asset to a charity will trigger CGT issues. We will consider whether we are able to provide advice, or recommend you obtain advice on taxation including CGT.
Please bring to the appointment a list of the charities you wish to benefit.
Family Provision Claims
We will advise about family provision claims and whether potential claimants should be entirely disentitled under the will, receive a nominal bequest only or receive a disproportionate bequest to other members of a class of potential claimants.
Assets & Liabilities
Please bring to the appointment a list of all assets and liabilities, including real property, bank accounts, shares, motor vehicles, household contents (e.g. collectibles, jewellery, art etc.), life insurance, superannuation, loans and mortgages.