estate planning

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
Estate planning is the process of anticipating and arranging, during a person's life, for the management and disposal of that person's estate during the person's life, in the event the person becomes incapacitated and after death. The planning includes the bequest of assets to heirs and may include minimizing gift, estate, generation skipping transfer, and taxes. Estate planning includes planning for incapacity as well as a process of reducing or eliminating uncertainties over the administration of a probate and maximizing the value of the estate by reducing taxes and other expenses. The ultimate goal of estate planning can only be determined by the specific goals of the estate owner and may be as simple or complex as the owner's wishes and needs directs. Guardians are often designated for minor children and beneficiaries in incapacity.

View More On Wikipedia.org
  1. R

    Estate Planning - Property transfers CGT minimisation

    Hi, We have a question relating to estate planning – my father owns a number of commercial properties in his personal name and in various vehicles: 2 x properties in personal name (1 leasable building and 1 carpark for this building) 2 x vacant blocks (commercial) in 50% personal name and 50%...
  2. B

    Estate and Divorce

    Hi, Whilst my marriage continues on, it has been suggested that I future proof the inheritance from my Dad's estate in case that my marriage goes pear shape. My Dad is not yet deceased. I have no children of my own. In my Dad's Will I will be a Tenant For Life in his home upon his passing. On my...
  3. M

    QLD Inheritance to be received by Discharged Bankrupt. Stat Dec question.

    My wife was discharged from bankruptcy 20 months ago. A few weeks ago, her father died and she has been named as a beneficiary in the will. Her bankruptcy trustee has advised that they do not have an interest or claim on any inheritance she receives and she can keep any inheritance. Also, there...
  4. E

    Maladministration of will

    I’ve got some serious reservations about the distribution of a will that was meant to be split amongst the surviving children... What evidence does the executor need to provide about the administration of the deceased estate? What can be done if it’s later found out one of the executors was...
  5. A

    QLD Husbands sister is destroying will

    So... my husbands father passed away on Saturday. One month and one day after finding out he had terminal cancer. My husband spent all but one weekend with him I. The lead up to his death. The weekend he didn’t spend with him, his sister took a truck up and loaded it with anything of any value...
  6. Rocklyn

    NSW Definition of Grandchildren as Stated on Will?

    Hi, My mother asked me to review her will to make sure it aligns to her intent. There is an item that states "'...and any other grandchildren born after the date of this will". This leads me to ask: Q1 - Does the legal definition of " grandchildren" in estate planning include...
  7. M

    QLD One co-executor is controlling and unfair

    My brother and I are co-executors of our mother's will. I am trying to be transparent; I do not believe he is. I asked that his partner not be involved and requested only blood relatives be involved. He has sent his partner and his daughter to stay at the house and will not answer my requests...
  8. K

    NSW preparation of assets for sale by executor

    Our estate is being prepared for sale. The estate consists of a house and two vacant adjoining blocks. It was decided to dispose of the vacant blocks first. The original house was badly positioned and aligned on the first block, and the parents extended a patio over the adjoining second block...
  9. R

    Can you bind an heir?

    Hi Folks My work has offered me a retirement agreement whereby I am entitled to receive an income steam I currently receive as an employee, in retirement at the same rate of earning. The nature of income stream means it will likely reduce to nil over roughly a 10 year period. I estimate in year...
  10. G

    WA Is Relative Capable of Writing His Will While Under Guardianship?

    Hello, I have a question regarding a close relative. He has been declared incapable of managing his finances due to a mental health illness and his sister is has guardianship. Their relationship has unfortunately deteriorated over the years. One particular thing that I want to ask about is...