Parish McCulloch can advise and represent you in all aspects of family succession planning including:
- wills and estate planning;
- preparation of trusts including discretionary, fixed and charitable testamentary trusts;
- powers of attorney;
- deceased estate administration.
Wills and Powers of Attorney
A Will and Enduring Power of Attorney should be the cornerstone of any estate plan. To ensure your Estate is administered in the manner you have chosen and to avoid unnecessary complications, it is important to seek professional advice if you intend making a Will.
There are many objectives to be accomplished through the execution of a Will. These include:
- guardianship arrangements for minor children;
- business arrangements which ensure the continuation of a business until a buyer can be found or other arrangements made;
- appointment of an executor;
- ensuring controlled distribution of assets, which enables and obliges a person’s executor to distribute the person’s assets according to their wishes;
- GST considerations for the estate;
- religious obligations.
A Power of Attorney is a formal document giving someone the legal authority to make decisions on your behalf. It is a legitimate way of ensuring that someone else acts for you when you cannot. This legal power is not without limits and the document can specify the type of decisions the person can make or for which the person can be responsible. A Power of Attorney can be revoked by you at anytime providing you are capable of understanding what you are doing.
An Enduring Power of Attorney, as opposed to a Power of Attorney, can remain valid even if you become legally incapable of conducting your own affairs. When a person who has not given an Enduring Power of Attorney to another becomes incapable of managing his or her own affairs, the law requires the Public Trustee to assume the management of that person’s affairs and property.
Parish McCulloch will accept instructions to act in the administration of deceased estates in accordance with the deceased’s will. This may involve obtaining probate where it is required and transferring property, shares and other assets to beneficiaries. We can also act on instructions of the deceased’s next-of-kin to seek Letters of Administration where the deceased died intestate (without a will).