CharterLaw Estate Planning, Litigation & Asset Protection
If you own a family home and investment assets (including superannuation), tax effective estate planning can reduce tax and provide future financial flexibility for your dependants. If you control wealthy structures, tax effective planning can ensure this wealth becomes available to your beneficiaries on your death.
Effective estate planning reduces litigation. Estate litigation arises if a will is legally deficient (for various reasons) or provides inadequate provision for certain beneficiaries. Executors are prohibited from receiving an estate or financial benefit as a result of a conflict of interest and a court will order that such benefit be repaid to other estate beneficiaries.
For larger estates, tax effective estate planning can reduce the future risk of beneficiaries losing their inheritance because of financial mismanagement (i.e. bankruptcy) or if there is a change in their domestic status (i.e. divorce).