Embrace peace of mind
for those you love
Feel confident your family will be looked after when you’re not here or you become incapacitated, while being reassured your wealth will be distributed as intended.
As hands-on estate planning professionals in Australia, we know from experience that every financial and legal decision you make, isn’t really just a financial one. Because when it comes to passing down your hard earned wealth, and ensuring the financial security of your family, the hearts and minds of the people you love are always top of mind.
That’s why when it comes to estate planning at Palmers, we consider ourselves as your privileged and trusted partners. Our panel of experienced estate planning specialists are ready and willing to guide you through the personal decisions in your life that really matter.
Wills and letters of wishes
Did you know more than half of all Australians die without a will? And only 25% of Australians have up to date comprehensive estate planning in place? Given that we will all pass on one day, don’t leave the nest egg you’ve earned over a lifetime to chance. Written instructions on how you want your wealth distributed when you pass away is one of the most important steps in estate planning.
Powers of Attorney
As you age, there may come a point where you cannot make decisions for yourself. This is where a power of attorney can form a core part of your estate planning decisions. While the documents to complete differ in each state, in general, you can appoint people for either financial or medical decisions.
Depending on the state you live in, an enduring guardian is someone you appoint to make lifestyle and health decisions on your behalf, if you don’t have the capacity to make the decisions for yourself. It’s always a good idea to get this in place before circumstances arise where you might need it.
This is a type of discretionary trust that is established within your will. What it allows is for the trustees to decide which of the nominated beneficiaries may receive a benefit of distributions from the trust. They can be beneficial as part of your estate planning as they offer asset protection and the flexibility for tax-effective distribution of capital and income.
Family Business Succession
Handing over the reins of a family business to the next generation isn’t always straightforward. When you’ve worked hard to build a strong family brand, you want the future of your business to remain bright. Each business is unique, so we partner with you to develop a personalised succession plan in your family’s best interests.
There are two main types of beneficiary nominations for who you leave your remaining superannuation too – binding and non-binding nominations. We can assist you with formal written direction to your superannuation fund to put in place a legally binding nomination to tell them who your account balance paid to. They generally only last three years, so we can remind you also when a nomination should be redone.
An executor is responsible for administering your estate and distributing your assets according to your will. Depending on the complexities involved, this role can be lengthy and complex so seeking the advice of estate planning professionals can ensure you make an informed decision on who you appoint as your executor.
Trust Succession Review
When you hold assets within a trust they don’t automatically form a part of your estate. So when you want to ensure your succession planning is exactly as per your objectives, we can help with a review of the trust deed and related documents to ensure what happens when you lose capacity or pass away is as you have planned.
Grants of probate and reseals
It is becoming increasingly common for banks and insurers, in particular, to require an executor of an estate to obtain a grant of probate before providing relevant access and authority over the deceased person’s assets. This grant of probate confirms that the will presented in the last will of the deceased and that the appointed executor can act on behalf of the estate. Our experienced estate professionals can help you with your grant of probate and reseal application.
Estate Property Transfers
The transfers of the deceased assets is a major part of managing an estate. The more you can plan ahead and identify your assets, the easier the task will be for your executor. We can help with the preparation of documents to transfer assets, so your beneficiaries can have financial security as soon as possible.
Ready for rock solid estate planning advice?
At Palmers, we're on your side
Our down to earth, practical and personalised estate planners will take you from concerned and stressful to confident and in control. Here’s just a few of the ways you can experience the Palmer difference.
We’re here to help.