Lawfinders
Wills
Often it is not until something catastrophic happens to a person that they start to think about a Will. In fact, millions of people in Australia do not even have a valid Will.
They work hard their whole lives, building up their assets, (be it houses or investment properties, a share portfolio, or even money in the bank), only for their loved ones to find the tax paid as a result of not having a valid Will is far greater than what could have been achieved if an appropriately structured Will had been put in place.
Wills can create a legal structure called a Trust. A Trust can be set up through a Will to make sure there is a reduction in Capital Gains Tax and other taxes. Your lawyer can advise you about this issue.
Many people use cheap and simple Will kits but at the Accident Victims Association we strongly advise against this practice. We believe you would be better off seeing one of our solicitors who can draft a Will tailored to your particular circumstances. It might cost you more but the amount of money you could save for your family by having a Will drafted by your solicitor could be potentially hundreds of thousands of dollars. After all, you get what you pay for.
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