What is Estate Planning?
A person's estate comprises their assets less all liabilities. The term "estate planning" when used by this practice means the development and ongoing review of a strategy regarding a client's estate which will be relevant both during their lifetime and subsequent to their death.
Issues for consideration during a person's lifetime can include relationship risks that they and other family members may become exposed to due to the high incidence of divorce. The rights that domestic and defacto partners become entitled to as a consequence of the duration of a relationship may also need to be considered.
ARTICLE What happens if you die without a will?
Lawyer and estate planner Tony Kelly has seen first-hand what can happen when people don't plan what will happen to their estate when they die.
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