Head & Heart Estate Planning | Lawyer & law firm

Head & Heart Estate Planning

Phone: +61 423 286 881

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25.01.2022 No matter how tight you are as a family, having a Will provides your adult children with clarity about your wishes after you die and helps reduce the stresses caused by differences of opinion, which can occur in even the closest families. In addition to distributing the primary assets of the Estate, a Will covers distribution of personal items, and what youd like to happen to your body after you die - ie it answers some pretty important and emotive questions for the people who love you! If your Will needs an update, or youd like to explore a more comprehensive Estate Plan, I have some space remaining this month - hit the link to get in touch!

24.01.2022 Almost all clients who engage a financial planner will also require an Estate Plan to be put in place to manage their assets in the event of death or TPD. If youre a financial planner, when you refer one of your valued clients to me, I will work to preserve the integrity of the relationship youve built with clear communication, skilled and tailored advice, and deliver a positive experience thats consistent with what theyve come to expect from you.

24.01.2022 Why is intestacy bad for me? Short answer? Its not. Youll be dead, so dying intestate wont affect you at all. Itll have a profound negative impact on the people who love you, though. A small allocation of your mental load can save them so much long-term pain and grief, so why wouldnt you?... Lets get started on your process today, and show your family the ultimate act of love - a secure future.

23.01.2022 Its common to disagree with your spouse on the little things [like whose turn it is to change a nappy, or whose fault it is that the bin didnt go out in time] but if youre disagreeing on the big stuff [like how money should be spent and what your key priorities are] then a Testamentary Trust is a great strategy for ensuring that your assets are held and distributed to your direct descendants in the way that YOU want them to be. But back to the small stuff for a sec - whose turn is it to put the bins out this week?

22.01.2022 When it comes to your Estate Plan, who is the Executor, and what is their role? In simple terms, the Executor is the person appointed by the Will to administer the estate. A Will may appoint more than one executor, and a company can be an executor too. The Executor can also be a Beneficiary of the Will [in fact its fairly common!]

22.01.2022 Lets talk Will kits for a second. Are they worth the time to complete? Should you get one as an interim solution for your Estate Planning? Will kits can certainly be useful for people who would otherwise never be able to afford a Will. That said, the circumstances where they are a suitable option for a persons circumstances are extremely limited. And the problem is that you wont find out if your circumstances are suited to a DIY Will Kit unless you get legal advice first... [in which case I think the lawyer would convince you to spend the money to get it done properly] or until you die and your Executor has to rely on that Will to manage your Estate. They also run the risk of providing a false sense of security when used as an interim solution, so wherever possible my preference is to have a chat about whats necessary for you to have in place, and work out a customised solution in order to best protect you.

21.01.2022 But also - be anti-racist. Be committed to justice. Find your values and lean into them every day.

21.01.2022 When it comes to planning for the care of your children in the event of your death, think about the resources that the people caring for them would require in order to provide stability and continuity of care for them. If thats your partner/co-parent, would they stay in the home youre currently living in? How much help would they need in order for that to happen? If your assets dont meet the number you think youll need, its a good idea to make sure you have adequate insurance in place to cover the difference. A good financial planner is worth their weight in gold when it comes to working this stuff out - DM me for the details of mine!

21.01.2022 As part of the Estate Planning process, Ill help guide you to record or write a message to be given to your loved ones in the event of your death. While it sounds a bit morose to begin with, its actually a really thoughtful way to communicate your values and truths to the people youd most like to hear them, and Ill coach you as little or as much as you like in order to help you say what you want to say. I have some availability for August, so if youre ready to get the ball rolling, hit me with a DM!

21.01.2022 Did you know that disagreements around money are one of the top 3 reasons that relationships and marriages end? Different values, different priorities, and different habits, around money are an important thing to discuss with regard to Estate Planning. If you and your spouse approach the family finances differently, a Testamentary Trust is the best way to ensure your assets are distributed in a way that includes YOUR values- not just your partners, and Vice Versa. If youd ...like to know more about why I love Testamentary Trusts, and how I think theyre the best strategy to create a loving and secure future for your family, message me or book in for a free chat on my website via the link below: https://www.headandheartestateplanning.com.au/

20.01.2022 Sometimes, its all we can do.

20.01.2022 When it comes to choosing a guardian for your kids, theres a lot to consider. Who will ensure your values are preserved, and live into them when raising your children? Who will be able to provide your family with the support they need, both emotional and practical, if you were to die? Ive created a downloadable resource on my website to help you and your partner sit down and assess who will be the most appropriate guardian for your child or children- you can check it out ri...ght here. Let me know how you go! https://www.headandheartestateplanning.com.au/

20.01.2022 Its the nature of living in unprecedented times Hands up who else could really go for some precedent times right about now?

17.01.2022 We never know what the future holds or when an emergency will arise, so its always best to be prepared. Having some clarity around your wishes in the event you become incapacitated takes an enormous mental load off your loved ones - dont leave them guessing as to how you would want to be cared for. Having a medical Power of Attorney in place means that youll have a nominated person in charge with a clear set of instructions as to your wishes.

16.01.2022 Its feeling a little bleak here in Melbourne at the moment, truth be told. Hopefully if we all stick together in abiding by the lockdowns and mask-wearing, the flowers will be blooming for us again soon.

16.01.2022 Your phone, your TV, your entire year - seriously, has anyone tried turning 2020 off and on again?

13.01.2022 Am I too young for a Will? This is one that pops up a bit with younger people that I talk to, and to that I say, no! A Will is a living document that you can update with each life stage or milestone, so beginning with a simple one when youre young and updating it as you move through life is actually a solid game plan - especially if you have pets or specific sentimental items youd like gifted in specific ways. You can also select your Powers of Attorney, so that in the eve...nt you become unable to manage your own affairs and medical treatment, they can be managed by the person or people of your choice with a clear directive. This is especially important if youre a young adult, in a committed relationship, but would still like your parents to have complete say over everything if youre unable to. You might love your girlfriend or boyfriend, but know that a parent is the one with your best interests at heart.

13.01.2022 Itll never happen to me. Sure, the likelihood of being struck by lightning is pretty low, and as a healthy active young person its easy to pull ourselves into an invincibility mindset. But - ultimately we cant choose our timeline. I have first-hand experience about how the unexpected death of a parent can affect a family, and first-hand knowledge of how having an estate plan in place can mitigate so much of the immediate despair for your family if they were to lose you.

13.01.2022 With the demands on our time greater than ever, especially for parents, prioritising flexibility for my clients has never been more important. The importance of having an Estate Plan in place is also at an all-time high with the threat of COVID feeling at the moment like an ever-darkening cloud for those of us in Melbourne. Just a reminder that if you choose to engage me for your Estate Planning, Ill do my absolute best to work to a time frame that suits you, and give you as much flex as possible with virtual meeting times including Saturdays and evenings.. It might feel like a small detail, but ensuring that my clients feel seen and understood is so important to me!

13.01.2022 I accepted a new mentoring role with the College of Law this month. Ive been assigned three mentees who I will meet with and mentor. These students are completing a course replacing the work experience requirement before being admitted to practice, and my role will be to guide them. Im really excited for this opportunity to provide guidance to the next generation of lawyers, and look forward to sharing my experience of this in the coming months - hoping to have a bit more success here than I did teaching Grace to apply lippie.

12.01.2022 Not advocating for world domination here, but its amazing how having a plan laid out can make you feel more settled. I talked last week on Instagram about the simple act of meal planning, and how much of an impact an hour of commitment had on my Monday- I was able to approach the working week with a clear head and was full of enthusiasm. I want you to be able to gain that same clarity when it comes to your Estate Planning- which bits are of most importance to you, how you ...might consider structuring your Estate Plan, and who are the people you need to look after. Thats why Im creating my very first Online course! The course will be a step by step unpacking of some of the most important elements of Estate Law, and helping you understand the information you need to gather in order for the Estate Planning process to be effective. I cant wait to share it with you!

12.01.2022 Ive talked a lot recently about self-compassion, and the truth is, its kept me afloat this year. Relaxing some of the standards Ive held for myself a little and allowing myself some wiggle room to be human has really helped me navigate the choppy waters of 2020. Well all bloom again eventually.

10.01.2022 Estate Planning is just one piece of the puzzle when it comes to having all your affairs in order, but its also one of the most powerful in terms of building a road map for the rest of your future- once you know that this super important detail is taken care of, the clarity and peace of mind spills over into ticking off other tasks as well- its addictive! If youre ready to begin formalising your Estate Plan, get in touch via our website!

09.01.2022 Imagining your partner dying, or children growing up without you is too painful. You just don't want to think about it. So you dont. And then when they actually do die, the pain of losing them is amplified a hundredfold due to your unwillingness to face that discomfort in life. I know that its tough. I do. But a little bit of discomfort now can save a world of pain later.... Not sure what you need to get started? You can begin online right here: https://headandheartestateplanning.wills.settify.com.au//d

05.01.2022 When it comes to older children, Im in favour of affording them some autonomy, especially when it comes to who their guardian would be if you were no longer around. If youve got older children, I suggest involving them in the process of selecting their guardian/s. Talk to your children about what they would want, and who they would want to care for them, and talk about possible scenarios that might affect their schooling and relationships. Not only does this take their preferences into account, it opens up the pathway to further communication so that if you were to pass away unexpectedly, theres a degree of emotional surety in place from those discussions.

04.01.2022 If you dont have a Will in place to protect your dependants after you die [even if theyre adults now!] Id love to know: whats stopping you? DM me with your invisible barrier or drop it below and lets see if we can work it out together!

02.01.2022 A common drafting mistake that I see when it comes to guardianship of children is that people nominate a couple as guardians, when they really only mean one of the people in that couple. It's really important to be specific here - your Will is designed to prevent your assets from falling into the wrong hands, so its vital that they also protect your most vital assets of all - your kids. For example if you're choosing your Mum and Dad, do you really mean you want your Dad to ...take of them if your Mum has died before you? Or if you've named your sister and her husband, do you want her husband to have legal rights over your children? What if she dies, or they divorce? A good rule of thumb here is to be really clear about saying what you mean. Hurt feelings are less of a consequence than people you dont intend having the power to make legal decisions for your kids. And always appoint an alternate guardian!

02.01.2022 I strongly believe that as lawyers, if we want to work in a better framework, then we should contribute to how legislation is developed. I also believe in the power of people to bring about change. I recently joined a small national committee of lawyers who will be lobbying for the ongoing power to sign electronically wills, powers of attorney, and affidavits on an ongoing basis. Emergency legislation and regulations changes are currently set to expire in Sept in New South Wa...les and October in Victoria, meaning that both us and our clients might be placed at risk. Its not a conversation we take lightly, and I understand the importance of balancing the efficiency that electronic witnessing brings with the dangers for abuse, especially for elderly and vulnerable people. The committee will also help listen to the profession about these concerns and build safeguards into any proposals that we put forward to be considered in new legislation. Im really proud to be a part of something that has the potential to benefit so many people so profoundly.

02.01.2022 Marriage, a union of souls certainly, but also a union of a whole lot of other things, usually including finances! The start of your married relationship is a great time to sit down and have a healthy no-holds-barred chat about your financial values and priorities, and how youd like your assets to be distributed in the event of your death - far from putting a dampener on your big day, preparation is the best way to achieve the peace of mind you deserve for your big day!

02.01.2022 Im often asked to put Estate Plans together where the situations have additional complexities to consider - for example, a spouse with a job or business that puts them at risk of bankruptcy, or maybe a history of being financially irresponsible [or illiterate] or with problematic gambling habits. Putting the assets concerned into a Testamentary Trust is one of the best possible ways to protect them against these risks, and means that money will be preserved to best serve the intent of the Will Maker - for example, providing their children with a place to live.

01.01.2022 Your Residuary Estate is defined as the remainder of the estate after debts and liabilities are paid, and specific gifts and legacies are distributed. In other words, its any part of your estate thats left over when your Will has been executed according your your wishes. Even the worlds most comprehensive Will is unlikely to account for every single thing that a person owns, so a Residuary Estate Clause covers everything thats left behind and is actually where the bulk of... your assets lands and is gifted from. This clause can seem and be simple, but if its missed its likely that your Will is incomplete. Lawyers also have a way of drafting the Residuary Clause so that as many scenarios are covered as possible, and literally every single word in this clause will be considered, chosen, and included on purpose to achieve exactly what you want to happen.