Estate Planning

An estate is the property, real and personal, owned by an individual prior to distribution through a trust or will. Estate planning is the process by which an individual, or family, arranges the transfer of assets to heirs or other beneficiaries.

Estate planning is not just about creating a will - it is a process that focuses on the entirety of the financial affairs of a family and their interests. Properly done, estate planning facilitates the intergenerational transmission of values. Good estate planning involves implementing a plan that meets your individual needs, protects your interests and minimises potential taxes and fees. We take the time to get to know you, each member of your family, and any other stakeholders, to ensure we understand your situation and implement the best solution for your circumstances. Brown Wright Stein can assist you in choosing the most appropriate structure to ensure your family is financially secure and your estate protected. By implementing a solid foundation we can ensure consistency across all your estate planning needs.

Brown Wright Stein works with a wide range of clients providing:

Our experience

Examples of our recent experience are outlined below.

• We recently acted for a client with assets in Australia and overseas. We provided wills incorporating testamentary trusts to equalise the worldwide assets for the benefit of the beneficiaries. We also advised on a potential claim against the estate of the client's late father, the heir to a major United Kingdom supermarket chain.
• We undertook the estate planning for a high net worth family to ensure the control of family assets would be vested in trusted professionals and administered in a manner consistent with the intention of the will. The family’s wealth was tied up in a series of discretionary trusts and a special purpose company was created to act as trustee with the various powers of appointment. The outcome of the estate planning process was an assurance that the children would be entitled to adequate income while protecting the capital value from potential creditors associated with the children.
• We designed and implemented an estate plan for a family to protect the family wealth and ensure the children respected the size of the likely inheritance. A mortgage trust was implemented in order to protect the family home while allowing access to capital gains tax and land tax concessions. Upon death, the estate will be split into six trusts, plus a charitable trust. Each of the children will have three trusts with access to the trusts at age 30, 40 and 50.