Busy FIFO professional needs a Will
When you are working remotely, the time you spend at home is precious. You want to relax, perhaps do a spot of golf or gardening and be with your family, not running around taking care of administrative tasks. Max worked out of the Middle East and his wife Grace ran the family home on the Gold Coast and took care of their three children. Getting his Will settled had been on his mind but just never taken priority. Max knew he needed to get something in place and when one of our newsletters arrived in his inbox with a Will reminder, he took a few moments to email me.
Our first consult was done on a three way Zoom link with Max in the Middle East, Grace from the Gold Coast and myself. We quickly discovered that this couple would be leaving a significant asset pool to their children and discussing the tax advantages and asset protection benefits of a Testamentary Discretionary Trust, the couple decided these arrangements would better suit their needs.
The instructions were taken remotely and the documents were prepared and drafts sent for review with a follow up call. Once the drafts were perfected , they were printed and ready for Max’s next break back home. The Will’s were signed at home with two witnesses and the Power of Attorney documents also executed remotely via video conference.
The couple now have Testamentary Trusts ready to secure asset protection and tax advantages for their children. In the event one partner passes away, the Trust will have the potential to provide $88,000 income per year tax free for the surviving spouse and children. This would amount to a saving of $20,000 per year every year. If you would like to learn more about the advantages of a Testamentary Discretionary Trust instead of a standard bread and butter Will, please feel free to book a complimentary, no obligation discovery call. You won’t regret it!
When you have been putting something off for awhile, the hardest part is getting started. So we have built a new Will client portal to make this part as easy as possible. In 10-15 minutes you will be on your way to securing your legacy for your loved ones. Feel free to try our Wills Assessment link today.
Our forte is not just the legal specs but the practical strategies of helping you to get it done.
