Are Will and Estate Planning the same thing?

Will is an essential component when it comes to estate planning and for that hiring experienced wills estate lawyers can be very fruitful. The will plays a vital role when it comes to estate planning as nothing can be achieved without it.

Estate planning is a regular process where you have to keep your estate safe and enhance its value so on the time of transfer the beneficiaries can get maximum benefit. People who participate in making estate planning valuations are financial advisors, brokers and other planning parties.  The will is prepared in accordance to that. Various ways where estate and will planning are necessary and how they differ is stated below.

Keeping estate separate

When you get married, your spouse and your’s estate need to be separated with the help of antenuptial contract  where the role of family lawyers in Brisbane comes. They would help in separating your assets from your spouse so you can protect your estate in case your spouse’s creditors form a legal case and ask for liquidating the assets. In case of divorce, the estate separated well in advance will keep you and your spouse secured.

Disability

Disability is another case where the will plays a vital role. If you own a large estate and because of disability you would like to nominate someone to take care of you and your estate then preparing a will is necessary here. The will and estate lawyers will help you secure probate and non probate assets until your death. They would collect life insurance proceeds, who would deal with financial statements on your behalf, etc.

A premarital agreement can protect a persons’ assets  that she/he acquired before the marriage. This agreement can be used when they decided to separate.

Hire the best person to help contesting a will for you.