Not sure where to start? Ask.Will™

From
Peter Townsend

Peter Townsend

Although most Australians know the importance of having a valid will, the nuances of how — and what — can be challenging. Understanding and using those nuances is what turns a simplistic will into a truly valuable and effective estate plan.

To help make the process simpler, Townsends Lawyers offers a suite of tools and resources, including the easy-to-use Ask.Will™. By answering ten basic questions online, users can get a sense of where they stand on the path to putting a plan in place that leaves them feeling prepared and confident.

Once the user has had a chance to read and think about their Ask.Will report Townsends Lawyers can break down the estate planning, depending on family situation, money, property, and superannuation as well as any business or investments and help the user determine what they want from their estate plan before moving to the drafting of the Will and other estate planning documents.

To help people get a better grasp on their estate planning, the team at Townsends Lawyers developed a suite of resources and tools, including Ask.Will™. Their focus was on simplifying the estate planning process, while inspiring and motivating people to become better prepared, and feel confident their intentions for the ones they love, will be taken care of.

So Townsends built Ask.Will™, a ten-question tool that provides a look at the important aspects to consider when you start or review your estate planning.

“Most people would say taking care of the ones they love would be at the top of their financial goals” said Mr Townsend. “But it’s very difficult for people to figure out how to start, when it comes to the process of expanding their ideas for their will into their estate plan. Ask.Will™ is primarily designed to quickly and simply answer the number one question we get from clients: ‘Where do I start?’”

Use Ask.Will™ and make your start

Despite the misconception that a one-size-fits-all will, or a DIY will, is cost effective and covers your wishes, the reality is that a poorly constructed will, that doesn’t take advantage of tax benefits, or that has overlooked superannuation and insurance, may be disadvantageous to intended beneficiaries in the long run depriving them of tax savings and inheritance protection.”

“The Ask.Will™ personalised summary is very much focused on the individual and their answers to some basic questions,” Townsend explained. “It’s based on Townsends’ expertise advising on simple things like, ‘how can I minimise the tax my beneficiaries may need to pay?’ and ‘how do I approach the needs of my ‘blended’ family – your children, and maybe a partner that is not their parent?’ Things can get a little complicated. What we do is sort out those complications for you because complicated or not, the benefits of good estate planning by someone skilled in the field can be substantial and well worth the effort.”

According to Townsend, most people feel a sense of relief once they’ve used the tool to get a view of where to start, and what to consider.

“A lot of people think, ‘Do I really want to be thinking about this?’ Then, once they’ve run through Ask.Will™ online, the feedback we get is that people do feel more prepared, knowing what they should focus on, specific to their own situation and wishes” said Townsend. “Part of that is knowing they’ve taken the first step in the process of making a legal will, one that can stand up in the eyes of the law, as part of a coherent estate plan.  Knowing that they are very intentionally, taking care of the people most important to them, leaves them feeling relieved and prepared.”

By Peter Townsend, Principal

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