Estate Planning in SA: Handling Your Problem Child

An increasing number of Baby Boomer parents are concerned about leaving unconditional bequests in their Wills to their grown-up children, for fear that they will squander their inheritance.

As parents we love our children and want them to receive the benefit from our hard work after we’re gone.

However, some kids just seem to attract hard luck and trouble, don’t they? They can be immature, have difficulty holding a job, or are just poor money managers. Some develop a bad and expensive habit, like gambling, drugs or alcohol, while others suffer mental illness.

Then there are the risky-business kids, who constantly fear the door-knock from the bailiffs because they run their businesses on the knife-edge of bankruptcy and litigation.

Also, many parents are concerned about their child’s choice of spouse. Gold diggers of both sexes abound, particularly in these difficult economic times, and a high percentage of all marriages end in divorce. None of us wants our hard-earned assets to end up leaving the blood-line, and going to the ex-spouse of our child in a divorce and property settlement.

And it isn’t just marriage that can lead to “sexually-transmitted debt”. In South Australia, any two people (of any combination of gender) can begin to acquire property rights in each other’s assets after as little as 3 years’ cohabitation.

Just as frequently Boomers just want to make sure that the money will still be there for their kids, despite the kids’ flaws and shortcomings.

It’s a very good idea to explore your estate planning options, by contacting a specialist lawyer who is experienced in estate planning in South Australia.

Founded in 1848, Genders & Partners is the oldest law firm in South Australia. We choose to specialise in just a few areas of law closest to most families, so that we can provide the legal services that matter most to you.

Our experienced estate planning team can discuss many estate planning tools and techniques including:

❖ encouraging (and even paying for) children to sign prenuptial agreements;

❖ creation of protective trusts;

❖ titling of assets for joint ownership;

❖ consideration of insurance options.

Choosing the right estate planning lawyers can make a huge difference in ensuring proper distribution of your assets after death, minimising or avoiding any legal issues that may arise, and protecting your hard-earned assets.

Most importantly, it helps save your family all the trouble, as well as thousands of dollars in legal fees and taxes, after your death.

Genders and Partners can help you to protect yourself, your family and your assets. Let us assist you with Estate Planning in Adelaide metro area and all over South Australia, for your family’s future.

Call Us Now To Arrange A FREE

Telephone Consultation At No Obligation

(08) 8212 7233

COPYRIGHT 2015. GENDERS AND PARTNERS. ALL RIGHTS RESERVED

Suite V1, Level 3, 169 Fullarton Road,Dulwich, South Australia 5065

www.Genders.com.au

we are located at

book appointment online at