Self-Managed Super Fund (SMSF) Self-Managed Super Funds (SMSF) are set up to provide for your retirement and can offer a number of benefits, including flexibility, when it comes to investment options. SMSF allows you to convert your super to an income stream when you retire and can provide you with lower income tax. Owning a SMSF is different to being a member of an Institutional Super Fund in that you are the Trustee, and are responsible for complying with super and taxation laws. Our experienced law team at Kelly Legal can provide professional advice when it comes to SMSFs and can explain what is required so you can decide if it is the right path for you. Asset Protection Asset protection is an important piece of the puzzle when it comes to your Estate Planning so that your hard-earned assets are safe guarded for you and your loved ones. Regardless of your situation, the team at Kelly Legal can assist you by providing straight-forward advice to ensure structures are in place to protect your personal, business and investment assets. As part of the Asset Protection process, Kelly Legal will work out what assets you wish to protect, who owns the assets, identify any potential risks to assets (including investment assets) and putting a strategy in place to protect them. Call the Kelly Legal team on 4911 0500 for more information.

Challenging a Will Sometimes there are situations where a Will may need to be challenged. There may be a question over whether the deceased was sound of mind when making the Will, or perhaps a family member feels they haven’t been adequately provided for under the Will. It is important to note that Wills can only be challenged by ‘eligible persons’. This includes: Former spouses of the deceased; Adopted or step-children of the deceased; A parent of the deceased’s children; The deceased’s parents, grandchildren or any other person wholly or substantially maintained by them prior to your death. Depending on the reason for Challenging a Will, it may be necessary for the Courts to determine the validity of the Will. Alternatively, if you’re challenging what’s been provided for you, then an application for further and better provision from the Estate will need to be made. This is known as a Family Provision Application. Challenging a Will can feel like an intimidating process, and there is never a ‘one size fits all’ approach. You can put your trust in the team at Kelly Legal to give you invaluable advice and solutions for a way forward. Defending a Will Executors may find themselves involved in defending a Will, if certain family members or beneficiaries feel they were not adequately provided for or would like to argue the validity of the Will. In these situations, we advise you seek assistance as soon as possible to avoid lengthy disputes. If the Will is found to be invalid, the Will made previous to the final one, will be looked at. If that Will is found to be valid, probate will be granted to the executor of the valid Will to administer the Estate and distribute assets. Our experienced lawyers can guide you through the process to ensure the right settlement occurs. Contact the Kelly Legal team on 4911 0500. Estate Litigation When a loved one dies, it can be difficult for those left behind and emotions can run high causing disputes between family when it comes time to distribute the Estate. Whether you are appointed an Executor, trustee of the Will or are having complications with family or nominated beneficiaries, receiving the correct legal advice is extremely important for the right outcome. The team at Kelly Legal are your friendly, professional experts in all things Estate Litigation, whether it be challenging or defending a Will, ensuring assets are protected or acting on your behalf to resolve disputes.

Deceased Estate and Trust Administration Deceased Estate and Trust Administration ensures a person’s Estate is managed effectively and in accordance with their wishes. It involves gathering the assets of the Estate, paying any liabilities and distributing the remainder to the beneficiaries listed in the Will. Administering a deceased estate and any trusts that form part of it, can be stressful and complex for executors to the estate, as well as its beneficiaries, particularly if it involves disputes or litigation. The friendly team at Kelly Legal can ease any pressure when it comes to Deceased Estates and Trust Administration and guide you through your legal obligations.

Appointing a Power of Attorney Appointing someone to take control of your affairs is an important decision to make and the team at Kelly Legal are here to help you make the best choice for all involved. A Power of Attorney (POA) is a document which gives the person/s of your choice the legal right to act in your place and make important personal or financial decisions on your behalf. There are two types of POA. General Power of Attorney is used while you can still make your own decisions and becomes void once you lose the capacity. It’s commonly used when travelling overseas for a long period of time and you require your assets to be managed. Enduring Power of Attorney means your assets are not locked up if you lack the legal capacity or soundness of mind to sign documents or make other decisions regarding your assets. It continues to be valid even if you become unable to make your own decisions. You can nominate for a Power of Attorney to start straight away, or at a time/date or occasion in which you nominate i.e. you’ve lost the capacity to make decisions. Anyone over 18 years of age can be appointed and you can choose the level of decision-making power and financial access that they have. How is it different to a Will? A Power of Attorney enables you to appoint someone to manage your affairs on your behalf while you are still alive. A Will distributes your assets as per your wishes after your death. Choosing a POA is an important decision and you should be able to trust the person you appoint. Our experienced team can provide advice for your particular situation. A Will gives you security in making sure your wishes are carried out. It’s important to change your Will if your circumstances change. This could include getting married, divorced, having children, losing a spouse through death or having significant changes to your financial status. Appointing someone to take control of your affairs is an important decision to make and the team at Kelly Legal are here to help you make the best choice for all involved. A Power of Attorney (POA) is a document which gives the person/s of your choice the legal right to act in your place and make important personal or financial decisions on your behalf. There are two types of POA. General Power of Attorney is used while you can still make your own decisions and becomes void once you lose the capacity. It’s commonly used when travelling overseas for a long period of time and you require your assets to be managed. Enduring Power of Attorney means your assets are not locked up if you lack the legal capacity or soundness of mind to sign documents or make other decisions regarding your assets. It continues to be valid even if you become unable to make your own decisions. You can nominate for a Power of Attorney to start straight away, or at a time/date or occasion in which you nominate i.e. you’ve lost the capacity to make decisions. Anyone over 18 years of age can be appointed and you can choose the level of decision-making power and financial access that they have. How is it different to a Will? A Power of Attorney enables you to appoint someone to manage your affairs on your behalf while you are still alive. A Will distributes your assets as per your wishes after your death. Choosing a POA is an important decision and you should be able to trust the person you appoint. Our experienced team can provide advice for your particular situation. Establishing Advanced Health Directives Many people choose to communicate their wishes about health care, medical treatment or end-of-life decisions via an Advanced Health Directive. This document allows you to appoint a guardian to make important decisions about your health and welfare if you lose the ability to do so. It can indicate if you consent to, or withhold from medical treatment, pain management and to what degree, whether you consent to intervention to keep you alive and any other health-related wishes you may have. It can be as specific or general as you want but the purpose is to ensure your decisions are communicated and played out the way you envisage during critical times. It’s important to regularly review your Advanced Health Directive in case your circumstances change. A Will gives you security in making sure your wishes are carried out. It’s important to change your Will if your circumstances change. This could include getting married, divorced, having children, losing a spouse through death or having significant changes to your financial status. Testamentary Trusts can be written into your Will so that a trustee looks after your assets until your beneficiaries can access them. An example could be until your children reach a certain age or a goal (i.e gets married or earns a qualification).