Estate Planning

Estate planning is the process of reviewing your assets and creating a plan to determine how these will be treated after you die.

Creating a will effectively documents how you would like your assets distributed after your death. In the absence of a will, the process can become costly, lengthy and state-based legislation will be used to determine how the assets will be split. Wills are effective for simple estate planning, however, for complex estates, you should look at other methods of determining how the estate will be managed and distributed.

 

Key points for estate planning:

  • Grant an enduring power of attorney to make decisions impacting your affairs if you were incapable of making them yourself
  • Select an executor to distribute your assets after your death. Ensure they are willing to be the executor and nominate a backup executor in case they die before you or change their mind
  • Give guardianship to someone to make decisions regarding your medical care and living situation
  • Provided you have a valid nomination, your super and insurance is usually paid to your beneficiaries upon notification of your death

 

A Family Trust

Family trusts, or discretionary trusts, are structures commonly used by small businesses to allocate business income effectively among beneficiaries within the family group and provide protection for the family assets.

Apart from the tax benefits associated with family trusts, they can also be beneficial in protecting assets from creditors if incapable of managing money.

The best way to ensure you are protecting your family’s future is to contact one of our financial advisers and find out how we can ensure your estate plan is in order.

What we can offer

Our professionals can provide advice on all estate planning matters to ensure you are making the right decisions regarding your assets and wellbeing. We examine your personal circumstances to determine the best fit for your will, guardian and power of attorney. Contact one of our specialists today to see how you can prepare for the future.

1

Distributing assets

Our team can help you determine if you need a simple or complex solution for distributing your assets, and the effects of each choice.

Choosing guardians

Let us make sure your children are looked after by the people you choose if you are unable to do so yourself.

j

Nominating beneficiaries

It is important that you nominate a binding, non-lapsing beneficiary for you super fund. Our team can walk you through this process.

Strategy

Sit down with one of our financial planners and come up with a plan that will work for you. Because having peace of mind is priceless.

Sign up for our quarterly newsletter

Maybe now isn’t the time for you and that’s fine. Stay in touch with us through our newsletter with handy hints and tips for planning your financial future.