Estate Planning

Ensure the wealth you have built is distributed to your beneficiaries smoothly, tax effectively and most importantly, according to your wishes.

The death of a family member is a traumatic experience. The last thing your loved ones need is to deal with a tangled mess of assets and legal structures with no clear idea of your intentions, and the value of your estate being eroded through costly litigation between competing interests. If someone dies without a valid will, this is called ‘dying intestate’, and their assets are distributed according to the inheritance laws of the states and territories of Australia.

When was the last time you reviewed your will? Things you need to consider to ensure your Estate Plan is up-to-date:

 Set up your will
 Having an ownership structure of your assets
 Enduring Powers of Attorney – medical, financial and personal matters
 Deeds of guardianship
 Testamentary/family trusts
 Binding Death Benefit Nominations
 Treatment of your Superannuation upon death

Estate Planning For Individuals

Having an Estate Plan ensures the wealth you have built is distributed to your beneficiaries smoothly, tax effectively and most importantly, according to your wishes. Have you considered:

1. What happens if you or your spouse suddenly pass away?
2. What do you want for your children? What do your children want for themselves (and should they be allowed to decide?!)?
3. What assets do you hold and how do you hold them (including superannuation funds, family trusts, overseas assets)? Will these change?
4. What is the likelihood of claims on your estate / dissolution of family relationships generally (ie. current or potential ‘ex-in-laws’? What about your child’s relationships?
5. Communication between family members – who is involved and who isn’t?

Succession Planning for Business Owners

Succession Planning is often overlooked by business owners. In the unfortunate event that you are no longer capable of operating your business due to death or incapacity, what happens next? Have you considered:

1. That your business has appropriate insurance if you become ill for an extended period?
2. Will the business be kept, sold or liquidated upon your death?
3. Who has control of your business if you die?
4. Is your business structure flexible enough to allow tax effective change of ownership?
5. Is there a pre-determined price for your business partners to purchase your ownership interest?
6. Do you have a tax strategy in the event of the sale of your business?
7. Do you have an effective business succession plan with a funding solution?
8. Do you have confidence in your family to continue to run the business if you were permanently incapacitated?

Book A Complimentary Meeting

If you would like to protect your estate, and ensure your assets end up with your intended beneficiaries, please contact us for more information or book your estate planning complimentary meeting.

  • Monday to Friday 9am to 5pm Early morning or late night appointments available on request
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