What we do

Estate Planning

Estate Planning is about putting the right foundations in place to make sure your assets are distributed the way you want. To achieve this in a tax-effective way involves much more than just a simple Will.

Although having a valid Will is important, an estate plan covers aspects that relate to the transfer of your assets after you pass away. An estate plan manages:

  • family and testamentary trusts
  • powers of attorney and the guardianship
  • optimising tax implications for beneficiaries. 

Estate Plans can help your beneficiaries avoid difficulties and disagreements that may arise when discussing your assets and ensure that those closest to you are financially secure.

Steps to assist with Estate Planning:

  1. Decide whom you want to benefit and how regarding your distribution of wealth.
  2. Sit down with your advisor to discuss strategies to optimise your estate.
  3. Have a lawyer draft and execute a Will and keep it up to date.
  4. Set up a Death Benefit Nomination for your super.
  5. Nominate a beneficiary for your life insurance outside super.
  6. Understand the tax consequences of how your assets are distributed.
  7. Appoint and Enduring Power of Attorney (PoA), financial and medical Enduring Power of Guardianship (EPG).

A great resource for PoA and EPG’s is the Public Advocate for Western Australia can be accessed here.

General Advice Warning: Any advice provided on this site is of a general nature only, you should consider whether it is appropriate for your personal objectives, financial situation and needs prior to acting on this information.

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