Thorough estate planning involves putting in place strategies that address all aspects of your situation.
Often, we assume this simply involves making it clear in a Will who we would like to inherit assets if we pass away. However, while a Will can help ensure your estate is distributed according to your wishes, it may not be effective in dealing with a significant portion of your wealth. For example, the proceeds from superannuation funds, companies, family Trusts & life insurance policies don’t automatically form part of your estate, (which can be a good & bad thing) which means that addressing these investments in your Will may be ineffective unless you take some important additional steps.
A well-prepared and executed estate plan can ensure the right assets go to the right people at the right time, in an efficient and tax-effective manner. It can also ensure that if you’re unable to make important financial and lifestyle decisions for yourself, the right person is able to step in on your behalf.
You and your adviser can then work with appropriate legal professionals (where necessary) to implement the strategies that best meet your needs based on your key desires.
Both Stacy Barnes and SuperInsight Pty Ltd ATF Barnes FT T/A NextGen Advisory are Authorised Representatives of AVALONfs Pty Ltd AFSL 437518