After working so hard to generate your wealth, you need to ensure you have an appropriate strategy in place to transfer your wealth to future generations and establish a legacy for your lifetime of work.

 

We work with you and your estate planning professionals (including your solicitor) to develop an effective strategy to transfer your wealth to your preferred beneficiaries.

 

Common Estate Planning documents include:

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• Will - the legal document enabling you direct who will receive a benefit from your estate after your death.  This document requires regular review to ensure it is updated as your circumstances change.

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• Power of Attorney is the document that allows another person to act on your behalf.  Acting as an attorney is an important role and as such, it is important to determine who is best placed to take on this role for you.

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• Binding Death Benefit Nominations - these documents are important as generally your superannuation does not form part of your estate and is not distributed via your Will.  Implementing an effective death benefit nomination within your superannuation allows you to direct your superannuation trustee where your superannuation benefit is to be paid.

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• Testamentary Trusts are documented within your Will and can be effective in both effective tax management for minors and controlling the distribution of funds after your death.

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• Succession or Buy/Sell Agreements are effectively a Will for your business and are utilised to ensure the smooth transition of your business in the event of retirement, bankruptcy, long-term disablement and death.

 

If you do not have an existing solicitor, our team works with several reputable and experienced estate planning practitioners to assist in developing and implementing an effective estate planning solution.