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Estate Planning

What is Modern Estate Planning

It is structuring your affairs during your lifetime to:

  1. Limit legal claims against you and obtain taxation efficiency;
  2. Make provisions for incapacity;
  3. Pass Wealth (on death) securely to intended beneficiaries.

Beneficiaries want/need the estate to provide:

  1. Control,
  2. Flexibility,
  3. Access to lump sums,
  4. Tax efficiency,
  5. Asset protection,
  6. Cost effective and easy to administer.

Some key things that the estate planning process should achieve are:

  1. Protect your beneficiaries from losing their inheritance to family law and/or bankruptcy claims,
  2. Securely transfer your Super to beneficiaries with minimal tax,
  3. Eliminate the possibility of expensive challenges to your Will from disappointed beneficiaries,
  4. Effectively transfer control of Family trusts and other investment or business structures.

Unless your estate is reasonably simple, taxation advice, financial planning advice and appropriate legal advice should be considered.

If you have any questions in relation to your estate planning please do not hesitate to contact our us.