Estate Planning Brisbane Do you have a Will with all of your current investments included and accounted for? As you move through your life, it’s natural that you will make investments and acquire assets, and at every stage it is vital that you have an estate plan in place. An estate plan is an overarching legal framework that ensures that your financial and care wishes are taken care of in the event that you die or are unable to make decisions for yourself in the future.
Is having a Will enough? While having a valid Will is a vital part of your financial estate planning, it is only one part of your overall plan. You also need to formalise your wishes on your care and who will be responsible for making decisions on your behalf. We can work with you to ensure that no matter what, your financial and personal wishes will be respected.
What is needed in my estate plan?
The first thing you will need to do is establish a valid Will. A Will dictates how you wish your financial and personal assets to be distributed and will include any bequests to charitable organisations and any funds to be held on trust for certain persons. You may also need to:
- Establish someone to act as your Power of Attorney (POA). This is a person who will manage your personal and financial affairs and will make decisions on your behalf. The power you grant to your POA can vary depending on how much you would like them to be able to do on your behalf.
- Dictate your medical care wishes, including any treatments you wish to have the right to refuse and to receive.
- Appoint a legal guardian for your children. This will be a person who will care for them if you die before they are 18 years of age.
- Appoint someone who will receive the benefit of your superannuation
- Establish a trust and appoint a trustee for your beneficiaries
Do I need an estate plan?
Do you have assets and a family? If you do, you’ll need an estate plan. Given that family structures are becoming more complex, financial estate planning has become even more important in today’s society and often can involve more than a simple will. Due to its potential complexity it is recommended that you seek professional estate planning advice to assist you with implementation once you have considered your options. Discover what is right for you with regard to:
- Powers of attorney
- Testamentary trusts
- Taxation implications
- Estate planning for superannuation
Estate planning is sometimes overlooked but has a huge impact on those you leave behind. Make sure your loved ones receive your legacy in the way intended with help from a trusted Brisbane estate planning advisor from FinPro Group.
How can FinPro help?
We are wealth planning and financial management experts who work with people in Brisbane and across Australia to ensure that their assets are protected, and their wishes are respected. Transferring wealth to the next generation can be fraught if not completed correctly and if tax is not minimised wherever possible. We develop a strategy to manage your assets after you die and through appropriate legal instruments and structures, such as a Will. Financial estate planning ensures peace of mind by making sure that the investments you make now are passed on to your family or beneficiaries in the most effective way. Developing an effective estate plan will ensure that:
- Any tax payable is minimised
- The ownership of assets pass to the intended beneficiaries
- Assets are protected if any beneficiary has any legal issues
Turn to FinPro Group for Estate Planning Advice in Brisbane
Contact us today for a confidential discussion about your assets and to arrange your estate plan. Don’t run the risk of legal complications and excess taxation for your loved ones after your death – get it organised today. Ready to speak with an estate planning advisor in Brisbane? Call us now on 1300 943 454 to arrange your complimentary consultation.