Have you met Chester Macdonald our Senior Financial Planner?
September 23, 2016
The Undertaker is Not Fussy
March 19, 2016
Estate Planning is not something that many of us consider often. Why? Well there are three common reasons:
1. We aren’t planning on passing away any time soon.
2. We don’t want to think about it, or talk about it.
3. We don’t understand that Estate Planning is different to having a Will.
Unfortunately every Undertaker will tell you that the cemetery is full of people who didn’t plan on passing away, who didn’t want to talk about Estate Planning as well as those who didn’t have a formal Estate Plan in place for such occasion. Don’t let that happen to you or your family!
So what is the difference between Estate Planning and having a Will?
Well, a Will provides the instructions on how you would like your assets to be dispersed when you pass away. Estate Planning goes a few steps further and makes sure that the investments and assets you have today are passed onto your family or beneficiaries in the most effective way. Estate Planning addresses the outcomes you would like once you have passed away. For instance, Estate Planning will ensure that any tax payable is minimised, that the ownership of assets are passed to the right beneficiaries and it will also make certain that the assets remain protected if a beneficiary has any legal issues.
Most commonly we see a Husband leave his assets to his Wife and Vice Versa, so when one of them passes away all of the income ends up with one person. Let’s say this couple had three children when that happens, well with our Estate Planning the survivor will have the opportunity to generate $54,000 tax free. How you ask? Contact us today to find out – (07) 4922 4548.
I'm busy working on my blog posts. Watch this space!