Estate Planning
Your estate may not automatically pass to a spouse or family on your death
A critical element of the financial planning process is to ensure that the assets you accumulate throughout your lifetime are distributed in accordance with your wishes upon your death.
A common misconception is that an estate will automatically pass to a spouse or family on death. Without an appropriate record of how you intend to distribute your assets, there is the risk that intended beneficiaries, may receive little, or none, of your estate. The following assets, which can be of substantial monetary value, may not necessarily form part of your estate:
- The family home (if owned as tenants in common).
- An individual’s superannuation entitlement (e.g. a person’s death benefit).
- The proceeds of life insurance policies (depending on ownership).
Estate planning is a complex area and appropriate professional advice should be obtained before making any decisions in this area. EFS can assist you with your estate planning process and give you the best possible structure to help protect your assets and, subsequently, your estate. Finding an experienced estate planning lawyer can also help you to complete this process.
Call us today on (02) 9266 2269, Ask a Question or Make an Appointment with one of our experienced financial advisers. Our First Meeting is Cost and Obligation Free.
