Estate Planning
A complete financial strategy should consider Estate Planning, which involves the transfer and protection of wealth. The goals of Estate Planning include:
- Distributing your assets in the manner that you would wish in the event of your death
- Ensuring that your assets are passed on in a tax-effective manner, so that your dependants are not left with an unexpected tax burden
- Ensuring that your assets are passed on in a timely manner
Your Pivotal Adviser can assist you by working with your solicitor to ensure that your Estate Planning goals are met. Some of the things that you may consider include:
- Wills - An up-to-date and carefully drafted Will is always a good starting point in developing your Estate Plan
- Enduring Power of Attorney - this is where you appoint a person (the "Attorney") to act on your behalf should you become incapacitated
- Binding Death Nominations (BDN) - A BDN can ensure that your super assets are passed on exactly as you would wish
- Testamentary Trusts - Where you have complex tax and asset protection issues to consider, using a Testamentary Trust can be beneficial
- Appointing a Guardian - Should you have young children who will need to be looked after in the event of your death, appointing a Guardian through your Will can be a valuable strategy
To find out more about Estate Planning, contact us