Preserving Your Wealth Estate Planning


Have you put a good plan in place to protect your wealth so it can be passed down to future generations?

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Studies have revealed that over half of Australians do not currently have a will and more than half of parents have not discussed their will and legacy with their children.

The picture of wealth looks very different to modern day Australians compared to how it appeared 20-30 years ago. Rising cost of living, slow wage growth, a volatile property market, rise of technology, cheap labor from neighboring countries that threaten jobs are some of the contributory factors.

In particular, past generations made their fortunes by digging resources out of the ground, then on the sheep's back. However, it is unclear where our future fortunes will come from next.

A report from Perpetual has estimated that 70% of families will lose their wealth by the second generation and 90% will lose it by the third.

To counteract these risks, it is important to discuss wills and inheritance so that all parties can be prepared and have a plan in place.

OUR STRATEGIC SOLUTION

If you want to preserve your wealth so it can be passed down to your loved ones, we are here to help you do just that.

We use a tiered system that will allow you to choose our different levels of services whatever one suits your needs.

Achieve WEALTH PROTECTION

We are here to help you plan and protect your wealth in case of death, incapacity, divorce and insolvency.

The plan involves more than just a will. It includes succession of entities you may control such as businesses and assets and passing the control to certain family members to the exclusion of others.

It is also not limited to death. It deals with transfer of control of assets and decision making powers when you lose capacity.

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YOUR INVESTMENT

Covers you in case of incapacity and death

“WHAT IF I DON'T HAVE A WILL?”

If you die without a will, it is said that you have died 'intestate'.

Intestacy laws vary significantly between jurisdictions There will be undesired consequences such as difficulties in locating and identifying various next of kin, and or in establishing the exact time span over which a non-marital relationship existed. This often leads to problems and disputes.

“WHAT IF I USE WILL KITS TO SAVE MONEY?”

Will kits can be bought from many newsagents and post office outlets. They pose several problems:

There is no legal advice provided in the will kit. For example, do you know the relationship between your will and your superannuation. It is difficult to include tailored advice in standardised kits.

You may make mistakes in expressing your final wishes. As a result, there can be significant costs incurred by the estate to rectify the mistakes.

You will be left to arrange the execution of your will. Sometimes this is not done correctly resulting in additional costs.

“WHAT IF I AM DON'T HAVE ASSETS?”

It is important for you to consult a lawyer regardless. A big picture of your situation will capture details like:

Assets and potential assets
Family members
Superannuation and other non-estate assets
Intended beneficiaries
Burial and or other wishes

—Please refer to our first what-if question wherein we discuss situation where you die without a will.

Still unsure what to do?

LET'S CHAT! We offer 30-min free consultation to help you decide.

As a result of working with me, you will get:

  • Clarity at every step of the process
  • Peace of mind as to the outcome and predictability of the fees involved
  • Protection and relief
  • Satisfaction of the entire process
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YOU MUST ACT NOW TO ACHIEVE CERTAINTY IN UNCERTAIN TIMES.