This article discusses why it is important not to ignore estate planning and provides a checklist to help get your estate planning on track.
Don’t have a Will? You’re in good company. Less than half of Australian adults do. Even then, many Wills are out of date or invalid. The upshot is that hard-earned wealth may be fought over by family or distributed by government formula, and not end up with the preferred beneficiaries.
It’s also important to remember that Wills are just one component of estate planning, so here’s a quick checklist to help you get your estate planning on the right track.
Depending on business and financial structures, family dynamics, pension rules, and legal requirements, estate planning can be complex. Your financial adviser can help you identify the estate planning issues you need to address, and the professionals you may need to consult, to ensure your assets are distributed according to your wishes and to provide the best outcome for your beneficiaries.
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