Estate Planning2021-08-13T04:25:46+00:00

Plan now for your legacy

Estate planning protects you, your loved ones and assets, and is relevant at every stage of life. It’s about leaving a legacy that will keep your loved ones secure in their future and ensuring your wishes are carried out in the way you intended.

It can be difficult to think about end of life or being incapacitated, but estate planning is not about your mortality – it’s about protecting what you worked and sacrificed for – your legacy.

Documenting your wishes now, means leaving less to chance once you are gone. It also ensures that your loved ones are not left to deal with unintended tax or legal difficulties.

A will is not an estate plan, it’s only one part of an effective estate plan. Your estate plan will also include considerations such as powers of attorney, advanced care directives, testamentary wishes and guardianship of any children.

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Did you know?
  • Australia is currently experiencing the largest intergenerational wealth transfer in history with 3.9 trillion dollars expected to be inherited over the next two decades. And this is expected to grow at around 7% per annum.
  • More than 2 out of 3 Australians fail to adequately prepare for changes or milestone events in their life and, of those who do have an estate plan, 23% are outdated and do not accurately reflect the current wishes / circumstances of the client.
  • As a direct result of not having a plan in place, 90% of the current wealth being transferred is forecast to be lost within the next two generations.

Source: Vanguard 2021. Perpetual December 2019.

Protecting your loved ones

Why an Estate Plan?

Your Estate Plan creates a framework for dealing with your assets. . This can include bequests to family members or friends, or support for organisations you value. If you do not have an estate plan in place, your assets are managed by the intestacy laws of your state – they do not automatically go to your current partner or children.

What information is included?

Any and all assets can be included in an Estate Plan – this can include obvious items such as a home or monetary savings, but can also include items such as household furniture, vehicles, jewellery or artworks etc… Note: superannuation and any insurance proceeds are not included by default as part of your estate and need to be itemised separately. Our specialist estate planning lawyers are here to ensure you are protected.

How soon should I start planning?

Estate Planning is a topic that should be discussed and actioned at every stage of life. While many wait until they are older and closer to retirement, this does not allow for uncertainties and the unpredictable chaos of life. Whenever your circumstances change, your estate plan should be updated to reflect the new situation. Changing circumstances could include getting married (or divorced), having children or acquiring assets etc…

How we can help

Most people struggle with where and how to start with Estate Planning. It can be quite confronting to have to think about your mortality but that’s where we come in. We harness the power of Yodal, our Estate Planning partner, to deliver a simple, streamlined and timely service that makes the process of protecting your legacy and your loved ones cost-effective and efficient.

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Step by Step

1. Register and get started2021-08-04T23:15:17+00:00

Once you have completed your needs assessment, you will be sent a recommendations report via email. This report is completely free.

2. Review call2021-08-04T23:15:41+00:00

You’ll receive a review call from one of our advocates to map your current circumstances and to discuss your needs.

3. Recommendations2021-08-04T23:16:07+00:00

Once we have agreement on the recommendations and we clearly understand your wishes, you will be provided with a fixed-fee quote (inclusive of legal fees) for the estate plan to be drawn up and notarised. Payment options are available, including deferred payment (small set up fee applies).

4. Collect information2021-08-04T23:16:29+00:00

We may require additional documentation or details from you to ensure your estate plan is accurate and legally binding. We will work with you to co-ordinate whatever is required.

5. Legal Review2021-08-04T23:16:47+00:00

Once your wishes and relevant documents have been collated, your estate plan is sent to our legal partners for review. Once reviewed, you will be contacted by a lawyer to complete your estate planning documents.

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