Assets Distribution: From Planning, Structure, Protection, and Tax Advantages
Navigating the complexities of how you want to be taken care of while you’re still living, and going about how your assets and belongings will be distributed after death may look daunting at first glance. With the right professional and legal assistance, however, the whole experience can be seamless and organised.
Appointing an Enduring Power of Attorney and any Superannuation Considerations
When there's a Will..there's peace of mind
A Will is a legal written document that sets out how a person wants their assets (their Estate) distributed after their death.
It is important you receive professional and legal assistance, and start putting plans in place for your Estate. You can start making your Will as soon as you turn 18. Doing so at an early age can give you peace of mind and to your family and friends when you pass away, as well as preventing them from unnecessary heartache and unintended consequences.
In other words, structuring your personal and financial affairs (estate planning) while you can gives you a guarantee of how you wanted to be taken care of while you are still alive. Your assets and belongings will also be distributed according to how you want it to be when you pass away.
Make estate planning work to your advantage
An effective Estate Planning should give you an opportunity to:
- Make plans for a smooth transition of your company’s interest.
- Protect your family member’s vulnerability
- To preserve your assets while gaining tax advantages (by considering trusts or other arrangements)
- Appoint or nominate someone to act on your behalf if you are unable to make decisions
- Decide if you want your assets such as superannuation and insurance to be included in your estate.