Nothing is more devastating than the loss of a loved one. The grieving period can be a harrowing process bringing up all number of emotions, sometimes unexpectedly.
Unfortunately this grief is often compounded when a family is left trying to untangle an estate while some compete for assets because of an invalid will or poor estate planning. And if an estate includes a blended family with children from previous marriages/relationships then the complexity of probate only increases.
Estate Planning can be a very complex process, and consequently too many Australians procrastinate making any decisions, leaving their estate at great risk. Not surprisingly, 70% of Australians have an invalid will.
An estate which is intestate (no will) can create enormous difficulties. Even when a will is written, it can be contested within the first 12 months of someone passing. Therefore good estate planning is extremely important.
Suncow Wealth can help initiate the discussion you may have procrastinated having for some time to help begin planning your estate.
The following questions might provide a starting point for your estate planning needs:
- Do you have a will and when was it last updated?
- Are you still on talking terms with the executor of your estate?
- Have you considered Powers of Attorney?
- Are you part of a blended family? Therefore have you considered a Testamentary Trust to provide your estate with maximum asset protection plus tax benefits?
- If something happened to you, would anyone know where to find your will?
- Do the nominated beneficiaries in your super and the amounts bequeathed to your estate match your will?
- If you don’t have any assets or insurance policies to leave to your estate, is there a will or a document to tell those who survive you there is nothing to look for?
Suncow Wealth can help you begin your estate planning process as well as put you in contact with the right legal advisors that best match your needs. We invite you to call our office on 02-9810 8832 to make an appointment to discuss your needs.