You’re not “too young” to have this discussion with an adviser


Do you have a plan in place that will minimise your costs and maximise your legacy? If you’re interested in planning for the future – but confused about what estate planning actually means, this is for you. And no, you’re not too young to read this article… so keep going...

Estate planning – what you need to know
At a time when the world seems a little crazy, it feels good to know that there are still some areas of our lives where we can take control. Estate planning might not be quite as much fun as an overseas trip or heading out with friends, but investing just a little time and energy on this issue today will go a long way towards protecting your assets and family for the future. 

What exactly is estate planning?
Estate planning is a bit of a grand title, but it simply means a series of decisions and a set of legal documents that get your wealth and affairs into an official order for distribution when necessary. These documents can be varied, and they often include a will, financial planning details, life insurance, power of attorney and funeral wishes. Estate planning is there not only to protect your family and loved ones in the long term, but also to save you money, shielding you from unnecessary taxation, Estate planning means that the wealth you have worked so hard to create is shared exactly as you would wish.

Why is it important?
We spend our lifetimes planning how best to support our families – and this is one of the most sensible and impactful ways to do that. Safeguarding your assets will protect the people you love because it ensures that the maximum possible value of your estate is passed on. Using tax efficient strategies, your Wealth Market adviser will ensure you avoid unnecessary taxes,  fees and charges – which means more of your money stays exactly where you want it. An appointed executor ensures a seamless transfer of assets giving you confidence and peace of mind, knowing that you have done everything you can to avert any potential conflict. 

I have a will – isn’t that enough?
If you already have an up to date will in place, well done - that’s a good start and it will go some way towards protecting your estate and family. In addition to this, there are a number of essential items that need to be taken into consideration from assets and liabilities through to superannuation, insurances and retirement plans. Without an effective estate plan in place, the law gets to decide the allocation of your assets – and that is rarely a cash efficient process. However, a will only forms one part of the estate planning structure, it will organise your assets according to your individual wishes, there are several other aspects to consider and your Wealth Market adviser can help get you set up for a holistic estate plan.

It’s not a set-and forget scenario
Your Wealth Market advisor will conduct regular reviews on your estate plan because a whole range of movements in your life (births, deaths, divorces and marriages) and in the law can influence your estate plan. Did you know a divorce may invalidate your current will?


Get in touch with a Wealth Market adviser to get your estate planning in order.