Estate planning goes beyond drafting a will – it includes:
- How they are owned and the options for ownership; The consideration of likely duties and taxes
- Advice regarding the possibility of claims against the estate by third parties
- The protection of assets;
- The effective gifting or disposal of assets before and after death.
Estate planning is also an active process of re-evaluating the estate plan when circumstances in life change, such as:
- Marriage or divorce, or changes to other family circumstances;
- A change to the family’s asset pool and how assets are owned;
- A change in working conditions such as employment, or the buying or selling of a business;
- Changes to superannuation, insurance policies or taxation levels. Detailed information and advice must be provided by a licenced financial adviser or accountant. I can refer you to relevant contacts.
If you would like us to assist you, please contact us to arrange a consultation with Phillip Laing.
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