Estate Planning

The main purpose of Estate Planning is to assist with the transfer and maintenance of your Estate in the most effective way.  The optimum outcomes should be achieved as simply as possible with a minimum cost. This means that the right funds are placed into the right hands at the right time.
The benefits of careful planning and the correct drafting and execution of legal documents cannot be over emphasised.  In many cases by the time you realise that a document is required for a certain purpose it can be too late to make the necessary changes.
Some factors that we believe are issues for consideration in relation to sound Estate Planning are listed below.  It is important to note that we are not practicing solicitors and as such you should seek the professional advice and assistance of a qualified solicitor in regard to your Estate Planning needs.
The main documents that will usually form your estate Plans are Wills

The following assets would not be dealt with via your Wills at this time:
• Joint tenancy assets.  These assets would transfer directly to the surviving spouse.  In the case of you both dying together.  The oldest person dies first at law.  Thus the assets would pass from the first deceased to the second deceased with via the Will of the second deceased.
• Superannuation funds.  Upon death these assets would be handled at the discretion of the trustee of the fund.  The trustee would take into account your nominated beneficiary requests stated on your Nominated Beneficiary Form when deciding upon how best to pay out the funds.  If a trustee is unable to distribute to a nominated beneficiary for some reason, it is usual for them to transfer the superannuation assets to the Estate.

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