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14 Price Street

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Ph:5261 2583

Have you organised your finances to pass to the right beneficiaries in a tax effective way? Call us now to find out how we can help you with estate planning on 5261 2080.

Estate Planning – Plan Ahead

Each year billions of dollars are transferred to the next generation. So it’s very important that you plan ahead to ensure your finances are structured in such a way as to minimise tax, ensure protection, and control of ownership. Anything can happen at any time – illness, mental health decline, death, accidents, remarrying, de facto relationships, business partnership breakups and sales. Not to mention family and business disputes. So you need to ensure your hard earned assets are not at risk and pass to the right people. Not all assets can be dealt with in a Will. Superannuation for example will sit outside your estate. An Adviser’s role is to ensure their clients’ wealth passes to the right beneficiaries, at the right time, in a tax effective way. They can review: • • •

How your income stream is set up; Whether you have binding nominations and if they are lapsing on non lapsing; and If you would like your superannuation to be dealt with by your will.

The key features to address when considering estate planning are: • • • • • •

Flexibility Control Access to capital Asset protection Tax effectiveness Control by and protection for beneficiaries


• The main tools to use to achieve this include: •

• • • •

Structures -Testamentary trusts -Discretionary trusts -Partnership agreements Superannuation -Reversionary Pensions -Binding death benefit nominations -Insurances General and Enduring Powers of Attorney (drafted by your lawyer) Wills (drafted by your lawyer) Executor/trustee nominations A list of wishes

As your circumstances often change over time, including the circumstances of your children (divorce, death), it is important that your Estate Plan is regularly reviewed. Working with our accountants and your lawyer - we can address all or any of these issues for you. The best time to start is now. So call us on (03) 5261 2080 to make a complimentary appointment to discuss your financial objectives. Damian McVilly, Senior Partner - Financial Advice, Crowe Horwath Torquay office Material provided is information only and should not be relied or acted upon without seeking professional advice relevant to your specific circumstances. Information is provided under licence Findex Advice Services Pty Ltd Trading as Crowe Horwath Financial Advice Pty Ltd, ABN 88 0690 684 521 AFSL 243 253

Springboard term 2 2017  

In this issue you can find out what's going on around the house, get some advice on estate planning and returning to work, try a quinoa lent...