Estate planning

Planning your financial future doesn't end with super.

Why do I need an estate plan?

An estate plan provides you with peace of mind and helps avoid potential complications for your beneficiaries.

A good estate plan can:

  • ensure the ownership and control of your assets passes to your intended beneficiaries and in the right proportions
  • minimise the tax impact on your estate and beneficiaries
  • ensure your estate is administered in a cost-efficient and timely manner
  • protect assets if a beneficiary is involved in any legal difficulties (e.g. bankruptcy or divorce) or under a legal disability.

Key documents of an estate plan can include:

  • a Will
  • super death nominations
  • testamentary trust
  • powers of attorney
  • power of guardianship
  • anticipatory direction.

Review regularly

Once you’ve created an estate plan, you should continue to review it on a regular basis, particularly when an important life event occurs:

  • getting married
  • getting divorced
  • the birth of a child
  • the death of a relative you’ve provided for
  • starting work
  • changing jobs
  • retiring.

Each of these events can be life-changing for you and for your family and should prompt you to think about your estate planning needs and objectives. Estate planning is an important part of your overall financial plan and shouldn’t be left until it’s too late.