Estate planning

It will undoubtedly be a difficult time for your family and loved ones when you die. However, with sound estate planning, you can ease their burden by ensuring that your affairs are managed by someone you trust, your assets are transferred according to your wishes, and any tax liabilities are minimised.

The first and most fundamental step in estate planning is to consider making a valid will. Your will sets out who you want to administer your estate (the executor) and how you wish your assets to be distributed. If you die without a will and are deemed ‘intestate', your estate could be distributed according to the relevant state legislation. This may result in a distribution that is different from your wishes, add considerably to the time and cost involved, and open up the possibility of a legal challenge.

Another important element of estate planning is to think about having a current power of attorney in place. A power of attorney allows you to nominate a trusted family member or friend to make decisions and act on your behalf. 

If you have a large, financially complex asset base, your estate planning needs may also include establishing some form of testamentary trust or asset management structure to help ensure your assets are passed on smoothly and tax-effectively. 

Your superannuation is not automatically included in your will as part of your estate or assets, so it is important that you consider completing a valid and appropriate death benefit nomination that will direct your super fund on how to deal with your superannuation.

As you might expect, estate planning involves legal as well as financial specialists. While a solicitor can take care of the legal aspects of your will, we can look at your total financial picture and help you with a broad range of issues such as funding and protecting your estate and minimising tax.

To find out how we can help you with estate planning, call 07 3831 7629 or email us.

Social security/Centrelink

When planning for your financial future, it is important to find out if you qualify for any of the government benefits available to individuals and families. These include (but are not limited to) the Age Pension, Mature Age Allowance, Family Tax Benefit, Parenting Payment and Disability Support Pension. There is also a range of benefits for service veterans.

As well as the Age Pension, retirees may be eligible for benefits including the Health Care Card, Commonwealth Seniors Health Care Card, Pensioner Concession Card and the Pharmaceutical Allowance. Eligibility criteria apply to each benefit. These criteria can be quite complex and can change over time. 

The Age Pension can be an important element of some people’s retirement income. We can help you structure your investments and assets to maximise your chances of qualifying for a pension. We’ll review your situation and look at your assets, including property, investments and superannuation savings, and assess how these could affect your social security entitlements.

To find out how we can help you maximise your social security entitlements, call 07 3831 7629 or email us. 

Aged Care

It is undoubtedly a very emotional and difficult decision to help a loved one enter an aged care facility.  However, what most people aren’t prepared for are the financial complexities that go hand in hand with this.  For example, the questions invariably that people have to grapple with include: how will my Centrelink entitlements be affected, what should we do with the family home, how much will seeking care cost me and, most importantly, how will we be able to afford it?

In response to many of our clients struggling with the financial complexities of aged care, we now offer comprehensive aged care financial advice to help support you when you need it the most.  This will help you make the right decision for your loved ones with confidence and clarity, and ensure that your best endeavors are also the most financially prudent ones.

To find out how we can help you with aged care advice, call 07 3831 7629 or email us.