People often think that making a Will is all they have to do in ‘getting their affairs in order’ but often they have not considered a proper overall estate plan which will ensure that all of their assets end up in the right hands. A proper estate plan looks at your circumstances and assets holistically rather than just making a Will.
Did you know that it is possible that all of these assets can fall outside of your estate if you die? Your family investments could be controlled by an unintended person and not remain for the benefit of the beneficiaries in your Will.
It is becoming increasingly common that businesses are operated through companies or family trusts, people hold property investments in family trust, and we are seeing the popularity of self-managed superannuation funds. It is imperative to consider all of your assets and in which entities they are held in doing a proper Estate Plan.
Our estate planning lawyers can look into your structure, including your trust deeds, overseas assets, your life insurance policies and your superannuation, and provide you with an estate plan rather than just a Will. It is sometimes the case that allocation of your assets prior to your death can ‘shore up’ your wishes.