“What happens when I’m gone?”
We hear many stories about families falling apart after someone passes away. Whether the fall out is caused by financial complications, or where children miss out on their inheritance because the surviving spouse remarries and their new partner takes control of the assets. The bad-case scenarios are endless.
Most people think that a Will prevents this from happening and their wishes will be carried out. Unfortunately, this isn’t always the case. Unless it’s properly structured.
Did you know that Wills only cover the assets owned in your name but don’t cover assets owned in a company, superannuation or a trust? Or that even if you appoint a person to be an Executor of your Will, they don’t have to accept the appointment when the time comes?
The right Estate Planning advice and structure brings you peace of mind because you’ll know that not only are your wishes and assets protected for those important to you after your death, but your children or grandchildren could also benefit from significant tax savings.
When considering your Estate Planning, we strongly urge you to consider all aspects of your financial affairs and recommend your Will be prepared by a suitably experienced Estate Planning lawyer.
For more pointers on Estate Planning, you can download a whitepaper. FWO can assist you with all aspects of Estate Planning, be with you at meetings with your lawyer or coordinate the process for you. Just ask us how.