Estate planning

What is estate planning?

Estate planning is more than just a will. An estate plan is a process of reviewing and planning for your family’s future taking into account your overall financial position and wishes and includes:

  • A will
  • Treatment of superannuation
  • Succession of control of companies and family trusts
  • Powers of attorney
  • Plan for estate administration
  • Tax and asset protection planning

At ITL Financial Planning,  we work with solicitors specialising in estate planning to ensure you have a comprehensive plan.

We help you to review, manage and control all of your estate, including your personal, family and business affairs.

We will project manage your tailored estate plan that takes into consideration:

  • Who is best placed to make decisions for you if you lose capacity?
  • What actually forms part of your estate and how are other assets passed on?
  • Who are your intended beneficiaries?
  • What is the most effective way to pass on your superannuation?
  • How can the chance of your estate being contested be minimised?
  • How can your wealth be passed on and preserved within your bloodline?
  • Is insurance required to help increase the size of your estate to look after your dependents?
  • How can tax payable by your beneficiaries on their inheritance be minimised?
  • How can you protect your beneficiaries from future marriage breakdowns, being sued or if they aren’t able to manage money well themselves?

We work with specialist Estate Planning lawyers to ensure your Estate Plan is appropriately drafted and executed. Regardless of your age, or the size and complexity of your estate, we can help you put in place a cost-effective estate plan.

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How can estate planning help you and your family?

If you become critically ill or die, your family members do not need the additional stress of having to sort out your affairs, second guess your wishes or worry about how they will be provided for.

A clear and concise estate plan will provide certainty and peace of mind by:

  • Clearly identifying which family members and loved ones will receive your property and assets after your death
  • Ensuring that your property and assets will be efficiently transferred, with as few legal hurdles as possible
  • Appointing a personal guardian for your minor children
  • Deciding in advance who is to make medical and lifestyle decisions for you if you lose the mental capacity to do so yourself
  • Deciding in advance who is to make financial decisions on your behalf if you lose the mental capacity to do so yourself
  • Organising and paying for your funeral arrangements

Take control of your wealth

At ITL Financial Planning we understand your circumstances are unique and they will change over time.

We will work with your team of trusted professionals to tailor an estate plan that works for you both now and is regularly reviewed in the future.

Talk to us now about creating an estate plan that preserves your wealth within your bloodline, eliminates uncertainties and maximises the value of your estate.

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