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MACQUARIE ADVISER SERVICES
Estate Planning – What’s your legacy?
PRESENTED BY JOHN CITIZENAUGUST 2008
MACQUARIE ADVISER SERVICES
Agenda Make a will, now
Who gets your Super?
Life insurance
Structure
Power of Attorney
What to consider
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Make a will, now
$46m has been transferred to the NSW Treasury over the past five years due to unclaimed estates or individuals who died intestate.
Public Trustee, NSW
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Why don’t you have one Many overlook the need for a will altogether.
Others have wills that have become inappropriate.
If you have an asset you need a will.
Your money – where you want it.
And not just money
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Who gets your Super? Your Superannuation is likely to be one of your
largest assets.
Getting the structure right – how effective is your bequest?
Does the legislation accommodate your intention?
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Life insurance Insurance should meet the needs of those who
are dependent on you.
Similar considerations to superannuation apply.
New legislation also makes insurance through super attractive.
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The right structure Investment structure forms a key part of the
estate planning process.
What provides tax effective wealth distribution to your loved ones?
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Family trusts
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Power of Attorney – do you need one? An effective tool in wealth protection.
Broadly, there are two types:
– General Power of Attorney
– Enduring Power of Attorney
Choose wisely and be specific.
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Things to consider Estate planning is complex and legalistic.
Uninformed choices could have the opposite effect of what you intended.
Don’t leave the responsibility to someone else
Do seek help
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What to talk about Do you have a will? (Is it current?)
Do you have an executor?
Have you arranged a Power of Attorney?
Is your Estate Plan easy to administer?
Is a Self Managed Super Fund right for you?
Should you set up a Family Trust?
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What to talk about What are the cost, tax and estate planning
implications of running your life insurance through your superannuation?
How can you best minimise the tax implications for your beneficiaries?
Are there family issues that may effect your financial decisions. (Divorce, children from a previous marriage, dependent parents, etc).
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Many people haven’t even got a valid will, let alone a comprehensive, tax-effective Estate Plan which will protect and provide for their loved ones. By seeking professional advice now, you can make life easier for those you care about.
MACQUARIE ADVISER SERVICES
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Any questions?
