Estate Advice

The article stresses the importance of having a legally valid will to prevent disputes over asset division. It emphasizes the need for open family discussions on inheritance planning and highlights the complications of dying intestate. The piece discusses the significance of completing binding death benefit nominations for superannuation and mentions potential tax implications, advising consultation with a financial adviser for estate planning assistance.

 

Today, we are joined by Rhys Phillips, director of Strategy First Financial Planning, to discuss the topic of estate planning and intergenerational wealth transfer.

This video provides an overview of estate planning strategies, emphasizing the importance of thoughtful consideration and professional guidance in creating a comprehensive plan. It discusses key elements such as wills, trusts, powers of attorney and enduring guardianships, highlighting their role in protecting assets and ensuring one's wishes are carried out effectively. Additionally, it addresses a growing challenge facing many Australians – how to successfully transfer wealth to future generations.

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This information is general advice only and does not take into account your objectives, financial situation and needs. Before making a financial decision based on this advice, you must consider whether it is appropriate in light of your needs, objectives and financial circumstances, and where relevant, obtain personal financial, taxation or legal advice.

If you or someone you know might benefit from Estate Advice, enquire with us today.

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