Planning your estate is essential for peace of mind and ensuring your family’s future is protected.
Our estate planning services make the process straightforward, offering expert guidance to help you organise your affairs and safeguard your legacy.
We tailor our services to fit your unique needs and wishes. Let our skilled professionals handle the complexities, so you can focus on what matters most. Read on to learn more about how we can help you secure your legacy.
Erin Truscott shares how our estate planning services can help you protect your legacy and secure your family’s future. Learn how we tailor estate plans to reflect your personal wishes, ensuring that your assets are distributed according to your intentions and providing peace of mind for you and your loved ones.
Erin Truscott:
I’m Erin from Direct Wealth, and today I wanted to talk about estate planning and the importance of having an estate plan. This is something we see every day in our business where something happens and one of our clients passes away and the family come to us and the first question that they might have is around the will that they’ve reviewed and the involvement that we’ve had in terms of the investments and the super. So, when we look at estate planning, one of the biggest things that we see is where you don’t have a proper estate plan in order, it can create huge arguments across family members, people they think that should have received something or should be included in more of a capacity than they have been. So, if we want to avoid having any of these issues, we need a clear estate plan that is up-to-date, that is signed, and that has all of your list of instructions in it clearly so that it can be distributed according to how you would like it to be distributed.
This eradicates any kind of arguments or things that come back from other family members that feel they should have received some of your assets and allows you to lay that out very clearly and make sure that the assets are passed to the right people at the right time. When working with your financial advisor at Direct Wealth, if we identify there isn’t an estate plan and there are issues with you being able to get one or a reason why you don’t want to get one, although we are limited in what we can do, we are able to help you nominate specific beneficiaries for your superannuation and your insurance to try and make sure that if something ever does happen and you don’t have an estate plan or a will, that those assets can still pass to the right people. Now we need to stress that that does come with some limitations.
However, there are things that we can do at Direct Wealth to help you nominate beneficiaries when there isn’t a will that’s in place. And this is a specialist area that we can refer you to in our business to ensure that you can meet with an estate planning lawyer who can help you through the best way to set up your structures. If you have a young family, you might want to put some money in trust and this is a special type of will that an estate planning lawyer would talk to you about. So, when thinking about estate planning, the real role of Direct Wealth in this process is to ensure that once we have a plan in place and we understand what that looks like, that if any changes occur which results in updating beneficiaries and notifying the lawyer and legal team that have built the estate plan, that we do that and manage this through effectively. And this will help make sure that the plan that’s put in place can be followed properly upon the client’s passing or incapacitation.
So, if you are thinking about starting your financial planning journey or perhaps you might be looking for a new financial advisor, please do reach out to the team at Direct Wealth. We have a number of wonderful advisors here who can really help you on your journey and give you peace of mind that the plan you have in place is going to make sure that you are okay now and into the future. We really look forward to hearing from you.
Estate planning is the process of organising your assets and affairs to ensure they are managed and distributed according to your wishes after your passing. This involves creating legal documents such as wills, trusts, and healthcare directives, and appointing executors and guardians.
For individuals, estate planning provides peace of mind by ensuring your loved ones are cared for and your wishes are honoured. For businesses, it ensures the smooth transition of business ownership and the protection of your assets.
Our estate planning services are meticulously designed to safeguard your future and honour your wishes. Here’s how we assist you:
Our estate planning services provide significant benefits, ensuring your legacy is secure and your loved ones are cared for:
By choosing our services, you’re not just planning for the future; you’re taking control of it. Ready to start? Contact us now to make your estate planning simple and effective.
At Direct Wealth, the numbers tell our story. With years of dedicated service, tons of experience, and countless happy clients, we’ve built a reputation for trust and excellence.
Here’s a look at what we’ve achieved:
Our team of experts will guide you through the process in a clear and simple way.
We’re here to make the complex process of planning your estate as easy as possible.
Whatever your needs might be, we’ve got the expertise to help make the process smooth and stress free.
We take the time to understand your unique circumstances and wishes, so we can provide tailored advice that fits your exact needs.
With our support, you can relax, knowing your estate plan has been designed just for you, ensuring your wishes are respected and fulfilled.
Planning your estate can feel overwhelming, but you don’t have to tackle it on your own.
Our advisors simplify the planning process, helping you understand your options and make informed decisions.
With our guidance and support, you gain the peace of mind that comes from knowing your legacy is in expert hands.
We’re here to create personalised estate planning strategies that meet your needs.
Whether you’re looking to organise your affairs, protect your assets, or secure your family’s future, we’re here to help.
Our goal is to ensure your estate is organised, legally compliant, and tailored to your wishes, giving you true peace of mind.
Ready to secure your legacy? Contact us today to get started.
Jamie F.
Satisfied Client
“I had a fantastic experience with Direct Wealth! From the very beginning, I felt comfortable with the entire process. Kirsty and the team were professional, knowledgeable, and always available to answer my questions.
They took the time to understand my needs and provided tailored advice that I could trust. I highly recommend Direct Wealth to anyone looking for expert financial guidance. Thank you for your exceptional service.”
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Estate planning is the process of organising your assets and affairs to ensure they are managed and distributed according to your wishes after your passing.
It involves creating a set of legal documents, such as wills, trusts, powers of attorney, and healthcare directives. These documents help outline how you want your assets to be handled, who will care for your minor children, and who will make decisions on your behalf if you’re unable to do so.
Estate planning can also address tax planning, charitable giving, and business succession planning.
An estate planning checklist typically includes the following steps:
Estate planning is crucial to ensure that your wishes are respected and that your assets are distributed according to your desires. It also helps minimise potential disputes among heirs, reduces estate taxes, and ensures that your family is taken care of financially and emotionally.
Proper estate planning can also streamline the management of your affairs if you become incapacitated and provide clear instructions for the care of your minor children.
Estate planning usually involves several key documents:
No, a power of attorney cannot change a will. A will can only be changed by the person who created it (the testator) while they are still mentally competent.
Any changes must be made through legal amendments called codicils or by creating a new will.
The power of attorney’s role is to manage the financial and legal affairs of the person who appointed them, not to alter their estate planning documents.
The cost of creating a will in Australia can vary depending on the complexity of the will and the fees charged by the solicitor or estate planning attorney.
Simple wills may cost a few hundred dollars, while more complex wills can cost several thousand dollars.
It’s advisable to consult with an estate planning professional to get an accurate estimate based on your specific needs.
To make a will in Australia, follow these steps:
Yes, you still need a will even if you have a trust. A will can cover any assets not included in the trust and appoint guardians for minor children. It also allows you to specify your wishes for any personal items and manage any remaining financial affairs.
Having both a will and a trust ensures that all aspects of your estate are managed according to your wishes.
A testamentary trust in Australia is a trust that is created through a will and comes into effect upon the death of the person making the will. It can provide tax advantages and help protect the assets for the beneficiaries.
Testamentary trusts are often used for managing the inheritance of minor children, providing financial support while ensuring the assets are protected and managed according to the deceased’s wishes.
Estate planning attorneys provide legal advice and assistance in creating an estate plan that meets your needs. They help draft documents, ensure legal compliance, and offer guidance on complex issues such as tax planning, trusts, and asset protection.
Estate planning attorneys can also help resolve disputes among heirs and represent your interests in legal proceedings.
You should review and update your estate plan whenever there are significant changes in your life, such as marriage, divorce, the birth of a child, or major financial changes.
It’s also a good idea to review it every few years to ensure it still meets your needs. Regular updates ensure that your estate plan remains relevant and effective in reflecting your current wishes and circumstances.
If you die without a will, your estate will be distributed according to the intestacy laws of your state or territory. This may not align with your wishes and can lead to disputes among your heirs.
It’s important to have a will to ensure your wishes are followed and to provide clear instructions for the distribution of your assets and the care of your minor children.
To ensure your estate plan is legally binding, work with a qualified estate planning attorney or solicitor. They will help you draft the necessary documents, ensure proper execution, and comply with all legal requirements. Proper legal guidance ensures that your estate plan is comprehensive, valid, and effective in reflecting your wishes.
When planning for your children’s future, consider the following:
Probate is the legal process of administering a deceased person’s estate. It can be time-consuming and costly.
You can avoid probate by setting up trusts, designating beneficiaries for accounts, and owning property jointly with rights of survivorship.
These methods allow assets to transfer directly to beneficiaries without going through the probate process.
Financial planning services are provided by Direct Wealth Pty Ltd & Direct Wealth Two Pty Ltd, as Corporate Authorised Representatives (No. 1253660) & (No.1309994) of Alliance Wealth Pty Ltd AFSL449221 www.centrepointalliance.com.au/fsg/aw
Credit advice and mortgage broking services are provided by AX2 Enterprises Pty Ltd as Corporate Authorised Representative No.494592 of LMG Broker Services Pty Ltd (Australian Credit Licence No. 517192).
Accounting and tax agent services are provided by Lighthouse Accounting.
