Unfortunately, many believe that implementing a Will is a valid estate plan, however, many assets are not covered through the Will and hence, an estate plan is significantly broader. The estate plan should also seek to protect assets whilst you are alive ensuring effective distribution upon death.
Common questions to consider
- What assets are not covered in my Will?
- Have my circumstances changed since my Will was implemented?
- Who should receive my super?
- What happens if I’m incapacitated?
- What happens to my family trust upon Death?
- Who takes over my company if I can’t operate it?
- How do I ensure my children’s inheritances are protected?
- Are my assets protected from creditors?
- As I have my own business with business partners, what happens to my part of the business if I die?
- Is there anything I can do to protect my estate?