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Estate Planning

A proactive approach to Estate Planning

We all want a safe and secure future for our loved ones, and yet around 40% off Australians pass away each year without a comprehensive plan in place for their estate. We understand that it is never a comfortable conversation to have, but here at CarePlan Advisory Services we are passionate about ensuring your assets are correctly structured and ready to be distributed exactly according to your preferences.

Below we have outlined some of the important things to consider and we encourage you to reach out to us when you are ready, to ensure your Estate Planning is in order. You can do so by calling 1800 270 990, or by emailing, or you can click here to fill in our contact form at the bottom of the page.

Key components of an Estate Plan

A comprehensive Estate Plan can be broken down in to 6 main areas.

While we can discuss and assist in recommendations for your estate plan, it is important that you follow through and put the required legal documents in place with a solicitor. We can put you in touch with specialists in this area if required.

Creating a Will is fundamental to ensuring that, when you die, your estate is finalised how you intended. It is a legal record of your wishes for the distribution of your assets. Without one, your assets are distributed according to inheritance laws of the state you live in.
It is best to plan for every outcome. An enduring power of attorney is a legal document that allows you the peace of mind that comes from knowing that one or more or your trusted loved ones can act on your behalf should you lose the capacity to manage your own affairs.
Ensuring your best possible lifestyle never loses its importance. An enduring health guardian allows you to appoint a trusted loved one to make health and lifestyle decisions for you should you lose the ability to do so due to injury, illness, or disability.
Advance care planning is the process or planning for your current and future health care. It involves talking about your values, beliefs, and preferences with your loved ones and doctors. This helps them make decisions about your care when you can’t. Ideally these conversations start when you are well and then continue throughout your life. If you want to, you can then formalise your advance care plan through an advance care directive which is a written advance care plan and is sometimes referred to as a ‘living will’.
Your superannuation savings do not form part of the assets that are distributed via your Will. Therefore, unless you make a valid nomination on your super accounts, the Trustee of your superannuation fund uses their discretion to determine who receives your death benefits, rather than as per your wishes.
Testamentary Trusts are trusts that are established by your Will and come into effect after your death. They hold and manage all or some of the assets and distribute it to the nominated beneficiaries as outlined in the Will.

Estate Planning Checklist

A will is a binding extension of your wishes and forms an important part of a comprehensive CarePlan Estate Arrangement. If you already have a Will it is also important you regularly ensure it is up to date, at least after each significant event in your life.
We of course plan to be in good health as long as we can, but it is important you have appointed someone you trust to manage your affairs should you die or become incapacitated.
Ensuring financial protection for your family in the event of your death, injury, disablement or significant change in capacity is one of the many benefits of a professionally created Estate Plan. We help you address financial security for your family, giving you peace of mind so you can focus on quality time.