Estate Planning

Providing for future generation

Protection of your assets and ensuring that they get to the right hands quickly are the primary considerations of Estate Planning.

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
Some questions you may wish to consider include:

• 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?

Tools and possible strategies in estate planning

Will
Superannuation nominations
Family trusts
Testamentary trusts
Superannuation proceeds trust
Powers of attorney
Reversionary pension

How can we help?

Provident’s planners can provide guidance on the use and combination of the tools above to structure your estate to ensure your assets are protected from third party claimants, operational in the event of disability and distributed effectively in the event of death.

Any advice contained in this document is of a general nature only and does not constitute personal financial product advice. In preparing the advice no account was taken of the objectives, financial situation or needs of any particular person. Therefore, before making any decision, readers should consider the appropriateness of the advice with regard to their particular objectives, financial situation and needs.