Let's face it nobody likes talking about wills and estate planning because it means talking about ill health and even worse - death.  As someone once said to me "our family doesn't use the D-word."  Unfortunately, the only way to ensure that your wishes are met in the future is to plan now.

Estate planning involves a number of actions and broadly as noted by ASIC, these include:

1. Estate plans - the how and why
2. Wills & Testamentary trusts - the documents that come into effect when you pass away
3. Powers of attorney - your instructions for whilst you are alive, but unable to act and include several other possible options, depending on which State you live in.
4. Binding death nominations (BDNs) - to set out superannuation death benefits.

You can draw up these documents yourself, however, we would always recommend getting these drafted by a lawyer.  We are not legal practitioners and therefore do not draft these ourselves, read more about our licensing here.  however, we like to work with them to pass on our knowledge about your financial affairs and to work together to get the best result.  

The answer is to think about what you want and then to act. We've seen this go badly wrong when no action is taken as per this "war story" we recently shared. 

Disclaimer: This information is general in nature and is not an opinion expressed by us. So, before acting on this or any other information, it is important to seek professional advice related directly to you and your circumstances.  Should you require our assistance, contact your Primarius Team leader, or email us at info@primarius.net.au

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