Stay in control of your assets. Prevent the kids from fighting. Avoid massive legal fees. Create a smooth, delay-free process. Win the war with the Tax Office.
The catalyst for writing a book about estate planning was a bulletin from Finder claiming that 12 million Australians did not have a will and 60% have never given a thought to estate planning. That’s a serious situation – and a signal that many people are unaware of the complexities that can arise if proper estate planning is not put in place.
Here are just a few of the issues you will learn about as you read this book.
What 80% of people fail to do after they’ve made their will. The consequences may be horrendous.
The difference between a superannuation member benefit and a superannuation death benefit. Not understanding this could cost hundreds of thousands of dollars in unnecessary tax.
A common misunderstanding about enduring powers of attorney.
Which assets fall outside the will and cannot be bequeathed in terms of the will.
The major mistake made by many pensioner couples when they are making their will. Getting it wrong can cost the survivor their entire pension.
How to handle the complexities that occur when you are left a property situated overseas.
Strategies to prevent family squabbles.
What do you need to know if you wish to contest a will.
Why you need to be wary about accepting the role of an executor.
The best kind of assets to leave to beneficiaries who are overseas residents. The tax treatment is complex.
The main reason most wills are challenged, what to do to try to prevent this.
How to use testamentary trusts to prevent your beneficiaries from losing control of the money. This could happen because they are not able to handle money, are in a difficult relationship, or are running their own business.
The investment product that sits outside the will and is safe from challenge.
The importance of using up capital losses before death.
Whether you should have a nomination as part your superannuation fund, and whether it should be binding or non-binding.