What is Estate Planning?
Estate Planning is the procedure that all people should have in place upon considering how we want our affairs to be handled and managed, on the occasion in which we pass away. Upon this circumstance, we always want our assets and possessions to go to the people we have elected, and we also want to avoid estate taxes that may be collected from your legal heirs upon your passing.
To many people, death is not something that is talked about easily, but unfortunately we all know that it is inevitable. This is why it is so important to get your affairs in order legally, for the sake of your family and loved ones. With the right advice and careful planning, planning your estate can be simple. The factors that include Planning your estate are as follows:
This may include, but is not limited to:
- Selecting an appropriate Executor
- Creating a Will
- Selecting an appropriate Guardian
- Appointing a Power of Attorney
- Creating a Testimony Trust to protect your estate and beneficiaries
A Will is a certified legal document that displays a person’s wishes for the distribution of their estate wealth and assets after their passing. A valid Will is absolutely essential if you want your estate assets to be distributed as you desire. This is why it is paramount to get the best possible advice for your Estate Planning.
How much does Estate Planning cost?
The cost of estate planning will primarily depend on your situation and the amount of planning you need, which will be advised from team of professionals. Estate Planning is so much more than just planning a will - it is the one thing that will look after your loved ones and family once you pass away, so for the sake of your loved ones, this is why it is worth it to have top quality planning to ensure everything goes to plan.
This quality advice can also offer the option to use your Superannuation funds to pay for your Estate Planning, instead of dealing with upfront fees.At Sheffield Financial Advisors we specialise in helping Australians get the best Estate Planning for their personal circumstances & needs. As the planning structure is different for every individual we provide tailored solutions.
To find out more about Estate Planning and get a quote Contact Us.