Wills
A will is a legally binding document that allows you to communicate your wishes and distribute your property after you die. It can also name an executor, guardians for children, and forgive debts. Having a will can protect your spouse, your children, and your heirs from your state’s laws and streamline the process for your loved ones.
It reduces stress and disputes for your beneficiaries. You can decide who will receive your assets and allocate money or assets for trusts.
Enduring Power of attorney
An Enduring Power of Attorney is a legal representative that a person can appoint in advance to manage their assets and financial matters on their behalf. This role can become part of the caring role if the person you care for is no longer able to make certain decisions for themselves due to impaired capacity.
It can also be useful in circumstances where you are in medical care or where you may be overseas for extended periods.
Advanced Directives
An Advance Directive, or sometimes referred to as a Living Will, is a legal record of your decisions about care and health treatment(s) you do or do not want to receive if you become unwell or injured in the future.
An advance directive can be an important part of your end-of-life care. An advance care directive formalises your advance care plan. The directive can contain all your needs, values and preferences for your future care and details of a substitute decision-maker.
Binding death benefit nominations
A Binding Death Benefit Nomination (BDBN) is a legally binding nomination that allows you to advise the trustee who is to receive your superannuation benefit in the event of your death.
Your Will does not cover your Superannuation.
The binding nature of this nomination leaves your super fund with no discretion.
It is part of overall estate plan for blended families, mixed families, extended families and second/subsequent marriages.
Life Insurance
Life insurance is a contract between a life insurance company and a policy owner.
Protect Your Family.
Total & permanent disability insurance
Total and Permanent Disability (TPD) insurance provides cover if you were to become totally and permanently disabled due to illness or injury and subsequently unable to work.
Provides financial security for you and your family.
Income protection insurance
Income protection insurance provides you with regular monthly payments if you are unable to work due to sickness or injury.
Helps cover your living expenses such as mortgage, school fees and car repayments.
Can help replace up to 75% of your income for a period of time.
trauma/ critical Illness insurance
Trauma insurance, also called ‘critical illness’ pays a lump sum amount if you suffer a critical illness or serious injury.
testamentary trust
A testamentary trust is a trust established by a will. It offers greater control over estate planning and distribution to beneficiaries compared to simple wills.
Flexibility in distributing your estate and enables wealth to pass to future generations.
Better asset protection.
Protection of children and vulnerable people
When you make your will, it is possible to appoint a legal guardian for your children.
Parents can appoint a legal guardian to care for their children if they die while the child is under 18.
disability Trust
A disability trust is a type of trust that is set up to provide for the care and support of a person with a disability. The trust can be set up by the person with the disability or by someone else on their behalf.
The Trust may help protect assets that are being used to pay for care and support.
Gifts
You may wish to include specific instructions with regards to creating a public legacy in your name.
You may feel that gifts and donations to charities or other organisations are a fitting way to leave your mark.