Sterling Financial can help make sure your wishes are carried out after your death. We can help you to plan and document how you would like to distribute your wealth (including assets you own personally and assets you control).
Estate planning – things you should consider:
Estate planning is a vital part of your overall financial strategy. We recommend that you review your estate planning position at least every 3 years or if you experience a major lifestyle or financial change (such as a change to your marital status, the death of a family member or a significant change in your financial circumstances). Note: Estate planning is a specialist area and you should seek professional legal advice.
Your Will is a binding legal document designed to ensure your wishes are carried out after your death. It is very important that you keep your Will accurate and up to date. As your personal circumstances or wishes change, you should seek professional legal advice to update your Will so that it remains accurate and binding. We also recommend that you discuss the potential benefits of forming a Testamentary Trust with your solicitor to see whether it is appropriate for you.
Power of Attorney
We strongly recommend you appoint a Power of Attorney (either Enduring or Medical or both) who will manage your affairs when you are no longer able to manage them yourself. You should review any Power of Attorney from time to time to ensure that they still reflect your wishes and circumstances.
Binding death benefit nominations (who you want your superannuation benefit paid to after your death)
SMSFs provide you with the highest level of control with your estate planning when used in conjunction with binding death benefit nominations. Note: Binding death benefit nominations expire after 3 years and must be renewed.
Please call us on 03 5338 8877 to make an appointment with a member of our team