Estate Planning
Unfortunately less 35% of Australian’s have a valid Will, and less than 19% of young families have one. If you pass away without a will, your assets can be distributed according to law and not necessarily to your closest family and friends.
How does Cashel House assist with Estate Planning?
We are not a legal adviser and cannot legally advise you on the creation and documentation of a Will, however we can advise you on the commercial and financial planning aspects that will impact the after tax monetary effect of what you are seeking to achieve.
To assist your estate planning we will work with you to do the following:
- Establish the facts associated with your situation by completing a Cashel House Financial Questionnaire
- Prepare an Estate Planning Assistance Kit
- Meet with you to discuss and document financial matters that impact your estate
- Assist in coordinating the document of your Will by a qualified lawyer
- Assist in updating your Estate Plan when your personal circumstances change
Common Financial Planning Strategies for Wills and Estates
In the majority of cases, a Will and Estate plan will consist of instructions outlining that all assets go to your marital partner and then to children. However, in many cases further consideration must take place. Examples of this include:
- Catering for different behaviours of children – some children may be spendthrifts and their inheritance may need to be withheld in trust and then distributed over time to protect them financially from themselves.
- Protecting against further marital partners – for other children to protect inheritance it may be agreed that the remaining partner has a right to live in the family home until death, but the inheritance remains always with the children
- Establishing a Testamentary Trust – it may be advisable for asset protection and tax purposes that a testamentary trust is created.
Do you need assistance with your Estate Plan?
Receive an Estate Planning Kit from Cashel House by completing the following application:
If you die without a Will you assets will be distributed according to law. This may include distributions being made to financial dependents, former partners or de-facto partners. Where these is a dispute, this dispute will be heard at the state civil arbitrary tribunal. Depending on the state there may be up to 9-10 months delay before this can take place and any legal costs incurred in the meantime will likely be deducted from your estate.
Payment of your superannuation will depend on the trustees of your superannuation. Where you have made a death nomination the trustees will pay the superannuation to the nominated person, or to the executor of your will if you nominate your legal person representative.
If you pass without making a nomination the trustee may make payments to any of your dependents against the wishes in your Will. Please note that if your super is paid to a person that is not a financial dependent there may be taxes applied.
Cashel House is not a legal advisor and can not legally advise you on the creation and documentation of a Will, however we can advise on the commercial and financial planning aspects that will impact the after tax monetary effect of your estate assets.
To assist in estate planning Cashel House will work with you to do the following:
- Compete the Cashel House Financial Questionnaire
- Prepare a Financial Will Assistance Kit
- Meet with you to discuss and document financial matters that impact your estate
- Assist in coordinating the document of your Will by a qualified lawyer
- Assist with ongoing review of your Estate Plan when your personal circumstances change
Every 2 years or sooner where there is a change in personal circumstances.