Have you thought about the legacy you want to leave to your loved ones?
We all work hard, and spend most of our lives providing for our loved ones, however, have you ever wondered how your assets will be distributed upon your death?
Have you ever wondered whether your loved ones would pay tax on their inheritance?
Have you ever wondered what would happen if you are no longer able to make a decision?
If you answered “ yes”, then with an effective estate plan, you have peace of mind knowing your legacy will be left the way you want it.
What is estate Planning?
Estate planning involves determining how an individual’s assets will be preserved, managed, and distributed after death.
It also considers the management of an individual’s properties and financial obligations if they become incapacitated.
Assets that could make up an individual’s estate include:
Personal Assets, such as your house and vehicles.
Financial assets, such as investments and superannuation and pension accounts.
Personal insurances such as death cover
Debts and liabilities.
There are many reasons one must plan to establish an estate plan, including preserving your family’s wealth, providing for your surviving loved ones and leaving a legacy behind to a charity.
For more information, contact the friendly team at Modern You Financial Planners today for a free consultation.