Oct 7

Questions to consider when preparing your estate planning

  • Who you want to take care of your financial, personal, and medical affairs if you were to lose capacity by way of Enduring Powers of Attorney (financial and personal) and Medical Treatment Decision Makers?
  • Who you want to be your executor and/or trustee?
  • Do you need to consider incorporating a testamentary trust in your Will?
  • Who should have control of your business interests including your Family Trust, Unit Trusts, Companies, Self-Managed Super Funds, and Small Businesses?
  • What do you want to happen to assets owned jointly or in entities you control?
  • Who do you trust to make these decisions when you no longer have capacity or have passed away?
  • What is the most tax-effective method of transferring your assets?
  • What life insurance do you have in place?
  • Who are the beneficiaries of any death benefits associated with your superannuation fund?
  • Do you have minor or disabled beneficiaries?
  • What happens to your digital currency?
  • What happens to your digital assets such as emails and social media accounts?
  • Ensuring spouse, partner, children, dependants are looked after when you die or become incapacitated.
  • Ensuring that your pets are taken care of with relatives or charities.
  • Bequests are made to charities of your choice.