Estate Planning

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Rather it is a unified process to ensure your assets are suitably managed if you were to lose physical or mental capacity and distributed according to your wishes after you pass away. It involves setting financial goals, creating a will, establishing trusts (if applicable), and deciding who will manage your estate. Starting early and regularly reviewing your plan can help you stay on track as you move through different life stages.

A key part of estate planning is understanding the various tools available, such as wills, powers of attorney, trusts, superannuation binding and superannuation non-binding nominations. It’s also important to consider the financial implications of different estate planning strategies, including tax implications, and the time and costs associated with managing your estate. An estate plan for a person with a young family will look very different to an estate plan for a person in aged care. 

It’s essential to consider the potential impact of estate related taxes on superannuation, legal and probate fees. Proper planning can help minimise these costs and ensure more of your estate goes to your beneficiaries. Additionally, discussing your plans with your family can help prevent misunderstandings and conflicts. 

Why is estate planning important?

Estate planning is an important part of your financial planning because it specifically considers how your assets will be managed both while alive and distributed after you pass away.

Estate planning should consider your superannuation/pension, your investments outside of superannuation, non-financial assets and your estate management and distribution needs. Many first-time clients have not thought about how they will manage their estate or what financial implications their beneficiaries might face, especially within the superannuation or pension space.

Properly managing your estate can provide your beneficiaries with greater certainty and confidence that they will receive the assets you intended for them, and it can help minimise potential conflicts and legal challenges.

How can we help?

We specialise in estate planning and provide personal financial planning advice tailored to your specific situation. We also work with your solicitor or alternate estate planning professional to help create a estate plan that considers the financial implications of the decisions you make, not just the legal outcomes. 

• We provide personalised advice tailored to your unique financial situation, helping you choose the estate financial strategies to help you gift assets to the next generation.  
• Alongside first-hand estate planning experience, our financial adviser holds certifications from recognised institutions such as universities, the Financial Advisers Association of Australia and the SMSF Association. This ensures you can seek expert guidance with confidence. 
• We also offer regular reviews of your estate planning if required, as your life needs change for example starting a family, retiring from work or moving into aged care.  

At EKB Financial Advisers, we pride ourselves on helping our clients make informed decisions. 

Make an appointment 

We invite you to make an appointment with us if you need assistance with managing youe estate planning. Call us on (03) 99692230 to make an appointment. We are able to take your call during business hours. Alternatively reach out to us on our website contact form, and we’ll call you back to arrange a time to meet. 

By understanding and managing your estate plan with your legal adviser, we can work to ensure you leave a financial legacy for the people most important to you.