Why is Estate Planning Important?

Facebook Twitter LinkedIn Mail Us

Why is Estate Planning Important?


Creating a Will and keeping it up to date is not the sole focus of your Estate planning. It is an important part but you also need to consider what will happen if you become legally incapable of dealing with your financial affairs or day-to-day living arrangements.

Ensuring your legal affairs are in order is essential and it’s important to take the same level of care that we have for your retirement planning. The consequences of failing to plan for these possibilities can be distressing and costly for your loved ones. Dealing with the grief after a loved one has passed away can be made worse if your loved ones are faced with issues that result in delays with the distribution of the Estate proceeds, extra legal costs or unnecessary taxes.

Equally as traumatic are families left with no choice other than to deal with Government agencies because a loved one has, through illness, lost legal capacity to manage their own affairs and did not have an Enduring Power of Attorney in place. Ensuring your legal affairs are in order will ensure that your loved ones don’t have to face these issues.

Having appropriate Estate planning strategies in place will ensure that your wealth is transferred according to your wishes, and in the most financially-efficient and tax-effective way. A Will is an important part of Estate planning, but once established, your Will needs to be updated regularly to include any changes in your or your beneficiaries’ circumstances.

For more information or should you wish to discuss matters further, please do not hesitate to call a member of our team on 1300 99 77 34 or email info@chan-naylor.com.au

Related:  Super Changes: Proposed Introduction of Non-Financial Superannuation Changes

General Advice DisclaimerThe information provided on this article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. If any products are detailed on this website, you should obtain a Product Disclosure Statement relating to the products and consider its contents before making any decisions.



The material on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained on this website is General Advice and does not take into account any person’s particular investment objectives, financial situation and particular needs. Before making an investment decision based on this advice you should consider, with or without the assistance of a securities adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. In addition, the examples provided on this website are provided for illustrative purposes only.

Although every effort has been made to verify the accuracy of the information contained on this website, lnfocus, its officers, representatives, employees and agents disclaim all liability [except for any liability which by law cannot be excluded), for any error, inaccuracy in, or omission from the information contained in this website or any loss or damage suffered by any person directly or indirectly through relying on this information.

Leave a Reply

Your email address will not be published. Required fields are marked *

Join our mailing list today!

Keep up to date with our latest news & updates!