That’s why planning who it goes to, and the manner that it gets there is unbelievably important.
Estate Planning doesn’t just stop with your will.
Sure, a good will should mean that whatever is left over ends up in the hands of the people you intended, but what happens if the ATO get their hands on a fair chunk of it before it gets there?
At LBW, we understand the importance of Estate Planning, understand the bigger picture and have seen first hand the consequences of not having a plan in place.
Most Australians have super, and a fair chunk own property. The tax on both can potentially be excessive if a plan is not in place prior to your death.
When dealing with your death, the last thing you’re loved ones will need is to be hit with a whopping tax bill at the same time… Especially if it could have been avoided; and a lot of the time it can.
Plan ahead, and ensure that the people you love the most get the biggest benefit possible from what you’ll be leaving behind.
Book an appointment today and make sure your family is looked after when you’re no longer here to do it yourself.