Three things I want you to know
There are three things that I want you to know about Estate Planning. Well actually, there are many things I want my clients to understand, but I cannot unload all of those on you in one hit. Instead I will focus on three principles, my main three, and if I could just get you to understand these three things your Estate Plan will be in much better shape.
Three things
The first one is that people want to know what you want, what you think.
The second thing is that your super nomination is not permanent, you have to keep doing it.
The third thing is that you have an Estate Plan already, whether or not you have documents, you have an Estate Plan.
People want to know what you think
Seriously, I have helped a lot of people with Estates, trust me when I say people want to know what you want, what you think. That doesn’t mean that they will always comply, but even if they were never going to comply they will argue about what you wanted. I watch families tie themselves in knots over what the deceased person ‘truly’ wanted, you might be surprised how many different and mutually exclusive thoughts can be assigned to the one person.
As part of my Estate Planning process I help you spell that out for them, and hopefully they will do what you want and won’t argue amongst themselves. If you like you could also spell out the reasons, if you think there are going to be arguments, but even just saying what you want can be really helpful. So seriously, spell it out, they want to know.
Your superannuation nomination isn’t permanent
Your superannuation nomination either is not permanent, or it is not binding. It cannot be both. If you want it to be binding (little tip, you do) then you have to update it every three years. Don’t worry, I have given you easy instructions for updating your binding nomination.
You already have an Estate Plan
Something will happen after you die, make sure it is what you want.
I don’t know you, or your background, your family or your asset structure but I know that you already have an Estate Plan. Everyone does, there isn’t a vacuum that opens up and sucks up your assets, and all the junk in your house, and deals with the government departments upon your death.
Make sure what you have in place is your plan, and this is definitely one of those areas where having a plan to make a plan is not enough. Keep moving towards making that plan a written reality that someone else can act upon.
I need an Estate Plan
If you don’t have an Estate Plan, and you would like to have one, then you could give Janis a call and find out how she can help you with that. You can call her on 0421 887 571, or email her at janis@novuslawgroup.com.au
If you are busy right now, or it is 11pm at night and you would like her to call back at a more civilised time, then you could also book in a free call with Janis by clicking on the button below.