You have worked hard to generate and establish your wealth over time. Planning ahead is one of the greatest gifts you can give your family, particularly when it comes to the complex and emotional task of leaving a meaningful legacy for your loved ones.
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Estate planning is an essential step to ensure that your wealth is protected and that your loved ones are provided for according to your wishes.
Aspire2 Wealth Advisers can help you, in conjunction with our referral partners, with estate planning and asset protection. We know that planning for the future can seem daunting, but with the right guidance, you can feel confident that everything is in place.
What is Estate Planning and Asset Protection?
An estate plan isn’t just about writing a will; it’s a comprehensive strategy that ensures your assets are passed on in the way you want.
Why is this so important?
With a clear plan, your estate could avoid unnecessary taxes, legal battles, or disputes among your heirs.
With the help of experienced estate planners, we can help you to:
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Preserve your legacy: An effective estate plan helps ensure your wealth is handed down smoothly, without complications or conflicts.
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Reduce taxes: Planning ahead can significantly reduce the taxes your estate might owe, meaning more of your hard-earned money goes to your family.
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Peace of mind: Knowing that your affairs are in order can give you peace of mind, ensuring your wishes are respected, and your loved ones are cared for.
Our asset protection and estate planning services
Wills and estate planning
A will is the most basic yet foundational part of your estate plan, detailing how your assets should be distributed after your death. That said, a good estate plan also considers other factors, such as property ownership, superannuation, and trusts.
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It’s important to update your will after major life events like marriage or the birth of a child to ensure it reflects your current wishes.
Trusts and Protecting Your Assets
Trusts are a powerful tool in estate planning. They allow you to manage your assets during your lifetime and ensure they are distributed according to your wishes after your death. Trusts can also offer significant tax benefits and protection from creditors.
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For example, family trusts are useful for distributing income among family members, which can lower overall tax obligations. On the other hand, a testamentary trust set-up will provide ongoing financial support to your beneficiaries while protecting the assets from potential legal claims.
Enduring Power of Attorney
An Enduring Power of Attorney (EPA) is a legal document that lets you appoint someone to make financial and property decisions on your behalf if you cannot do so. In Western Australia, an EPA will manage your affairs in case you lose the capacity to make decisions.
Without an EPA, your family might have to go through a long and expensive legal process to gain control of your finances if you become incapacitated.
Superannuation and Death Benefits
Superannuation often makes up a large part of your estate. It’s essential to plan how these funds will be distributed, including making binding death benefit nominations to ensure your super goes to the right people.
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Check and update your death benefit nominations regularly, as these can override your will regarding who receives your superannuation.
Why Choose an Estate Planning Financial Adviser from Aspire2 Wealth?
At Aspire2 Wealth Advisers, we understand that estate planning can be complex and emotional, and a little guidance at the start can go a long way. That’s why we’re here to make the process easier for you. We offer personalised services to help you create an estate plan that fits your unique needs and ensures your wealth is protected:
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Complete Planning: We take a holistic approach, covering everything from wills and estate administration to tax planning and superannuation.
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Expert Guidance: Our team keeps up with the latest legal and financial changes to ensure your estate plan is up-to-date and effective.
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Tailored Advice: We take the time to understand your goals, crafting a plan that aligns with your wishes and protects your legacy.
Frequently asked questions about estate planning & asset protection
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What is estate planning?Estate planning is about more than just writing a will. It’s a way to organise your financial affairs so that your assets are protected and distributed according to your wishes after you’re gone. This includes setting up trusts, appointing an Enduring Power of Attorney, and planning for your superannuation.
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Who should I choose as the executor of my will?The executor of your will is responsible for carrying out your wishes and managing your estate. Choose someone you trust—a family member, friend, or professional like a lawyer or financial adviser.
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What’s the difference between estate planning and asset protection?While estate planning focuses on what happens to your assets after you pass away, asset protection is about safeguarding your wealth during your lifetime, such as protecting your assets from lawsuits, creditors, and other potential risks.
What clients say about our financial planners
These clients have agreed to share their story. Everyone’s situation is different, so their choices and outcomes will be different to yours. Consider your circumstances before deciding what’s right for you.
These clients have agreed to share their story. Everyone’s situation is different, so their choices and outcomes will be different to yours. Consider your circumstances before deciding what’s right for you.
Ready to secure your future? Speak with an estate planning financial adviser today
Don’t wait to start planning your estate. Contact Aspire2 Wealth Advisers today to book a consultation with one of our estate planning experts in Perth. We’ll help you create a plan that safeguards your assets, minimises taxes, and ensures your wishes are respected.