Most of us want to be sure that any hard-earned assets we’ve built up over our lives, such as our homes and savings, go to our choice of beneficiary when we pass away.
Beneficiaries could be a partner, our children, friends or even a charity. Sometimes, they’re a combination of several different people or organisations. Picking the right moment to pass on your assets is key as is understanding the variations in tax that you may have to pay.
If you’re not careful, you could end up reducing the net worth of your assets by making important decisions at the wrong time.
We can offer advice about:
Timing and your choice of beneficiary can be crucial. We’ll help you understand why.
Once we have the whole picture of your current financial circumstances, we can come up with a strategy that can help protect your assets. There are always dependencies. For example, sometimes, this may involve transferring the ownership of your home to a spouse or partner. We’ll talk you through all possible options.
Choosing a beneficiary is key to ensuring your assets do not get lost or swallowed up in tax. It’s also important to ensure that any dependents you have will still have access to your bank accounts should the unexpected happen. You should include savings, super or other assets when weighing up your choice of beneficiary.
No matter how obvious these kinds of decisions are, it can be hard to think about them, let alone make them. A financial assessment with us is an ideal opportunity to talk it all through with an objective third party.