Most people have inadequate life insurance cover and are unprepared for the financial ramifications for their family in the event of their death. Regardless of your personal wealth, it’s vital to plan for the unexpected – particularly the distribution of any assets and property to your beneficiaries, and any accompanying taxation implications. It’s also important to consider the financial welfare of your partner or other dependent beneficiaries if you are permanently incapacitated or die.
It does not matter how small your personal wealth is, you should still ensure you have a current Will and plan your affairs. Appropriate estate planning can allow you to pass on your assets to your beneficiaries in a tax effective way and can minimise the effect of capital gains tax. As part of the process you should also check your superannuation funds and life insurance policies to see who you have nominated as your beneficiary and seek to make changes if necessary and possible.
Here at Meiklejohns we can assist with a tailored personal insurance portfolio and an appropriate Will; to ensure those close to you are financially protected if you’re no longer around.
Financial planning services are offered through an Authorised
Representatives of PIS.
AFSL No. 234951. ABN 11 074 608 558.
