It is time to review your estate plan

It is time to review your estate plan

Plan for this world as if you expect to live forever; but plan for the hereafter as if you expect to die tomorrow. – Solomon Ibn Gabriol

Estate planning is critical for anyone who has a family and anyone who has assets.  The estate planning process ensures that in the event of death or incapacity, decisions are made by the people that you have chosen, and assets are dealt with in the manner you decide.

What if you already have a will?

A will is just one part of an estate plan.  Increasingly our financial resources include assets such as superannuation, which is not generally dealt with appropriately by a conventional will. Further a will does not address loss of capacity or decision making about your financial and personal & health matters while you are alive.   Estate planning is not a static process – it is not something you do once and never have to worry about again, rather it is something that should be in the back of your mind during all of life’s major events – marriages, births, property purchases, new jobs, new businesses or new investments.

What if your situation is ‘simple’?  Can’t you just buy a will from the post office or the internet?

As noted above, a will is only one part of an estate plan.  Further, the traditional family circumstances that most ‘off the shelf’ will products are based are becoming increasingly rare – most families are no longer just Mum, Dad and 2.3 children. Blended families, single parents and multi-generational families are very common, and each of those requires the type of tailored estate planning that only an expert can provide.

What should you do?

The Ballantyne Law Group is expert in estate planning, and will work with you and (where necessary) your professional advisers such as your accountant and financial planner, to ensure that your estate planning needs are implemented. Whether it be through the use of testamentary trusts, memoranda of wishes, mutual wills, guardianship guidelines, contractual wills, advance health directives or other estate planning tools, we are able to demystify the process and ensure that you are satisfied with your plan.

Contact us today to discuss.

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