Estate Planning & Administration

Estate planning is creating a comprehensive plan that makes sure your assets are distributed according to your wishes after you pass away or should you become incapacitated.  

This can be as simple as a Will and as detailed as reviewing company and trust structures, selecting trust beneficiaries and planning for business succession, planning for tax implications and more. Estate planning can even involve determining what will happen to your social media accounts.  

At Green Associates, we understand that estate planning can be complex and emotional, but we’re here to help you implement a robust and effective estate plan so you can have peace of mind knowing that your assets and loved ones will be taken care of.  

Here are 5 benefits of having a Will and an effective estate plan: 

1. Provides reassurance and security: a successful estate plan means your assets will be distributed according to your wishes and in a way that aligns with your goals and values after you pass away.  
2. Minimises taxes and expenses: estate planning can help minimise the taxes and expenses associated with transferring any assets and loans. We can help you take advantage of any tax exemptions and deductions. 
3. Protects your assets: a successful estate plan can protect your assets from creditors, lawsuits and other legal issues. You can create trusts and other legal structures that shield your assets from potential risks, ensuring that they’re preserved for your beneficiaries.  
4. Plans for possible incapacity: estate planning can include a Power of Attorney which allows you to appoint someone to manage your financial and legal affairs if you become incapacitated, an advance care directive that allows you to clarify preferences for future treatment and more. 
5. Provides for and protects your loved ones: perhaps the most important benefit of a good estate plan is that it financially and emotionally provides for your loved ones after you’re gone. It helps them make decisions during difficult times and prevents disputes. 

A Green Associates Financial Planner Adviser helps you:  

• Review personal and non-personal assets; company, trust and business structures; self-managed super fund trust deeds; super and life insurance policies and more  
• Identify and manage any tax implications  
• With estate planning administration, which is the management, collection and distribution of your assets and liabilities after death. 

• Work with Estate Planning specialists to ensure that your wishes and needs are met. 

The estate planning process can also be a prompt for us to work together and plan for other later-life events, such as retirement and a move into Aged Care. 

It’s important to remember that estate planning is also an ongoing process; we can help you review and update your estate plan regularly to ensure that it continues to reflect your wishes and priorities. 

We do all the above and more, working closely with our legal partners to ensure that your estate planning needs are fully addressed and kept up-to-date as legislation and your family’s needs change.   

Without a solid estate plan, there may be repercussions including: 

• Your assets being distributed according to the default rules of your state, which may not align with your wishes or be in the best interests of your loved ones 

• Arguments between your loved ones on how to distribute assets, which can involve costly and emotionally draining legal battles 
• Tax liabilities that reduce the value of your assets, whether the tax implications are to your estate of your beneficiaries  

Estate planning is important to avoid these scenarios and more, allowing you to feel confident that your estate will be dealt with according to your values and goals. 

It’s never too early to start making an estate plan. The reality is that we never know what the future holds, and preparation is best. We find that our clients will be prompted to make an estate plan at certain milestone moments, such as having children and approaching retirement.  

To start putting in place your estate plan, book an appointment with a Green Associates Planner today. We can provide expert guidance with your best interests at heart and assurance as you go through this process.