Estate & Succession Planning

Estate & Succession
Planning

Estate planning is an integral, but often overlooked, part of the financial planning process. 

At VISIS Private Wealth, we believe it’s vital to ensure that your estate is structured to ensure that, when the time comes, your wealth is shared the way you want it to be.

We help navigate the complexities of estate planning and assist in interpreting decisions. Importantly, we translate your estate planning wishes into clear, easy to understand instructions that meet your objectives. 

Estate planning is a core service we provide our clients to ensure their wealth is passed on in the most effective way – to their loved ones, or a favourite charity not the Australian Taxation Office. 

It’s something that should be considered in addition to your Will. 

Estate & Succession Planning considerations include:

  • Superannuation – Giving a binding death nomination to the trustee of your superannuation fund.
  • Small business or partnership – This may be subject to a buy/sell arrangement with the other partners. In these circumstances your share of the business would automatically pass to the remaining partners (usually in exchange for the proceeds of an insurance policy).
  • Power of Attorney – This is a legal document that appoints another person to make legal and/or medical decisions on your behalf. It is particularly useful should something happen where you are temporarily unable to sign documents.
  • Do you need a Testamentary Trust? This is a trust created in a person’s will, which is activated upon the death of that person. Instead of assets passing directly from one person to another, the assets are passed to the Testamentary Trust and then administered by the designated trustee – usually a family member, a trustee company, accountant or a solicitor.

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