Your Estate Planning Documents

We are now settled into our new offices at Level 2 / 60 Hindmarsh Square, Adelaide.  If you have not visited us yet at our new offices, feel free to come and check them out.

While you are here, you might want to consider a review of your estate planning documents including your wills, testamentary trusts, powers of attorney and advance care directives.  With the growing complexity of superannuation laws, you might also consider the appropriateness of implementing a binding death benefit nomination to ensure that any superannuation death benefits payable on your death (if you have not accessed and enjoyed them during your lifetime) will be paid to your intended dependent or to your executor to follow the terms of your will.  Binding death benefit nominations are extremely important, particularly where you have a self-managed superannuation fund and succession and control of your fund after your death might be complicated by such things as second marriages, family disputes etc.

Reasons for an update to your will might include any significant increase or decrease in the value of your assets or debts, new business structures, family trusts, self-managed superannuation funds, change of name, marriage, divorce, change of circumstances of your relationship with your previously nominated executors, guardians, attorneys etc, a move to a different jurisdiction, any beneficiary residing overseas (tax consequences can be severe and should be considered), birth of new children, children becoming adults, birth of grandchildren, grandchildren becoming adults, etc. etc. and the possibilities go on…

Your will should never be “set and forget”.  You should review it every two years or so (that doesn’t mean you need to change it, just review it to ensure that it still reflects your wishes and circumstances).

Ask us and we can help. Call us on 8344 6422.