Estate planning forms an integral part of your overall wealth management strategy. Ensuring someone distributes your assets following your wishes requires a formal plan to avoid complicated legal proceedings or messy family disputes after your passing.
Estate planning is more than creating an essential will. The tax implications can be complex, and you should plan in consultation with an estate planning investment and wealth advisor.
At North Advisory, we can advise on creating and implementing a trust. You can appoint a trustee to manage your assets and make decisions on your behalf, about when and how your beneficiaries can access their inheritance responsibly.
At North Advisory, we specialise in advising on establishing and administrating trusts. A trust allows you to appoint a trustee to manage your assets and make informed decisions about when and how your beneficiaries can responsibly access their inheritance. Setting up a trust and appointing a trustee reduces ambiguity and minimises potential disputes among your heirs.
While a will is a crucial component of estate planning, it must address your wishes for financial and medical care should you become unable to make decisions for yourself. Selecting individuals to manage your affairs during such times is a delicate matter best approached with the guidance of trusted advisors and thoughtful discussions with family members and close friends.
The transfer of assets can also carry significant tax consequences for your beneficiaries. Engaging with an estate planning professional to address these tax considerations ensures that your strategy protects your wealth and minimises or equitably distributes the tax burden among those who will inherit your legacy.
Estate planning is a vital tool for developing a qualified and seamless succession plan for those who lead family-owned businesses. Expert legal advice can help mitigate potential family conflicts, while our team possesses the expertise necessary to assist in tax mitigation and succession planning, ensuring a smooth leadership transition.
For a no-obligation discussion on securing your estate and protecting your legacy, contact us today.
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Suite 6, 11 Oaks Avenue
Dee Why, Northern Beaches
NSW 2099
Australia