As financial planners, we will always ask clients if they have an Estate Plan in place, and the answers we get are often surprising. Many people shrug off the conversation and we get responses such as “I don’t own anything, so its not a big deal” or “my family/kids all get along, so I’m sure they will work it out between them” or “yep, I did that” [and it turns out it was 20 years ago and hasn’t been looked at since].

It’s not that they don’t care who inherits their wealth, but often they genuinely aren’t aware of what they have, how the process will work, or the costs to their beneficiaries when they get it wrong.

In this WTDTYAS session, I was joined by Carrie Payne [a legal expert in all things Estate Planning] and Financial Planning Director, Megan Kelly, to discuss why estate planning is so important, including:

  • Why everyone should have an Estate Plan,
  • What happens if you don’t have any plan in place [who steps up and takes control?],
  • When you should revisit and update your plan, and
  • Why it’s important that your financial advisor is aware of your plans.

Whether you are a multi-millionaire or a struggling student, this session highlights things you should be thinking about and regularly checking in on with your Estate Plan.

If you have any questions feel free to contact us on oneplace@businessdepot.com.au or give us a buzz on 1300 BDEPOT.

General Advice Disclaimer

Business Depot Financial Planning BNE Pty Ltd ABN 27 644 561 400 and its advisors are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL No. 357306.

Business Depot Financial Planning SYD Pty Ltd ABN 18 611 694 421, is an Authorised Representative of Count Financial Limited ABN 19 001 974 625 AFSL No. 227232 which is 85% owned by CountPlus Limited ABN 111 26 990 832 (CountPlus) of Level 8, 1 Chifley Square, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 8, 1 Chifley Square, Sydney 2000 NSW. CountPlus is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial Ltd.

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