Your career is on track and your life is turning out as you’d hoped. 

But have you planned for surprises?

What if you were involved in an accident or diagnosed with a fatal disease? Have you planned for your family and loved ones?  These are decisions that require professional assistance.

We can show you how a valid Will would guarantee the financial interests of your loved ones. But first let’s look at what a Will is. 

A Will is a legal document that lets you decide how to distribute your financial assets if you die. You can choose the beneficiaries who’ll receive those assets and appoint an executor to manage your estate after your death. 

In other words, you choose who, when and how much of your assets each beneficiary will receive.

We’ve all read newspaper stories about unpleasant legal fights over property after a person’s death. To avoid any conflict after your death, it’s essential that you avoid dying while intestate.

Intestacy arises when someone dies:

• without a legally valid Will; or
• with a legally valid Will that does not distribute the entirety of their estate.

To die intestate means that it’s the courts that will be distributing your assets according to a formula set out by law. In other words, it isn’t you who decides where your property goes and to whom, but a government bureaucrat, somebody you don’t even know, who will make those personal decisions.

The tax implications of dying intestate can be serious as well. When a government official is distributing your assets according to a legislative formula, there’s no possibility of smart tax planning. This can end up enriching the government at the expense of your family members. 

These types of problems can be avoided through a Will drafted by a qualified legal professional. 

That’s where we come in. We’re experts at drafting valid Wills that protect the financial interests of our clients.

Loretta Hill BBus, DipFP, CFP® 
Director | Bongiorno Group

As this general advice has been prepared without taking account of your objectives, financial situation or needs, you should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product Disclosure Statement before deciding to acquire the product.