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Estate Planning

Why You Need to Consider Estate Planning

Estate planning might not be something you’ve considered. Perhaps because you’re still young and healthy, or you don’t yet have a family, or it’s just something you’d rather not think about.

After all, it can be uncomfortable contemplating what might eventually happen to the wealth and possessions you’ve accumulated in life and how they might be passed on, but it’s not something you should leave to chance.

The importance of Estate planning is to determine how you pass on your wealth and to maximise the benefits that remain. Everyone over the age of 18 who owns assets should have an effective will in place to make sure those assets are distributed in the manner they choose to the people they want to have benefit from them.

What you spend on estate planning now could ultimately save your estate thousands of dollars, while also giving you added peace of mind.

You may have considered drawing up a will, but you may not have considered some of the other documents available to ensure your wishes are carried out as you intended.

What is a Will?

A will is a legal document that lets you choose who should benefit from your estate, as well as the person most suitable to administer your will in accordance with your wishes.

Testamentary Trusts

Including a testamentary trust in your will gives your beneficiaries the opportunity to not only their inheritance, but also minimise tax on income earned from their inheritance.

A testamentary trust is not for everyone. Estate planning advice is essential in this case to ensure this option is suitable for your needs.

Enduring Powers of Attorney

Regardless of your age, if you own assets an enduring power of attorney should be in place so in the event of unexpected incapacity, a person you trust is empowered to step into your shoes and manage your assets on your behalf.

A power of attorney can be prepared for you either as part of an estate planning package or as an individual document.

Appointment of Enduring Guardians / Medical Attorney

Do you realise that if you are incapacitated and unable to make your own medical or lifestyle decisions, those closest to you may be powerless to control what medical treatment you have, how you are cared for, and where you are accommodated?

When you appoint someone you trust as enduring guardian, you protect yourself from decisions being made on your behalf by those who don’t know you or your preferences.

Estate Administration

When someone dies, often their loved ones don’t know where to start or what to do.

An experienced estate administration professional can ensure the estate is administered sympathetically, efficiently and as inexpensively as possible.
Reduce the additional stress and worry from your loved ones by making sure they have clear direction in the event of your passing or incapacitation. Talk to us about creating the appropriate documentation to protect your estate and your rights.

Owl Financial Management ( OwlFM ) is an Adelaide Based Financial Planning business.

Legal & Estate Planning Services

OwlFM recommends the following Lawyers:



Financial Advisor Adelaide

We are an award winning practice that has been providing financial advice to South Australians since 1969. We really enjoy getting to know our clients and building a relationship with them that lasts over many years. We have a diverse range of clients from mum and dad to AFL players to ASX CEOs. All of which have a diverse range of financial advice needs and very different relationships to maintain. Our clients describe a 'breath of fresh air', personable, expert and people with high integrity. Clients have also mentioned that they are not treated as a number and the advice is specific to them. Working with clients for clients.

Financial Planner Adelaide

The one most rewarding thing about being a financial planner in Adelaide is when you have been working collaboratively with a client in developing and building their goals and objectives and the come to fruition. This give both the clients and myself a real sense of achievement and to use the famous quote 'are we there yet?' and together we can say YES! There has never been a better time to look towards what you want to achieve and start a financial plan so you can get there too.

Financial Planning Adelaide

A person's financial story is like a jigsaw puzzle... "lots of pieces needing to be put into their correct places". A financial adviser can assist a client to put the pieces in the right places by having a series of simple conversations about where a they are currently situated, where they want to be and what strategies can assist them. Every client has a different financial story and goals. Each jigsaw puzzle will always be different. A good financial adviser is experienced at putting together a wide range of jigsaw puzzles. Helping a client put their own puzzle together and seeing their satisfaction is a wonderful feeling.

Barry Phillis and Owl Financial Management Pty Ltd are Authorised Representatives of GWM Adviser Services Limited Australian Financial Services Licensee Registered Office at 105-153 Miller Street North Sydney NSW 2060 and a member of the National Australia group of companies.

GENERAL ADVICE WARNING: The advice on this site may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial advice prior to acting on this information.

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