News

1 in 2 Australians may die without an adequate Estate plan

Posted by Pacesetter Financial Services

It’s estimated that nearly half of all Australians will die without a Will¹, the central tool required for planning an Estate. Here at Pacesetter Financial Services we fear the potential ramifications of this trend for those left behind.

Our senior financial adviser, Hayden Ross, says that the consequences of not having a Will and planning for your Estate can be devastating for bereaved friends, family or other potential benefactors. It is for this reason, that our team at Pacesetter Financial Services, inform our clients that without a Will their Estate will likely be governed by State Legislation, rather than their wishes.

However, you should also note that even with an up-to-date Will, inadequate Estate planning could leave your nominated benefactors with lingering debts or other enduring financial commitments and tax implications they may not be in a position to carry.

It is for these reasons that Hayden and the team here at Pacesetter Financial Services urge their clients to remember that their Estate plan extends well beyond their Will, that superannuation funds, trusts and business assets are some of the areas that may fall outside the parameters of a Will.

As your financial advisers, and not to be confused with Estate planners, we are well placed to coordinate your overarching financial life, traversing investments, superannuation and personal insurances.

Plus in our role as client advocates, we play a pivotal part in facilitating collaborations with a range of aligned professionals equipped with the skillsets required to assist you with implementing Wills and shoring up the type of legacy you wish to leave to those you love.

At Pacesetter Financial Services we act as the coordinator, bringing together our team of experts to help ensure your Estates clearly define how and where you want your wealth to live on, long after your passing.

Liaising with collaborators that may include, but are not limited to, accountants and solicitors whose unique insights and contributions may help to preserve your current wealth by addressing tax efficiencies and asset protection measures for the benefit of future beneficiaries.

For further information regarding Pacesetter Financial Services’ strategies, visit contact us on (07) 3808 2808 or via clientcare@pacesetter.net.au for a full Estate Planning leaflet.

1. https://www.moneysmart.gov.au/life-events-and-you/over-55s/wills-and-power-of-attorney