Estate Planning

Australia has now reached a stage where previous generations have accumulated a reasonable amount of wealth. People’s principal homes and their other accumulated wealth means that thinking about transferring assets and leaving a legacy have become an important consideration.

Some family situations are simple whereas others are more complex when it comes to planning how to distribute a family’s wealth.

There are different things to think about when looking to your estate plan. Whilst Australia has no inheritance tax, your estate could pay tax on any remaining superannuation funds you leave behind. Setting up and managing your super correctly as part of an estate plan can help mitigate or eliminate any tax.

Many other considerations include how to leave assets for children and relatives with special needs. What are the options and how do different structures such as trusts help protect the assets for the people that will depend on these assets? 

For the people inheriting your assets, what are the tax repercussions of inheriting and holding assets such as property and shares for a few years before you sell.

These are the sort of questions that Chris can help guide you through and advise on as you look to set-up your estate plan.

Whether you are looking to set-up an estate plan to distribute your assets or have come into an inheritance and looking for direction in managing these assets, Chris Galanis has the knowledge and experience to help you through.