7 Reasons To Have A Will
There is no obligation to make a Will, but having a Will offers many benefits, both financial and personal. Here are some reasons to have a will.
Leave a Legacy in Your Will
A legacy is simply a gift of cash in your Will.
Life Interest or Use and Enjoyment Trust?
After you die, you might want a spouse or a child to have the benefit of a certain asset for the rest of their lives. You can achieve this a number of ways in your Will: grant a life interest, or to create a use and enjoyment trust, and to give the specific person the benefit of that trust.
Who Can I Leave My Superannuation Death Benefit To?
There is only a small range of people who are eligible to receive a superannuation death benefit directly.
If super is not my estate asset, what else is not my estate asset?
In simple terms, estate assets are assets that you own in your personal name at the date of your death. These are the assets that are dealt with in your Will. Non estate assets are dealt with otherwise.
Your Superannuation is Not Your Asset
For many people, their superannuation is their biggest asset. However, your superannuation is not an estate asset to be dealt with under your Will. Instead, it is an asset held on your behalf by the trustee of your superannuation fund.
Terminally Ill – Should I take my super out or not?
If you know you’re going to die, you will want to do what’s best for your family, but you’re probably also going to want to have a bit of fun while you’re still feeling ok.
Planning Your Exit Strategy
Your exit strategy is your succession plan from your small business.