Estate Planning
At Caubrooks, our team is dedicated to providing tailored estate planning services that cater specifically to business owners and their families. We assist you in making informed legal and financial decisions, ensuring your assets are managed and protected effectively with the help of our network of legal and financial planning professionals. Our legal partners can assist you with drafting essential legal documents, such as valid wills and powers of attorney, helping ensure that your financial decisions and estate assets are securely managed according to your wishes, even if you lose the capacity to make decisions. We also specialise in establishing testamentary trusts, which are vital legal documents that can help manage the tax consequences of estates and safeguard inheritances for future generations.
We focus on transferring assets into family trusts and other legal structures, effectively protecting your estate from potential claims while optimising tax efficiency regarding income and Capital Gains Taxes. By designating beneficiaries for insurance policies and superannuation funds, and providing clear directions through binding death benefit nominations, we prepare your estate to handle future tax obligations and distribute assets as planned.
Why Choose Causbrooks.
Our team is committed to providing professional advice and strategies tailored to protect your assets and secure your legacy for future generations.
Tailored Estate Plan.
Establishing a valid will and other necessary legal documents is essential. We can help you to ensure your estate assets are managed and distributed according to your wishes. By incorporating tools like testamentary trusts and enduring powers of attorney, we ensure your personal circumstances are respected, even if you lose the capacity to make decisions yourself.
Manage Your Tax Obligations Effectively.
Understanding the tax implications, including Capital Gains Tax and income tax, is crucial in estate planning. Our team can guide you in structuring your estate in a tax-effective manner, helping you optimise your tax liability while ensuring compliance with all legal requirements.
Regularly Review and Update Your Plan.
Estate planning is an ongoing process. Life changes, such as new family members, a new business venture, or changes in financial circumstances, necessitate regular updates to your estate plans. We encourage you to regularly review your plans with our experts to ensure they remain up to date and reflective of your current desires and situations.
Our team is committed to providing professional advice and strategies tailored to protect your assets and secure your legacy for future generations.
Set Up Your Estate Plan with Causbrooks
At Causbrooks, we’re dedicated to helping businesses with their taxation and accounting needs. If you’d like to discuss your own situation, please complete the form below.
Our team of dedicated accountants is committed to providing the best possible experience for our clients, and we believe that our combination of longevity and experience in the industry and our commitment to embrace innovation and change make us uniquely qualified to do so.
Importance of Having an Estate Plan.
Estate planning is more than just writing a will; it’s about ensuring that your assets are managed and transferred according to your wishes after your passing. This process helps prevent legal complications and ensures your family members are taken care of in your absence. By regularly reviewing your will with trusted advisors you ensure that your estate plan adapts to changes in your life circumstances and changing legal standards.
Legal Considerations for Effective Estate Planning.
When planning your estate in Australia, it's important to be aware of several key legal considerations to ensure that your estate plan is both comprehensive and compliant:
Compliance and Validity.
Your estate plan, including any wills and trusts, must adhere to the legal standards set by relevant legislation, such as the Succession Act or Wills Act, which can vary from state to state. To ensure all documents are valid and enforceable, it's wise to consult with legal professionals who can guide you through these requirements. This is crucial to protect your assets and ensure they are distributed according to your wishes.
Tax Considerations.
Understanding the tax implications of your estate plan is essential. This includes how Capital Gains Tax, stamp duty, and income tax could affect the transfer of your assets to beneficiaries. Effective planning should aim to optimise tax liabilities in a tax-effective manner.
Capacity and Family Law Impacts.
It is vital that your will is made when you have the full capacity to understand the implications of your decisions, which means being of sound mind. Circumstances, such as medical conditions affecting mental health or clarity, should be carefully considered for their impact on the creation of your will. Additionally, family law issues, such as separation or divorce, can significantly impact your estate plan. Adjustments might be necessary to reflect changes in personal circumstances and to ensure your estate plan still aligns with your intentions and provides for your family members as intended.
Protect your assets Today!
About Causbrooks.
Causbrooks gives you a client manager supported by a team of knowledgeable accountants. We’re here to take the guesswork out of running your own business. Our accountants have much experience working with small business owners.
Get in touch with us to set up a consultation or use the contact form on this page to inquire whether our services are right for you.
Disclaimer.
Any advice contained in this document is general advice only and does not take into consideration the reader’s personal circumstances. Any reference to the reader’s actual circumstances is coincidental. To avoid making a decision not appropriate to you, the content should not be relied upon or act as a substitute for receiving financial advice suitable to your circumstances.
Contact us today for a consultation.
Contact us today to learn more about how our accounting services can benefit your business. We look forward to hearing from you and helping you achieve financial success!
