Consequences of not having an estate plan

Category: Estate Planning   Posted: 14,Jan 2019

Estate planning is more than just managing the often significant risks of transferring clients' hard earned wealth. Traditionally, technical, legal and tax discussions around estate planning tend to focus on strategic advice and instruments, ducument drafting and execution, togehther with identifying and managing any tax implications, including non-estate assets such as superannuation.
Estate planning strategy should consider how an estate plan will benefit and protect the client, their family, friends and any business or philantropic interests. Consequences of not having or having a poorly drafted estate plan are numerous and can echo through the generations not just financially, but emotionally.