Estate Planning is an ongoing process and should be started as soon as one has any measurable asset base. As life progresses and goals shift, the estate plan should move to be in line with new goals. Lack of adequate estate planning can cause undue financial burden to loved ones, so at the very least a Will should be set up even if the taxable estate is not large.

Your estate plan articulates your wishes in the event of your death and determines a strategy to provide your family with funds in a tax effective manner and with asset protection as a priority.

No single party should put an estate plan into place - it is very much a collaborative discipline. The financial planner's job is to try and identify if the estate plan is funded properly; the accountant's job is to make sure that the client's affairs are structured appropriately from a tax point of view; and the solicitor's job is to make sure the documentation is all drawn up. 

For business owners, a plan for succession of ownership is essential. We can guide you through the process of providing for business continuity.

The executor of a Will and the Trustee of an Estate are required to perform a number of duties. At Maclean Partners we are experienced in estate planning and can guarantee no deviation from the succession plan for your assets.

The areas in estate administration that we can assist with include:

• Meeting to discuss objectives for your estate
• Confirming assets - Valuations, inventories, and appraisals
• Court approval for a grant of administration
• Documentation involved in estate planning
• Protecting the assets
• Paying taxes and debts
• Estate distribution

Our aim is to work with you and your solicitor to help arrange to get the right assets, to the right people, at the right time. 

Financial Planning Concepts Information Sheet:

• Estate Planning

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