Estate Planning Advisors in Adelaide

We provide you with a holistic plan that considers all your financial affairs – investments, trusts, tax planning, risk insurance, superannuation, retirement, wills and estate planning.

Estate Planning Advisors in Adelaide

Estate Planning is a critical component in reviewing your holistic wealth position and goes well beyond simply having a Will.

When managed effectively it can ensure that your wealth is protected and transferred to your intended beneficiaries in a tax effective manner and in line with your wishes. This is important in reducing stress knowing your family is in good hands.

A large number of Australians will die without a valid will and while many individuals do have a will, it can often be outdated and not accurately reflect the individual’s circumstances or testamentary wishes at the time of their death.

A robust estate plan will help in protecting your assets in the way that you intend. Our financial advisers are here to help your family dynamics and long-term objectives for the transfer of your wealth.

They are in a unique position to ensure that your estate planning provisions are in order and incorporate all the aspects of your ever changing financial situation.

Tailored advice in this area of financial planning is imperative and our financial advisers at Vove Financial Planning can work in conjunction with you and your legal advisers to develop an estate plan that meets your needs & wishes.

We will assist in developing a plan that protects your assets from family disputes, excessive tax and creditors, and can provide guidance in relation to matters such as:

  • Asset protection
  • Establishing a will
  • Testamentary trusts
  • Powers of attorney
  • Philanthropic provisions
  • Tax planning

Upon transfer of wealth to your beneficiaries, your financial adviser is in a position to continue to assist in the management of this wealth by working with the next generation.

This can provide you comfort in knowing that your beneficiaries will have access to sound and proactive advice in managing these assets. Click the link to learn more about wealth creation & how we can help with the management of retirement strategies & advice.

Estate planning is a specialist area and it is therefore important that you obtain professional legal advice in relation to all areas of your estate plan.

However, the Vove Financial Planning advisers are in a position to help you understand many of the estate planning situations that arise and will refer you to legal advice where required.

How to Plan Your Estate and Keep Assets in the Family

The ultimate purpose of estate planning is to ensure that your wishes are successfully carried out after you pass away.

Depending on your individual circumstances, the estate planning process can range from simplistic to extremely complicated.

Our Estate Planning Advisors In Adelaide can assist you to implement an estate plan. We can consider your wishes, advise you of any implications and determine which legal documents you require.

Planning Your retirement

 To arrange a time to talk to one of our Estate Planning Advisors In Adelaide please call us on 08 8376 8168

Sue Whiffen
Sue Whiffen
Malcom's advice was invaluable. His explanations are always very clear. He listens to our concerns and provides wise advise in a clam and logical manner.
ray summerscales
ray summerscales
As always my review with Malcolm went well. Everything was explained to me in detail and in terms that made it easy to understand. Malcolm has many clients but always treats me as if I am the only one. Excellent service from him and all the staff at Vove. Could not be happier or more impressed. Would not hesitate to recommend Malcolm and have done so.
Matthew provides very practical, sensible advice and has assists us in our retirement planning. He is professional and knowledgeable. He also showed a genuine interest in us and made us feel comfortable. With some of our overly honest comments - he joined in our laughter which made working with him refreshing. He then provides choices/options that were aligned perfectly with our goals & risk profile. Highly recommended
Gemma Russell
Gemma Russell
Fabulous financial advice. Totally recommend.
Dave Short
Dave Short
I am getting close to taking early retirement and have been seeking advice on my options in regard to making my available funds last as long as possible. I have found Mathew to be very professional, up-to-date with his knowledge and patient in explaining things to me which are not always in my area of expertise. Would highly recommend anyone to undertake his services as it has proven to be financial beneficial in my particular circumstance. Dave Short
Bernie Walrus
Bernie Walrus
Very lucky to have been recommended Malcolm’s services by a mutual colleague 2 years ago. He has been prompt and professional at all times and I look forward to a long and fruitful relationship in the years ahead. Highly recommend.
Donna Sacca
Donna Sacca
We had a great review meeting with Mat, he provided us with the information we required in a concise and easy to understand way and is always patient and friendly. We appreciate his advice and direction.
Renzo Tommasini
Renzo Tommasini
Malcolm is our financial advisor, and we trust his knowledge and expertise while handling our finances. We find he is very thorough and thoughtful and is highly recommended.
matthew cook
matthew cook
Works through things slowly so you can understand them. Great service and advice.

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Frequently Asked Questions Our Estate Planning Advirsors in Adelaide Get Asked

When you pass away, most assets pass into your estate.

From there, your executor will generally distribute the assets to beneficiaries in accordance with the instructions in your Will (an executor is a person you nominate to administer your instructions).

Some assets, such as those held jointly (e.g. often the family home), those held in trusts, superannuation proceeds, and life insurance policies, are generally non-estate assets.

This means they do not pass into your estate and are not transferred to beneficiaries via instructions in your Will.

Assets held jointly will automatically pass to the other owner(s) in the event of death, however, other arrangements generally need to be made for trust and superannuation assets.

In addition to assets, your Will is also where you state your guardianship preferences. Guardianship preferences will apply if you have any dependents (e.g. children) at the time of death.

A Power of Attorney (PoA) is a legal document in which you nominate another person to act on your behalf. PoA’s can be general or enduring.

General Power of Attorney’s: are usually limited in the power they provide and are often used where you need the attorney to perform a specific function for a limited period (e.g. allowing the attorney to be a signatory on your bank account to pay bills while you are overseas). A general PoA ceases to operate if you lose mental capacity.

Conversely, an Enduring Power of Attorney does not cease if you lose mental capacity. It is, therefore, more permanent in nature when compared to a general PoA. Enduring PoA’s are absolutely crucial if you are elderly, simply because the chances of losing mental capacity are greater.

Despite this, however, the importance of an enduring PoA for all age groups should not be underestimated – accidents or illnesses can strike at any time. The purpose of an enduring PoA is to provide you with an absolute peace of mind. It is essentially a guarantee that the person (or persons) making financial and medical decisions on your behalf is someone you can trust.

This applies to anyone with a superannuation fund and in most cases, is strongly recommended.

A superannuation death benefit nomination (SDBN) allows you to nominate beneficiaries to receive your superannuation proceeds in the event of your death.

This document will ensure that your super proceeds are paid directly to your beneficiaries

To illustrate the importance of an SDBN, if your superannuation proceeds were paid to your estate instead, your super could become subject to additional taxes, and your super could take longer to be paid out to beneficiaries (because estate administration generally takes three months or more) and if your estate was challenged (e.g. by an ex-spouse),

Not only could this delay the payment to beneficiaries even further, but your superannuation would be exposed to the challenge and as a result, your funds may be paid to someone else.

This situation is avoided by completing an SDBN because superannuation proceeds paid to your beneficiaries via an SDBN cannot be challenged.

If your circumstances are more complicated, you may require more comprehensive legal documentation to ensure your wishes are met. In most cases, the added complexity is brought about by one or more of the following:

  • Family situation
  • Your asset ownerships structures
  • Your wishes upon your death