Understanding Estate Planning

At Steering Wealth, we believe that estate planning is a crucial aspect of financial security, regardless of your age or current health status. This is because accidents and injuries can occur to Australians regardless of age or current health status.

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Our mission is to help young Australians in their 20s and 30s navigate this complex field to ensure that their future and the future of their loved ones are protected.

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The Importance of a Will

One of the fundamental components of estate planning is having a valid and up-to-date Will. A Will is a legal document that outlines how you would like your assets to be distributed after your passing. Without a Will, your estate may be subject to the default rules of intestacy, which could result in a distribution that does not align with your wishes. For young and healthy Australians, having a Will may seem unnecessary, but life is unpredictable, and it is always wiser to be prepared.

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Powers of Attorney

Another critical element of estate planning is establishing Powers of Attorney. This legal authority allows someone you trust to make decisions on your behalf if you are unable to do so. This can include managing your financial affairs or making medical decisions. For young individuals, particularly those just starting their careers or families, having Powers of Attorney in place provides an additional layer of security and peace of mind.

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How Financial Planners Can Help

While financial planners are not lawyers, they play a vital role in the estate planning process. At Steering Wealth, we use our extensive knowledge to identify potential issues and develop tailored financial solutions to address your estate planning needs. We work closely with legal professionals to ensure that your plans are comprehensive and legally sound.

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Identifying Potential Issues​

We are adept at spotting potential concerns that could affect your estate. This includes understanding the tax implications of your assets, ensuring that your beneficiaries are appropriately designated, and that your financial strategies align with your overall estate planning goals.

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Developing Financial Solutions

We provide personalised advice to help you create a robust estate plan. This can include strategies such as life insurance, trusts, and other financial instruments that can protect and grow your assets, ensuring they are passed on according to your wishes. Our goal is to offer solutions that not only address your current circumstances but also adapt to your future needs.

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