Estate planning should take into consideration two major scenarios:

  • Death of a person;
  • Loss of legal capacity of a person

Another way of explaining Estate Planning is that it effectively plans financially for the loss of one’s capacity due to death or disability (taking taxes, wishes, directions of the primary person including to a varying degree other beneficiaries’ interests).

This estate plan normally retains the said person as the primary beneficiary while they are alive (regardless of incapacity) and then the secondary beneficiaries (who become primary) on the death of the person (original primary beneficiary). OK, so that didn’t help but let’s move on…

Planning for your death:

Sorry death is not an option, like everyone else- you will die!

This involves developing a strategy to deal with your assets after you die – the legal instruments and structures, such as a will, you put in place to transfer your assets in the event of death.

Some say tax is a major consideration in estate planning, and strong governance relating to the tax aspects of estate administration can help manage the risks. It is important but there are other major considerations.

  • Are all the beneficiaries going to be treated equally?
  • Have you already provided for any beneficiary?
  • Do any of the beneficiaries have special circumstances?
  • Would any of my stated beneficiary contest the will?
  • What assets will be part of the estate?
  • How can I minimise disgruntled beneficiaries from undermining my testamentary disposition; that is, spoil what I want to happen with my funds when I die!
  • Whom can I trust to provide me with estate planning advice?
  • Who would be the best executor and trustee of my estate?
  • Is a testamentary trust appropriate?
  • What the hell is a testamentary trust?
  • Does superannuation form part of my estate?

More questions than answers, but knowing the right questions will provide half the right answers (old Chinese proverb) …

Planning for your incapacity:

This is a real possibility for many. Medical science has been great for keeping our bodies going but not that great for our minds…

Medical treatment and lifestyle decisions will need to be considered.

It is important to note different states have different ways of dealing with medical and lifestyle decisions for a person who is mentally incapable of making such decisions. Such methods may include:

  • Power of Attorney (medical treatment) – attorney has the power to give and in certain circumstances, withhold consent to medical treatment on your behalf
  • Enduring Guardianship – guardian has the power to make personal and lifestyle decisions for you should you lose mental capacity, including decisions as to where you live and who with • Enduring Power of Attorney – attorney has the power to act on your behalf during your life, in relation to your investments and other financial matters
  • Advance Health Directive – a document in which you can express your wishes about medical treatment and how you would like your body to be dealt with in the event that you are unable to make these decisions for yourself.
  1. Living Wills- It is a statement of my preferences to my enduring guardian(s) and if no guardian(s) being appointed, then to my physicians and other healthcare providers as to my wishes with regard to specific treatments or procedures to use in the event of my incapacity. 

SFR ESTATE PLANNING SERVICES ARE HIGHLY REGARDED.

Let us help you through this very important matter that effects everyone!

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SFR Planners offers financial advice across the full spectrum of disciplines

Financial Planning
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Whether you are investing as an individual or as a group, we will help you find the best self-managed superannuation fund to meet your needs. There are many options for tailoring your fund to suit both your desired outcomes and your current means.
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Taxation Advisers
The SFR Advisory Group provides clients with in-house, full-service Accountancy expertise that delivers tax compliance and reporting services along with strategic advice that adds value to the client’s comprehensive financial plan.
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Australian Super
In Australia, retirement income is funded through a mix of personal savings, a government pension and superannuation (super).
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Aged Care & Centrelink
Aged Care & Centrelink
Aged care rules are complex, with forever changing rules & costs buried in fine print which can be quite distressing for you, including families whom just want the best with available funding.
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Property Investment Advisers
Buying a property can be one of the most stressful experiences anyone will ever face. There is a lot of responsibility that comes with this, not to mention a lot of your money being spent on it.
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Self Managed Investment Advisers
Self-directed investing is the activity of individual investors trading stocks, property, bonds, funds, and other securities on their own behalf.
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Regardless of whether you are buying your first home, upgrading to your next home, buying an investment property, or refinancing an existing loan, SFR Advisory Group offers a range of financial services, home loan and mortgage advice to assist you.
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Testimonials

  • We have been dealing with SFR ever since we had a super and we have dealt with Dean from the beginning. Our fund has done well, thanks in no small part to Dean’s contribution. We have now gotten them to keep all our books. Above all, we have now become friends and have mutual trust. We will certainly recommend his company.
    David G
  • For a number of years my late husband and I have trusted Self Funded Retirement Planners (WWW.sfradvisory.com.au) to look after our financial affairs. During that time, Dean and Garth's advice produced excellent returns in buying and selling our shares. When my husband died, they advised me and helped me with legal and financial matters. I have continued with the SFR Advisory Group due to their friendly, informative manner when providing me with up to date advice concerning my Superannuation and Tax. I couldn't manage my Superannuation financial matters myself. Especially due to the efforts of Dean and Garth, I have peace of mind; as they have ensured that I have a secure retirement. I have complete trust in SFR Avisory to continue to work in my best interest. Thank you Dean and Garth. Heather M. 15th January, 2019
    Heather M
  • “Have a Good Day”, in fact have lots of them “ALL THROUGH RETIREMENT”!
    In my experience, it is a rare occasion that you find on taking that (mythical) step we call “Retirement”, that we are ready and organized. I wasn’t.

    Yes, I knew I had to plan for this and I wanted to be responsible and there were so many questions. Best plans of mice and men, out of the blue, to take advantage of an unexpected situation I had to do it NOW! I was only 58 and still new to the Country, minimal savings, mortgage, kids at college…you know what I mean.

    I went on a six month’s survey, I went to every seminar, researched all that was on offer. It seemed to be, no matter what, you handed over whatever you had and lost all control! You should find out, it’s not going to cost you anything and SFR Planners have all the answers.
    I’m in my eighties now and have been with them for seventeen years. Garth and his team won’t let you down and it still remains your show.
    Tony D
  • I have been a client of SFR Planners. since they were formed in 1994. Prior to that I was a client of a company called Terrace Counsellors from 1992 and my advisor was Mr Garth Lovelace the now managing director of SFR Planners. Garth Lovelace advised me that he was about to start his own company and as my prior adviser before I met Garth had retired I was happy to become a client of SFR Planners.
    What attracted me to SFR Planners was that Garth had with him other advisors Dean Sampson and others and all were ethical and understanding people.
    The following is why this company is to be admired,
    1. They are not affiliated with any public company and that means that do not direct investments to companies where there could be double commissions.
    2. There are no trailing commissions.
    3. There is no churning of investments.
    4. Meetings with your advisor are included in yearly payments so no extra charges.
    5. Other services can be accessed I.E. Taxation Returns, Property Advice etc. on request.
    The understanding and friendly advice of clients personal problems have helped many including myself.
    I strongly recommend this company.
    Mal M
    (Retired Transport Manager / Bookmaker – WA)
  • Self-managed super is not a headache for my family and me thanks to SFR – we have enjoyed many years of peace of mind and hassle free investing. We derive enormous comfort from the calming advice we get from our SFR Adviser who is always available and responds to our needs swiftly. All our wealth is managed through SFR and we are very glad that it is
    Michael C
    Barrister - WA