What will happen if you die?
Death is not a favourable topic, but an important one; what will happen to your life-long assets when you die? Most of us don’t like to think about the reality of what will happen when we pass on but it brings greater peace of mind to know you are prepared and that your loved ones will be taken care of when it does occur.
We have a choice to either be involved in planning our family estate when we are able to, or somebody else will do it for us, when we no longer can.
Put simply, Estate Planning involves developing a strategy so you know where your hard-earned money will go after you die. At the most basic level, it involves preparing a valid Will. Beyond that, it involves the assessment and protection of your assets and considering taxation as part of estate administration.
It is important to have a process in place where you continually review your strategy, especially if your life circumstances change.
If you get hit by a bus tomorrow, would your loved ones know where your important documents are kept? Do your children know where your Will is? Do they know your wishes? Do they know how to contact the family accountant and what the special number is? The confusion that ensues over where mum or dad’s Will or Power of Attorney was placed, occurs more often than not.
At Align Financial, we provide a service called Now Sorted, an innovative online tool that delivers peace of mind to you and your family by bringing together all your important documents. It is a powerful estate planning service that organises all the essentials not just for when you die, but also for everyday planning. It is a fully integrated estate planning tool that not only stores your documents by encryption but also allows you to enter explanatory text for each file and produce one-click reports on your estate by joining the key information that you enter.
Watch the video below to find out more: