Think about estate planning and you automatically think about your will. A current will is vital to ensuring that your estate is distributed according to your wishes and in the most effective manner.
However an effective estate plan is not just about your will. Many assets will not be distributed according to your will. Your family home (if owned jointly) is a good example. Your superannuation funds are also not an estate asset and the treatment of these funds upon death can be quite different to your other assets.
An effective estate plan will consider your overall situation and beneficiaries, special circumstances, how your estate will be funded and the taxation treatment of benefits.
