Estate Planning Coffs Harbour and the Mid North Coast

Estate planning is a logical continuation to the financial planning process. It is the complete consideration of your assets and liabilities. It is used to both distribute wealth and also to create and protect it.

Proper estate planning is not just a matter of having a will. For the same reason that you may wish to maximise your assets over your lifetime, it is important to ensure that in the event of your death or loss of capacity, both you and your family are provided for in the most effective way.

Estate planning involves three basic elements:

  • Deciding how to divide your estate
  • Making or updating your will
  • Providing the means to make sure your wishes are carried out

A well-arranged and executed estate plan ensures that your assets are distributed according to your wishes, rather than this being determined by the state. It also provides a mechanism for your chosen person to step in and make important lifestyle and financial decisions on your behalf if you are unable to do so yourself.


Before undertaking estate planning you should consult your financial adviser. Working with your adviser and accredited estate planning specialist can help ensure your assets are distributed as per your wishes in a tax effective manner.

Estate planning can benefit everyone; it doesn’t matter what the size of your bank account is or if you are married. At its most basic, we should all have a will and power of attorney as these can help to lessen the stress for grieving families during an already painful time. These documents should be reviewed every three or so years or at major life events such as marriage, birth of a child or divorce.

The advantages of obtaining advice from an estate planning specialist are too numerous to list in their entirety. However, the advantages can include:

  • Asset protection for your beneficiaries
  • Tax advantages (including reducing the income tax payable by beneficiaries, and avoiding unnecessary taxes on your estate such as capital gains tax)
  • Consideration of complexities such as the effect of divorce, remarriage, and blended families
  • Consideration of superannuation and other mechanisms such as family trusts, which are not necessarily covered by your will
  • Advice as to how to minimise the chance of your will being contested

Estate Planning Coffs Harbour

Contact RetireInvest Clarence Valley and Mid North Coast to book your free consultation today on 02 6643 4477.