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Estate planning
Estate Planning
You’ve spent years building your asset base. Estate planning makes sure it ends up with the people you love, the way you want.
I coordinate it all as your CFO: your super, your structures and your shares, alongside an estate planning solicitor we work with.
General information only. Not personal advice.
Legacy
What do you want to leave behind?
Legacy is a big part of my day to day conversations with clients. Most want to know two things: will they be okay, and what can they leave their children?
Our retirement income modelling answers both. It includes everything on your balance sheet, even an inheritance you may receive one day. So you can see what kind of legacy you’ll be able to provide.
Then we make sure the right documents and structures are in place to deliver it.
Who does what
One plan, the right specialists
- Wills, powers of attorney and testamentary trusts. Prepared by an estate planning solicitor we work with.
- Binding death benefit nominations on your super. I look after these myself.
- Your structures, shares and investments. I make sure they line up with your will and your plan.
I brief the solicitor on your strategy, so the documents match the plan. You don’t have to explain your finances twice.
Testamentary trusts
Does your will protect your children?
Most of my clients have young children. Many made a will 5, 10 or 15 years ago. And 95% don’t have a testamentary trust.
What is a testamentary trust?
It’s a trust written into your will. It only starts when you die. Instead of your children inheriting directly, their inheritance goes into a trust, run by a trustee you choose. The trustee can pay for their school, living costs and future, and you decide when they get control.
The benefits
- Tax. Income from estate assets paid to children under 18 is taxed at adult rates, including the tax free threshold. Without a trust, it’s taxed at penalty rates.
- Protection. The assets sit in the trust, not in your child’s name. That can help protect their inheritance from a future separation or bankruptcy.
- Control. You choose the age your child takes control, not 18.
- Flexibility. The trustee can spread income across your child’s own family each year.
Things to consider
- Since 2020, the tax benefit only applies to assets that come from your estate. That includes super paid to your estate.
- It costs more than a simple will, and each trust needs its own tax return.
- Protection isn’t absolute. Money paid out to your child can still be claimed by creditors.
- The 2026 Budget proposes a 30% minimum tax on discretionary trusts from 1 July 2028. Genuine testamentary trusts are proposed to be exempt. It isn’t law yet.
Your super
Your super doesn’t automatically follow your will. Who receives it depends on your nomination with the fund.
A binding death benefit nomination tells your super fund exactly who gets your super. Some lapse after three years if they aren’t renewed, so we check them at your reviews. A common setup for young families is a binding nomination to your estate, then your will directs that super into each child’s testamentary trust.
Who receives your super also matters for tax. Super paid to a spouse or to children under 18 is usually tax free. Super paid to adult children can be taxed.
The appointor
The appointor can remove and replace the trustee. In practice, they control the trust. Choose someone mature and trustworthy. You can name two to act together, and you should always name who takes over.
One trust for each child
Each child’s inheritance is tracked separately, so there are no sibling disputes. If one child separates or goes bankrupt, the others aren’t affected. And each child’s trust can have its own terms, like the age they take control.
If your will is more than 5 years old, it’s time to review it.
Structures and shares
Trusts, companies and RSUs
- Family trusts. Assets in a family trust don’t pass under your will. Who controls the trust after you’re gone is set by the trust deed, so it needs to be planned.
- Investment companies. Your shares in the company can pass under your will, so your will and the company need to work together.
- RSUs and company shares. Vested shares form part of your estate. What happens to unvested RSUs depends on your company’s plan rules.
More on tax structuring and employee share scheme advice.
When to review
Life changes, so should your plan
An estate plan isn’t a set and forget document. Review it when life changes:
- Marriage, separation or divorce
- A new child or grandchild
- Buying property or setting up a trust or company
- Receiving an inheritance
- A big change in your wealth, like a large RSU vest
We check your estate plan at your yearly progress meeting. I act as your CFO, so I project manage the solicitor and make sure everything stays up to date.
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What clients say on LinkedIn.
Questions
Frequently Asked Questions
Does my super follow my will?
No. Your super fund pays your super based on your nomination, not your will. A binding death benefit nomination makes your wishes clear.
What is a binding death benefit nomination?
It’s an instruction to your super fund about who receives your super if you die. Some lapse after three years, so they need to be checked.
Do you write wills?
No. Wills, powers of attorney and testamentary trusts are prepared by an estate planning solicitor we work with. I brief them on your plan.
What is a testamentary trust?
A trust set up in your will that starts when you die. A trustee you choose manages your children’s inheritance, and income from estate assets paid to children under 18 is taxed at adult rates.
Should each child have their own testamentary trust?
Often, yes. Separate trusts avoid sibling disputes, keep one child’s separation or bankruptcy away from the others, and let each trust have its own terms.
Who should be the appointor?
Someone mature and trustworthy, like a sibling, close friend or adult child once they’re old enough. You can name two to act together, and you should always name who takes over.
What happens to my family trust when I die?
It doesn’t pass under your will. Control passes as set out in the trust deed, so it needs to be planned with your will.
How often should I review my estate plan?
Every year, and whenever your life changes, like a marriage, separation, new child or big change in your wealth.
Plan your legacy
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