One of the rules of successful investing is to plan your exit well ahead of time to protect your profits. The same can be said about planning your finances for your final exit, otherwise known as estate planning.
Estate planning covers how your financial assets should be distributed after your death.
Because your super is not covered by your Will, careful consideration needs to be given to the nomination of beneficiaries, the tax implications, and the financial wellbeing of your surviving partner and other dependents after your death.
Increasingly, an estate plan also details how you should be looked after later in life if you are then unable to make your own decisions.
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