There is a common misconception that estate planning is just something that wealthy people need to do.  Wrong.

While anyone with a lot of assets and capital behind them certainly needs a comprehensive estate plan, it is also important that ordinary Australians have one too.

“But I’m not worth much dead.” I hear you say.

On the surface this may be seem to be the case.  However, if you have ever worked, it is highly likely that you will have some Superannuation squirrelled away and possibly even death benefits that would be paid out upon your death. In short, in death you probably are worth something.  Add to this the reality that most ‘average Australians’ also have equity in their family home along with other investments and you have a strong case for needing an estate plan.

“But I have a Will, surely that is enough?”

It might be, but chances are it may not be enough to ensure that your estate will pass onto your loved ones in the manner that you wish.

At Welden &Coluccio Lawyers we take the time to determine what estate assets and non-estate assets you own.  It is common for people to believe that they own a particular asset only to discover that this asset is, in fact, owned by a family trust (and will not form a part of your personal estate).