Estate Planner Test

estate-planningPlanning for the future of your estate once you pass away can be a real challenge to navigate, even if you already have a will in place.

Maybe this is why so many Australians pass away every year without proper estate planning in place, leaving those closest to them with no idea how they ought to distribute their belongings. While it might be appealing to take the ‘she’ll be right’ approach, it is sure to put greater pressure on those who you leave behind.

Estate planning isn’t just beneficial when you pass away, it is also necessary in case you are permanently disabled or ill. Assigning a person to make decisions on your behalf can make a big difference to the outcome of these events, and is a responsibility you definitely want to get right before it’s too late.

Financial issues a big concern

When it comes to handling the finances of your estate, there are a lot of different factors that need to be taken into account. Disputes can easily arise within a family over an estate, with lump sums often broken up by the legal system along lines which often don’t reflect your wishes.

At the same time, distant relatives may suddenly appear to demand a share of your wealth, causing further friction and often acting against your own wishes. Unless you can put in writing how you wish your estate to be divided, different people can easily sue for a share of your possessions.

While the details of your estate are mechanically processed, those ongoing financial demands aren’t going away. After all, who is going to be responsible for your debts and expenses? What fate will befall your superannuation scheme? And who will provide for your children, elderly parents or pets?

Even your ongoing household expenses can suddenly become a substantial burden. Without the regular income you provide, bills and mortgage payments can easily stack up, with very little relief for your grieving family.

If you are a business owner, there is also a new range of succession planning that needs to be undertaken in order to ensure your company can continue to operate with minimal disruption. Without taking these steps, your business partners and family will be left with little idea how to handle affairs in your absence.

Estate planning the only solution

If you don’t have an estate plan in place, it is important to secure one as soon as possible.

Fortunately, Bruce Insurance has a dedicated online estate planner tool to help you get started on this process as soon as possible. This service is completely free and lets you easily understand the demands of your specific situation, with a set of simple yes/no options for every section.

These questions cover a range of different areas, from the position of your superannuation to your family status and business responsibilities. With a confidential system, you can be sure that your vital details are only being used to get the right level of estate planning for your needs.

The test is quick and easy, taking less than 15 minutes. With such fast turnaround, it won’t be long before you have an iron-clad system in place.

Once you have completed the questionnaire, the results will be emailed to you, giving you a detailed breakdown of your requirements, based on the answers you have provided.

Another version of your results will be sent to our advisers at Bruce Life, letting us know whether you need any further work on your estate planning. From there, you can work with our staff to ensure the right processes are in place to fulfil your wishes.