Leaving a legacy behind | the advisory

John Addario from Watson & Addario Financial Advisers emphasises the importance of legacy planning beyond wealth. Estate planning ensures loved ones are protected, and their wishes honoured. With an ageing population, issues like dementia make early planning crucial.

John points out that dying intestate can complicate matters. Superannuation, not part of an estate, requires clear beneficiary nominations. John stresses consulting professionals, especially for complex situations like blended families or overseas beneficiaries, as these can trigger significant tax implications.

He mentions addressing capital gains through well-administered estates, like forming testamentary trusts. A solid estate plan handles investment properties or shares efficiently to minimise taxes. John advises seeking expert legal guidance to navigate these complexities, as some countries impose hefty death taxes.

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