Understanding

- An effective estate plan includes tax effective Wills to protect your estate and the interests of your beneficiaries in the event of your death.

- Jointly held assets, trust assets and superannuation, however, are not necessarily dealt with by the terms of the Will. These are usually considered ’non-estate’ assets for estate planning purposes.

- However there may be specific State legislation that classifies non-estate asset as ‘notional estate’ for the purposes of a Family Law challenge. It is therefore important to have a considered and comprehensive estate plan to ensure that all assets are transferred according to your wishes in the most effective and efficient manner.