Getting your financial affairs in order is important to ensure your assets are distributed according to your wishes and your loved ones are looked after. 

What is estate planning?

Estate planning is the process of making sure that your property, investments and other personal assets are distributed to your beneficiaries in the way you intended. By organising your legal and financial affairs, you can help ensure your assets are transferred in a tax-effective manner and according to your wishes.

An estate plan can also include making plans about how you will be cared for if you’re no longer able to make decisions for yourself. This can ease the burden on your loved ones of the stress of having to make these types of decisions.

It’s important to note that your TelstraSuper benefit (including any insurance component) doesn’t automatically form part of your estate, unlike your personal assets, such as your house, property and investments. However, you can nominate who you want to receive your superannuation benefit on your death by completing a binding nomination.

More about nominating beneficiaries

Attend an upcoming webinar or seminar on estate planning. From setting up a will to receiving an inheritance, the session will explain steps that people of all ages should take to create a strong and tax-effective estate plan. You can RSVP online. 

Next steps

• make a will
• learn about leaving an inheritance
• check the rules and restrictions around gifting to family.