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9 Estate Planning

Wills and Taxes

After you plan to ensure the right people get the right assets, planning to maximise tax effectiveness can also make a big difference.

Tax can be incurred within an estate when assets are distributed or when the assets are eventually sold by a beneficiary.

After a person dies their assets aren't automatically sold; the estate continues to hold the assets of the deceased in trust for the beneficiaries until all expenses and debts of the deceased are paid and the legislated required time for making claims against the estate passed.

Within this estate there may be investments, bank accounts, personal belongings and a personal residence.

 

 

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