Death, sex, and money are taboo topics most of us avoid in polite conversation, but we shouldn’t avoid addressing them all together.
When a loved one dies, the grief alone is enough to deal with, let alone adding family conflicts regarding money to the mix.
According to ASIC, it’s estimated that nearly half of the Australian population will die without a will in place. That must sound crazy, but unfortunately my experience as a Certified Financial Planner confirms that estimation.
The sheer number of clients who come to see us about family conflict following the death of a parent, spouse, or other relative is mind blowing. Especially since it’s a simple problem to prevent.
While it’s never nice to think about death, as Benjamin Franklin wisely noted: “in this world nothing can be said to be certain, except death and taxes.” Both of life’s inevitabilities are what we’re here to help you plan for.
If you want to avoid conflict after the death of a loved one, I can’t stress enough how important it is to have wills and powers of attorney in place. And it’s something we can help with, as we work closely with a specialist estate planning law firm, based in Melbourne, that provides the structure for us to help our clients put together a will.
Of course, when it comes to estate planning, wills and power of attorney, it’s not a just-add-water situation. Some family situations are more complex than others. Deciding what happens to your assets after your death requires reflection and courage. Which is why you’re only as alone as you choose to be. There are many professionals available to support you through the process. We at Financial Aspects are happy to guide you.
It may feel uncomfortable, but getting your will and estate planning sorted out saves your loved ones from future disharmony.