backup and estate planning

Having a back up plan is an important aspect when it comes to planning for your life and the unexpected events. Your back up plan includes the areas of estate planning and risk management planning or insurance.

Your estate plan which looks at developing a strategy and solution which will achieve the outcomes you would like in the event of your death or incapacity.

A properly considered back up and estate plan involves the following aspects:

Your Will: is the central part of any estate plan. It sets out how you want your assets to be distributed.

Power of Attorney: operates in circumstances before death where you may be suffering from either a temporary or permanent legal disability and are unable to make decisions for yourself.

Testamentary Trust: can be used in conjunction with a will to provide for ongoing control of your assets after death. It may be used when there is a concern that the assets are at risk particularly important for blended families, divorce or legal proceedings involving your children.

Your Risk Management Plan: general and life insurances are important for you and your family if the worst happens. Lump sum or income replacement insurances can provide for you or your family if the worst happens and is a crucial part of your overall back up plan if you do not have enough asset to self insure.

We offer a straightforward approach to insurance and provides a wide range of insurance solutions.

Income protection cover

Income protection cover helps you meet your financial commitments by providing regular payments if you are unable to work due to sickness or injury.

Trauma cover

Trauma cover provides you with a lump sum payment if you survive for 14 days after the occurrence of a serious medical condition (such as cancer, stroke or heart attack).

Total and Permanent Disability (TPD) Cover

TPD cover provides you with a lump sum payment if sickness or injury leaves you totally and permanently disabled.

Life cover

Provides a lump sum payment in the event of your death or terminal illness.

It isn’t nice to go to the topic of death, disability or loss however it is important to have the discussion with your family members, partner and professional advisers.

moneymechanics. can assist you in planning for the unexpected so you can get on with the good things in life.