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Welcome to The Winner's Playbook, a podcast where Steve & Josh (Directors / Financial Advisers), chat about everything to do with money, careers, success, challenges, mindset and much more!
In this episode, Josh and Steve discuss the complexities of estate planning. They discuss the nuances of estate taxes and how superannuation can be subject to taxes upon death, even though Australia doesn't have a death tax.
Steve highlights the importance of proactive planning and structuring to minimise these taxes. Josh shares a real-life example where strategic adjustments to superannuation can significantly reduce tax burdens for beneficiaries. They also touch on early inheritances and the impact of asset gifting on Centrelink assessments.
Tune in to gain insights and practical tips for managing your estate and superannuation.
This episode covers:
[0:21] Introduction
[2:50] What is estate planning and why is it important?
[4:31] Key components of estate planning, including wealth protection.
[5:52] How estate planning affects your superannuation beneficiaries.
[9:08] Steve shares his estate planning experience.
[15:50] Importance of working with a lawyer on estate plans.
[16:20] Taxes on death and their impact.
[17:40] Josh discusses superannuation and inheritance taxes.
[19:51] Centrelink’s look-back period before pension age.
[20:20] Final Wrap-Up
The discussion highlights the importance of getting professional advice early to handle these complex financial issues well.
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Get in touch with Steve:
Steve Sloane - Founder & Managing Director (linkwealth.com.au)
Get in touch with Josh:
Josh Lee - Director & Financial Adviser (linkwealth.com.au)
Steve's TikTok: https://www.tiktok.com/@stevesloanefinadviser
Josh's TikTok: https://www.tiktok.com/@joshleefinadv
Sign up to Steve's newsletter, Finance Simplified: https://www.linkwealth.com.au/newsletter
Our Financial Services + Credit Guide: https://www.linkwealth.com.au/fscg
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General advice disclaimer: The information contained within this podcast is general in nature and does not take into a
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Want to find a Adviser that suits your financial needs:
https://www.linkwealth.com.au/
Get in touch with Josh:
https://www.linkwealth.com.au/josh-lee-link
Get in touch with Billy:
https://www.linkwealth.com.au/billy-norman-link
Josh's TikTok: https://www.tiktok.com/@joshleefinadv
Billy's TikTok: https://www.tiktok.com/@billynormanfp
Sign up to Link Wealth Group’s newsletter, Wealth Simplified: https://www.linkwealth.com.au/wealth-simplified
Our Financial Services + Credit Guide: https://www.linkwealth.com.au/financial-services-and-credit-guide
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General advice disclaimer: The information contained within this podcast is general in nature and does not take into account your personal circumstances. Please reach out if you wish to discuss your personal situation.
