One of the considerations of financial planning is determining how you can minimise estate tax, reduce legislative risk and maximise the legacy you leave for your loved ones. In this real life client scenario we explain how we achieved this for our clients whilst giving consideration to their goals. As part of our comprehensive statement of advice, O’Brien Financial Advisors diligently analysed and evaluated Ron & Carol’s* financial situation and…  Read more

Estate planning involves much more than having an up-to-date Will. It is important to ensure that your assets are distributed in the most effective manner and without adverse tax consequences for your beneficiaries. What is estate planning? Estate planning involves considering what will happen to your assets upon the death of you or your partner or if you become mentally incapacitated and unable to manage your own affairs. You may…  Read more

For many people, super is one of the best ways to grow your wealth, as it provides significant tax concessions to help you save for retirement. Downsizer contributions are a valuable way to boost your super as you approach retirement. What is super? Superannuation is a specialised type of investment structure designed to help you accumulate a significant level of savings for your retirement. To encourage you to save for…  Read more

To many people, financial planning is perceived as something only for the wealthy. In fact, financial planning is about having long-term and short-term financial goals and developing a plan to achieve those goals, no matter your financial status. It’s about knowing how to make the most of your money – whether that’s putting a little extra into savings one month or paying off a bit of debt more quickly. The focus…  Read more

Most superannuation funds will pay a sizeable death benefit if you die. Usually your super, which includes your account balance and any superannuation death benefits, will be paid to your dependents. This death benefit might provide a big difference to family members who were dependent upon you. This might be your spouse or children but could also be other family members or friends. Who is a tax dependent? A current spouse,…  Read more

Catching up on unused concessional contributions to super is a good way to boost your superannuation if you have had an interrupted income or haven’t been in a position to put as much into super as you’d like. Taking time off work to study, travel or care for your family, or prioritising other financial committments, often means you may not be in a position to make concessional contributions to super.…  Read more