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 future aspirations. We crafted cashflow and asset projections that incorporated their specific goals, ensuring that their desires for the future were considered and accounted for.

One of their primary objectives was to maintain the ability to travel until they reached the age of 80, allowing them to create lasting memories and enjoy their retirement to the fullest. Additionally, they wished to provide financial assistance to their two adult children, ensuring a secure and comfortable future for them as well.

Ron, who is currently 65 years old, expressed his satisfaction and enjoyment in his work, while Carol, who recently turned 60, has chosen to cease employment. In light of their respective circumstances and after looking at their superannuation history, our team of financial advisors has provided them with tailored advice that not only guarantees estate tax savings but also reduces legislative risks that may impact their financial stability.

By implementing strategies in our tailored statement of advice, Ron & Carol* have been able to increase their tax-free income to approximately $89,000 pa. They have also achieved approximately $99,000 in estate tax savings and increased the net inheritance their adult children will receive when they both pass away in future.

Through our meticulous financial advice and strategic planning, Ron & Carol* now possess a clear and concise financial roadmap. This roadmap instils confidence in them about their current financial position and reassures them that they are on track to achieve their retirement and lifestyle goals. It serves as a guiding light, ensuring that they make informed decisions and remain focused on their objectives.

At O’Brien Financial Advisors, our aim is to attain win-win outcomes for our clients and their families. We believe that by providing sound financial advice and guidance, we can help our clients secure a prosperous future while also benefiting their loved ones. With our expertise, we strive to create a positive impact on the lives of our clients and those dear to them.

Our Financial Advisors, Nellie Fung and Tracee Pang, offer an initial no-obligation consultation so you can explore how financial planning advice can put you in a better position to live the life you desire. Please contact us if you are interested to learn more.

*Names changed to protect the privacy of our clients