Finding Financial Peace Of Mind

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Date: 01/07/2011

Peace of mind is a valuable commodity, especially where your financial affairs - both short and long term - are concerned. Here's some timely advice.

A New Financial Year is a good time for making some resolutions about getting your affairs in order - and gaining some peace of mind along the way. So says tax specialist Michael Jones of Cummings Flavel McCormack, and he has advice this month on two fronts. In the short term, clients should work with their accountants to get their tax and financial affairs squared away. For the longer term, they should look at theirsuperannuation, especially if it involves a self-managed fund. Super's not part of a will, so some careful estate planning is needed to make sure the right trustees are appointed after your client's death, and they follow the intentions of the deceased in distributing the benefits. Whether or not to make a Binding Death Benefit Nomination is one of the things that should be considered.