A financial attorney is someone who you have nominated to deal with your legal and financial affairs, if you were to lose capacity due to illness or injury.
To nominate a financial attorney, you must complete a document called an ‘enduring power of attorney’ prior to becoming incapacitated.
If you do not have an enduring power of attorney in place, and therefore no one is appointed legally to act on your behalf and manage your finances, a tribunal may be asked to appoint an administrator or guardian to assist you.
Judith, South Australia
Some people appoint a family member or friend as their financial attorney, without realising the burden they are placing on that person. There are many tasks, and it can be draining when there are disputes over the management of your financial and legal affairs.
For this reason, many people appoint a trustee company such as Australian Unity Trustees to act as their financial attorney. We will always act in accordance with our duties and obligations, keeping your best interests front of mind for all decisions made.
We can work alongside appointed attorneys, providing specialist legal, financial and taxation advice to provide them with the skills and tools to seek the best outcomes for the person depending on them.
Estate planning is far more than just having an up-to-date will. It specifies how your assets will be distributed, protects beneficiaries, and ensures your final wishes are observed.
An executor is responsible for fulfilling the terms of a will. We can be appointed as your executor in your will or assist an executor with the administration of the estate in its entirety or with specific tasks.
If you lose capacity and you do not have an enduring power of attorney we can be appointed as your financial administrator to manage your affairs for you. Always acting in your best interest. We step into in your shoes’ and only ever act with your best interests in mind.
We can help you protect your assets by establishing a trust, for example, which may provide wealth creation and other benefits for you and your family.
We can help you create a meaningful and ongoing legacy, that can start during your lifetime or on your passing and will continue to benefit future generations or causes close to your heart through charitable giving.
We provide taxation advice to executors administering an estate; we aim to minimise any taxation liability of the estate and seek to prevent an executor becoming personally liable for any taxation consequences. We also provide business, Self-Managed superannuation fund and personal taxation advice including the preparation of tax returns
Investment bonds are a way to save for the future and can be used as an alternative tool in estate planning. Investment bonds have unique benefits including tax-free death benefit payments for beneficiaries and increased protection against estate challenges
AUT Legal Services Pty Ltd in South Australia: Liability Limited by a scheme approved under professional standards legislation.
Nothing on this site represents an offer or solicitation by Australian Unity Trustees in relation to securities or investments in any jurisdiction. Where a particular financial product is mentioned, you should consider the Product Disclosure Statement before making any decisions in relation to the product and Australian Unity Trustees makes no guarantees regarding future performance or in relation to any particular outcome. Whilst every care has been taken in the preparation of this information, it may not remain current after the date on which it is published, and Australian Unity Trustees and its related bodies corporate make no representation as to its accuracy or completeness.