Estate Planning

At MWT Financial Solutions, estate planning is about far more than distributing assets. It is about protecting what you have built, preserving your wishes, and creating certainty for the people who matter most to you. A well-structured estate plan provides clarity, control and confidence, ensuring your wealth is transferred efficiently and in line with your intentions. Estate planning sits at the heart of our Protect philosophy and becomes increasingly important as your financial position, family structure, business interests and superannuation arrangements grow more complex.

A critical, and often overlooked, component of effective estate planning is Personal Insurance. Personal insurance plays a vital role in ensuring your estate has the liquidity it needs to meet immediate financial obligations and legacy objectives. It can be used to repay debts such as mortgages and personal loans, cover medical or funeral costs, provide income replacement for dependent's, fund business succession arrangements, and ensure your beneficiaries receive their intended inheritance without being forced to sell assets. When structured correctly, insurance allows your estate plan to function as designed, rather than being compromised by cash flow pressures at a critical time.

We take a holistic and coordinated approach, working closely with your solicitor, accountant and other professional advisers to ensure your estate planning strategy is fully aligned with your broader financial plan. This ensures your legal documents, financial structures, superannuation arrangements and personal insurance policies work together seamlessly, rather than in isolation.

Estate planning is not just about writing a Will. It is about designing a strategy that protects your assets during your lifetime, manages estate liabilities, minimises tax, preserves control, and ensures your wealth is transferred smoothly to future generations. This includes ensuring sufficient insurance cover is in place to meet debt obligations, fund legacy payments, protect dependent's, and provide financial stability at the time it is needed most.

Whether your focus is family protection, superannuation and SMSF planning, business succession, asset protection, or intergenerational wealth transfer, our advice is tailored to your personal circumstances and long-term objectives. We ensure Personal Insurance is integrated as a core pillar of your estate plan, not an afterthought, so your strategy remains robust under real-world conditions.

We also recognise that estate planning must be flexible. As your life evolves, family dynamics change and legislation is updated, your estate plan and insurance arrangements must adapt. Our role is to provide ongoing strategic oversight to ensure your structures remain current, effective and aligned with your intentions.

It is about giving you confidence that your financial affairs, legal structures and personal insurance protection are working together to support your loved ones, settle your obligations, and preserve your wealth for generations to come.

At MWT Financial Solutions, estate planning is about Creating certainty today and Protecting your legacy tomorrow.

Will

• A Will is the foundation of your estate plan. It is the legal document that sets out how your assets are distributed after your death, who will administer your estate, and who will care for minor children where applicable. A properly drafted and regularly updated Will ensures your wishes are carried out and helps prevent disputes, delays, or unintended outcomes.

Testamentary Trust

• A Testamentary Trust is a trust created through your Will that comes into effect upon your death. Instead of assets passing directly to beneficiaries, they are held in a trust and managed under rules you establish. This allows you to retain control over how your estate is used even after your death, often described as retaining control over how your assets are managed and distributed.- Testamentary Trusts provide strong asset protection and allow you to control when and how beneficiaries receive their inheritance. This is particularly important where beneficiaries may be vulnerable or financially at risk, such as minors, beneficiaries with disabilities, chronic gamblers, or those affected by drug or alcohol issues. Rather than receiving a lump sum, funds can be distributed progressively or for specific purposes, preserving the value of the estate while supporting their long-term wellbeing.
• They also offer significant tax advantages, including the ability for income distributed to minor children to be taxed at adult marginal rates, making them one of the most tax-effective estate planning tools for families. Assets held within a Testamentary Trust are generally better protected from divorce settlements, bankruptcy, and legal claims, helping preserve your wealth for future generations.
• Most importantly, a Testamentary Trust allows you to decide who controls your assets, who benefits from them, and how and when distributions occur, ensuring your legacy is managed exactly as you intended.

Power of Attorney

• A Power of Attorney allows you to appoint someone you trust to manage your financial and legal affairs if you are unable to do so. This can include banking, investments, property transactions, paying bills and dealing with legal matters on your behalf.

Enduring Power of Attorney

• An Enduring Power of Attorney is critical because it continues to operate even if you lose mental capacity. It ensures your financial affairs can still be managed appropriately if you are unable to make decisions for yourself, providing protection, certainty, and continuity.

Advance Health Directive

• An Advance Health Directive allows you to formally record your medical treatment preferences. It provides guidance to doctors and family members about what treatment you do or do not wish to receive if you are unable to communicate, ensuring your personal values, dignity, and healthcare wishes are respected.

Guardianship

• Guardianship allows you to appoint a person to make personal, lifestyle and healthcare decisions for you if you lose capacity. This includes decisions about accommodation, medical care and day-to-day wellbeing. It works alongside your Enduring Power of Attorney and Advance Health Directive to provide complete protection for both your financial and personal affairs.

Superannuation

• Superannuation is a unique component of estate planning because it does not automatically form part of your Will. Instead, it is distributed in accordance with your beneficiary nominations and the rules of the superannuation trustee. Without proper planning, this can result in your superannuation being paid in a way that differs from your broader estate intentions.- Correct structuring ensures your benefits are paid to the right people, in the right form, and in the most tax-effective way possible. This may involve Binding Death Benefit Nominations, Non-Lapsing Binding Nominations, reversionary pensions, or directing benefits to your estate so they can be controlled through your Will and Testamentary Trust.
• When aligned correctly with your overall estate strategy, superannuation becomes a powerful tool to maximise estate value, reduce tax, and provide certainty around how your wealth is transferred

Self-Managed Superannuation Fund's (SMSF's)

• SMSF estate planning adds another layer of complexity because control of the fund rests with its trustees, and that control does not automatically transfer smoothly on death or loss of capacity. Effective SMSF estate planning must address:
• Trustee succession and control
• Replacement trustees or directors (where a corporate trustee is used)
• Fund deed provisions
• Clear succession documentation
• It may also involve structuring reversionary pensions so income streams can continue to an eligible dependant, reducing delays and administrative uncertainty.
• A critical component is a Binding Death Benefit Nomination (BDBN). When properly drafted, it legally directs trustees on who is to receive your benefits and in what form (lump sum or pension), subject to the SMSF deed and superannuation law. Where available, a non-lapsing or enduring nomination can provide additional certainty by remaining valid beyond standard expiry periods.
• Without appropriate trustee succession planning and binding nominations, SMSF benefits can become vulnerable to disputes, delays, unintended beneficiaries, and unfavourable tax outcomes.
• When SMSF control, trustee succession, reversionary pensions, and binding nominations are correctly aligned, your SMSF can deliver a high level of certainty, control, and tax efficiency while integrating seamlessly with your overall estate plan.

Personal Insurance (Life, TPD, Income Protection & Critical Illness)

• Personal Insurance is a critical component of effective estate planning because it provides immediate liquidity at a time when cash flow is often most needed. It ensures your estate can meet financial obligations without forcing the sale of property, investments, or business assets under pressure.
• Insurance can be used to:
• Repay mortgages and personal or business debts
• Cover medical, funeral, and estate administration costs
• Fund tax liabilities
• Equalise inheritances where assets cannot be easily divided
• For business owners, insurance also plays a vital role in business protection and succession. Key Person (Key Man) Insurance protects the financial stability of a business if a critical individual dies or becomes disabled. It can fund debt repayment, stabilise cash flow, cover recruitment costs, and protect business value during periods of disruption. It also supports buy–sell agreements and succession strategies.
• Insurance may also provide ongoing income replacement for dependants, ensuring lifestyle stability while the estate is being administered and into the future.
• When structured correctly, Personal Insurance becomes the financial backbone of an estate plan, providing certainty, liquidity, and protection for your family, your business, and your legacy.

Together, these documents and strategies form the foundation of a well-designed estate plan. At MWT Financial Solutions, we ensure each element is correctly structured, legally sound, and fully integrated into your broader financial strategy, so your wealth, your wishes, and your legacy are protected with certainty and clarity.