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Life Insurance Advice Necessary Item for Will Kit


QUEENSLAND, Australia August, 2012 – Most Australians assume that when they die (even without a will) all their assets will go to their immediate family but heartbreakingly, families often find out too late that this assumption can be wrong. Dying without a will allows the Intestacy Rules to determine the distribution of the estate, which means that the wishes of the deceased may not be followed. Those left behind are often burdened by the cost of estate administration and significant time delays.
According to Anita Thomson, Solicitor of Wills & Estates Office Pty Ltd, it is estimated that only 48% of Australians have actually prepared wills*. Wills are highly recommended for anyone over the age of 18 who has savings, a car, or items that have sentimental value.
Will kits have become more common in recent times but insurance and superannuation expert Steve Culpitt warns that if individuals have ‘complicated’ items such as superannuation or assets held in a company or a trust they should seek both legal and financial advice to ensure their assets end up with the intended parties.
“There are very specific legal requirements around many assets, especially trusts, and also around the creation and maintenance of a will,” says Steve Culpitt, Financial Adviser at Arrow Insurance Consultant Services. “I recommend every person who has anything more complicated than a car and a savings account seek financial advice and insurance advice to best maintain the value of the assets while they are alive and legal advice to ensure their assets end up in the hands of their loved ones when they pass away.”
Solicitors require a list of assets such as life insurance, businesses, trusts, and superannuation in order to prepare an effective and legal will. Supplying this information is necessary to ensure that assets are distributed according to the wishes of the deceased and professional financial advice can ensure the list of assets is correct.
Arrow Insurance offers several services that focus on asset and family protection. The expert insurance advisers assist clients in protecting assets and families by identifying ever-changing financial goals and objectives and offering tailored and strategic financial solutions. Seeking the services of a financial adviser protects financial assets because assets such as those held in a company or trust and superannuation, which may not pass through the will. With over 30 years experience in the financial services industry, Arrow Insurance is dedicated to providing appropriate financial and insurance solutions for families and individuals. For more information on how to protect the family assets please visit


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