Wealth protection and insurance

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Even the best wealth-creation strategies can be useless if they're not supported by a back-up plan. Building your financial strategy without adequate protection is like building a house without laying the right foundations.

It makes no sense to build wealth and not protect it. Don't be the person who thinks it'll never happen to them.

The best ways to protect your wealth is with effective estate planning and insurance arrangements.

Getting your estate in order

It's crucial to make sure that your finances are managed correctly should you die unexpectedly. This will save your family the stress of possible complications and red tape.

All families are different, so a customised and comprehensive estate plan that sets out how you intend your estate to be dealt with in a timely and tax-effective way is vital.

Crucial to effective estate plans is the will and power of attorney.


A Will ensures that your wishes are carried out on your death. Everyone should have a written Will; squabbles among family members over the estate are not uncommon when someone dies.

Wills should be reviewed at least once every three years or when there's a major change in circumstances. For example, a marriage may revoke a previous Will and a divorce may invalidate aspects of a Will.

If you die without a Will then you die 'intestate', which means a family member has to apply to the court to be appointed to look after your affairs and an unequal or unintended distribution of your estate could result.

Power of attorney

It's also important to make sure your finances will be correctly managed if you become incapacitated. By appointing someone to act for you under a power of attorney, you ensure that a trusted person will oversee your finances according to your wishes.


It's impossible to underestimate the importance of adequate insurance cover.

Although it can be a significant expense, insurance can be made more affordable by taking advantage of the tax deductions that apply to specific types of insurance and some methods of taking out insurance.

There are several ways to protect your money, and the strategy you need depends on where you are in your life. You might want to protect your income, your ability to earn, or the nest egg you've built up and ensure your affairs are in order should the worst happen.

Your insurance needs will change as your life circumstances change, so you should review your insurance cover annually. For example, throughout your life you'll gather assets and liabilities and may have dependants, so your need for insurance will increase. As you get older, you'll accumulate more assets, pay off liabilities and your children will leave home, so the types of insurance you need will change.

If you're not adequately protected then a significant event such as ill-health, injury or death can mean that emotionally traumatic times for your family are compounded by financial strain.

Our financial planners are experts at protecting clients' wealth and making sure they have the insurance they need at every stage of life.

Click here to download a description of your insurance options.

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