Holistic Wealth Management

The secret to wealth creation and preservation is in saving, investing and utilising different types of financial products and strategies by experienced professionals for you.

Wealth Management is extremely time consuming and requires knowledge in various fields. If you do not have the knowledge nor time, then it is prudent to outsource this to professionals to manage it for you. The way professionals manage your wealth will depend on a number of factors (see below) which will influence the wealth-generating and preservation process. Most importantly, when professionals devise a plan is to integrate ‘your’ financial goals into a personalised strategy that can grow and adjust if your needs and objectives change.

Some of the factors to consider:

• Flexibility: Today, the world moves amazingly fast, unexpected events occur frequently and as such people’s present & future plans can change instantly! Therefore, it is important when managing wealth is to have an approach that can adjust to new circumstances.
• Risk: The amount of risk an investor is prepared to take, or the risk of one not being around anymore. Risk is an unavoidable part of life and any investment process. In investments, risk can be controlled (never eliminated) by carefully diversifying one’s investment into different non-correlated assets and in life, some Risks can be insured!
• Asset allocation: monies can be invested in various types of stocks and shares, different kind of bonds, properties in various forms, alternative investments, physical commodities, private equity and so on. All of the asset classes have a role to play and which one the manager invests in will depend on the underlined goals of the portfolio. I.e. Growth or Income producing portfolios, from low to high risk and so on.
• Inflation: To work hard for our client’s investments to maintain real value.

Benjamin Franklin said there were only two things certain in life: death and taxes. The death part comes under our Estate Planning services and here we show our valued clients how to transfer wealth to the next generation and the use of Insurance and Trust products for protection. With regards to taxes, where possible and if suitable, we try to minimise the effects of taxation on investments by recommending various types of products/assets.

To learn more, we invite you to contact us to discover who we are and our approach to Wealth Management.

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Family Protection

EVERY HOME SHOULD HAVE ONE EACH!

No one wants insurance until they need it. But by then, it is too late!

Start planning today for tomorrow!

After all, you insure your car, home and even bicycles! Why not ensure your pay packet & look after your family!

The different types of insurances you can include in your Family Protection Plan:

• Life Insurance
  Protects your loved ones financially should the unforeseen happen!
• Income Protection Insurance
  Just in case your pay packet stops (but bills continue) due to ill health or accident!
• Critical Illness Insurance
  When the unexpected happens and time off work is needed!
• Total Permanent Disability
  When the devastating happens and money is required for a better quality of life.

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Financial Independence

When other advisers talk about retirement, we talk about Financial Independence. The reason for this is that the word retirement means just that! Stop work at an old age! Not everyone wants this. Hence, the reason our main objective with our clients is to show them how to become Financially Independent at their desired age. Once you become Independent, then you have the choices and can choose what you wish to do with your life. Continue full time, part-time or stop working completely, the choice is yours!

To achieve future financial independence there are various vehicles and strategies available through our holistic wealth management approach. One of the more tax-efficient strategies is through investing in superannuation. Even though the capital is generally not available until your preservation age, they play an important role in Australia due to it being a $2.7 trillion (2019) industry. So, regardless if you are in your 20’s to 60’s and beyond, it is a great way to build your nest egg tax-efficiently! With a good investment strategy and the power of compound interest, building your golden nest egg is achievable.

Once you have accumulated your wealth then adjustments are usually required to turn the capital to generate a certain amount of income. We take a number of factors into consideration to achieve this and constantly focus on new strategies to ensure our clients enjoy their mature years with peace of mind.

There are various types of superannuation vehicles and the one right for you will depend on your individual circumstances.

The main types are:

• Public Sector Funds
• Corporate Super Funds
• Industry Superannuation Funds
• Retail Super Funds
• Self-Managed Super Funds (Provides the widest range of investments) and other Small APRA Funds.

Our expert knowledge in the superannuation field will help you craft a strategy and help you choose a vehicle that is best suited for you. All schemes have various benefits, amount of control you wish to have and what you wish to invest in.

With regards to Self-Managed Super Fund’s (SMSF) the company founder is a Specialist Advisor via the SMSF Association and is able to provide advice on the suitability. It is not right for everyone, even though it can offer many benefits that other super funds cannot.

Some of the ‘Real’ advantages of an SMSF are the ability to:

• Have your families superannuation combined in one
• Invest in specific investments from a wide range of assets
• invest according to your specialist knowledge
• rely on the expertise or our professional advice.
• Deferring the payment of ‘contribution tax’
• Reduced costs for larger SMSF’s
• Have greater flexibility and control
• Purchase property and be able to borrow
• Acquire business real property from the members
• Tailor estate planning by utilising a specific SMSF Will.

The disadvantages of having your own SMSF is that there are potential pitfalls in establishing and running one. The ATO has a number of excellent short videos to browse through. Please click here: https://www.ato.gov.au/Super/Self-managed-super-funds/In-detail/SMSF-resources/SMSF-videos/

Our specialist advisor can guide you through the pros’ and con’s and help you decide if an SMSF is right for you. If not, then another type of super accounts might be able to do the job to help you reach financial independence.

Start planning today for tomorrow and contact us.

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Estate Planning & Asset Protection

What is Estate Planning?

Estate planning is a strategy to help clients manage the transfer of their assets/wealth to their loved ones. While a professionally written Will forms part of that strategy, it is only one part of it! Also, some assets that a client controls via super accounts and other trust formations will not even form part of their estate and some assets will be classed as non-estate assets! It can get quite complicated for a novice and the important reason to talk to a qualified financial planner who will act as a lead adviser to help its clients plan a ‘unique and personalised’ strategy by working along with qualified accountants, solicitors and other professional advisers.

Plus:

• Estate Planning is not only relevant after death. It is also relevant in the event if the person loses their physical or mental capacity to make financial decisions with regard to their assets.
• Where possible, it also covers strategies to protect assets and to reduce or eliminate any tax payable on the income that the assets generate.
• It is about control. Estate planning can nominate who controls the assets and when.
• It can also be used to ensure that only bloodline/lineage can benefit.
• About protecting beneficiary’s entitlement from possible legal proceedings such as bankruptcy or family breakups.

What is Asset Protection?

Asset Protection is a perfect strategy for any professional, business owner and anyone with assets in their own name that may be subject to being sued or who may have their estate challenged under the Family Provisions Act by children, grandchildren, former spouses or family who believe they are entitled to a portion of the estate if left out.

The strategy and documentation are set out by qualified lawyers and it involves the use of a set of gifts, loan backs and assets plus bloodline/lineage protective trusts.

Why use us as the Lead Adviser?

The most important aspect of Estate & Asset Protection Planning is “planning”. Here financial planners exceed at it!

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Overview

If you are currently an Expat or are departing Australia to go overseas either temporarily or permanently or entering Australia from another country then this is the right place for you and we show how we may be of assistance.

The company founder has been an Expat himself for most of his 30 year working life as a Financial Planner and worked in Australia, UK and the Middle East. He has personally experienced the ‘tax free’ and ‘taxed’ ex-pat life and the tax and other consequences of moving from and back to Australia several times.

He brings his personal and professional experience and knowledge to his clients. This is crucial as Expat financial planning can get quite complicated due to the different tax rules for non-resident and residents, foreign pensions are treated differently in tax terms, insurances might not be valid anymore and the list goes on and on. Also, important to note that many offshore financial products are quite inflexible, expensive and outdated compared to Australian ones. So, what does an Expat do?

We, along with our partners at Lifespan Financial Planning, are able to offer a full financial planning service by carefully following our 6 steps to sound advice. So, call us if you are planning to depart, already abroad or ready to return home. Our advice is based on personal experience!

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Before you leave

To get of a good start as an expat, financial planning before departing is crucial. Some important subjects to consider:

• Superannuation, especially if one has a SMSF
• Insurance policies with regard to life, critical illness, income protection and so on, as they might not be valid or suitable anymore! Or apply for new insurances especially designed for expats.
• Make sure that Estate Planning and Wills are up to date
• Do you need to appoint someone to act on your behalf in Australia?
• Do you hold property, shares, trusts or other investments in Australia?
• Are you aware of the Main Residence Tax Exemption changes? Australian Expat’s are negatively impacted with the new rules!
• Are you aware of Australia’s and your new destination’s tax system and its obligations?
• Do you have any Student Debt? Since 2017 the rules have changed and non-residents are required to report their income to the ATO to be determined the amount of repayment.
• If you are departing Australia as a temporary resident special rules apply.

Pre-Departure Planning is Imperative!

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Expat Holistic Financial Planning

Currently residing abroad or looking to return?

Rather than receiving ad-hoc financial advice on single matters, a Holistic approach will always yield more in terms of value for money and time. The reason being is that every aspect which can influence your future financial health is looked at, discussed, explored and qualified advice provided on.

An Expat usually earns more in terms of salary and in most cases resides in a country that is more tax friendly. This results in a larger monthly surplus and from the founders personal 17-year expat experience, clients usually do not utilise their new financial situation in a sound way. The reason for this is that much of it gets spent on an expensive lifestyle that usually is not sustainable unless you remain a ‘working’ expat all your life. Considering that things in life can and do go wrong, not taking such financial situations in account, can lead to a disastrous outcome for your future financial health.

That is why it is important to talk to an Australian qualified and licensed adviser!

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Retirement/Superannuation Planning

The good news is that the Superannuation (Industry Supervision) Regulations 1994 do not differentiate between residents and non-residents. This means it provides Expatriates with options with regard to Retirement/Super planning.

This is quite important for two reasons:

1. Australia’s superannuation system is generally regarded as one of the best retirement income savings models in the world and valued at approx. $2.7 trillion (2019).
2. In Australia one’s superannuation fund/s will most likely be their 2^nd biggest money pot after their principal residence value.

Due to the above facts, it is important that it receives plenty of ‘your’ attention and not simply to forget about until you return home if you do at all! Talking to an Australian licensed and qualified adviser will help you decide what your options are? Do you continue contributing? Do you look at alternative opportunities? The correct path will depend on a number of factors. This we discover by following our 6 Seps to Sound Financial Advice.

One important factor to consider is that if you have a SMSF then ‘extra’ special consideration must be given. Being a non-resident and a member of a SMSF can be a ticking time bomb. Here, expert advice MUST be received from an adviser who is a Specialist in SMSF’s and preferably Accredited by a SMSF organisation, such as the SMSF Association, which our founder is a full accredited member of.

Please contact us for further information.

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Wealth Management for Expats

Being an Expat provides you with a plethora of investment options. Having options is good, but sometimes it can also lead to indecisions. The reason for this is that Wealth Management is extremely time consuming and requires knowledge in various fields. If you do not have the knowledge nor time, then it is prudent to outsource this to professionals to manage it for you, especially ones with Expat and Australian financial planning experience. The way professionals manage your wealth will depend on a number of factors (see below) which will influence the wealth-generating and preservation process. Most importantly, when professionals devise a plan is to integrate ‘your’ financial goals into a personalised strategy that can grow and adjust if your needs and objectives change. Please bear in mind that many offshore products recommended by less regulated overseas advisers are not as flexible as Australian ones, plus they tend to pay indemnified commissions and as such may not be suitable should you require to return home.

Some of the factors to consider:

Flexibility: Today, the world moves amazingly fast, unexpected events occur frequently and as such people’s present and future plans can change instantly! Today you might be an Expat and tomorrow not! Therefore, it is important when managing wealth is to have an approach that can adjust to new circumstances. No investment product should be purchased with exit fees or lock in periods.

Risk: The amount of risk an investor is prepared to take, or the other risk of one not being around anymore to support their family. Risk is an unavoidable part of life and of any investment process. In investments, risk can be controlled (never eliminated) by carefully diversifying one’s investment into different non-correlated assets and in life, some risks can be insured! Another type of investment risk commonly associated in countries with less strict financial supervisory bodies is the advice provided by salespeople recommending various structured products. They are complicated, expensive due to upfront (indemnified) large commissions and not flexible. So, if the markets crash, another pandemic appears and you need to return home or simply you need access to the capital, you can suffer complete or a large loss on the initial investment made.

Asset allocation: Monies can be invested in various types of stocks and shares, different kind of bonds, properties in various forms, alternative investments, physical commodities, private equity and so on. All of the asset classes have a role to play and which one the manager invests in will depend on the underlined goals of the portfolio. I.e. Growth or Income producing portfolios, from low to high risk and so on.

Inflation: To ensure that your investments maintain real value.

Taxes: Benjamin Franklin said there were only two things certain in life: death and taxes. The death part comes under our Estate Planning services and here we show our valued clients how to transfer wealth to the next generation and the use of Insurance and trust products for protection. With regards to taxes, being an Expat there are various of strategies available and will all depend on your country of residence. Where possible and if suitable, we try to eliminate or minimise the effects of taxation on investments by recommending various types of products/assets.

To learn more, we invite you to contact us to discover who we are and our approach to Expat Wealth Management.

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Personal and Family Insurance

Every home should have one!

No one wants insurance until they need it. But by then, it is too late! The only way to prepare yourself for the unexpected is by start planning today for tomorrow! After all, you insure your car, home and even bicycles! Why not ensure your pay packet and look after your family!

The different types of insurances you can include in your Family Protection Plan:

Life Insurance

Protects your loved ones financially should the unforeseen happen!

Income Protection Insurance

Just in case your pay packet stops (but bills continue) due to ill health or accident!

Critical Illness Insurance

When the unexpected happens and time off work is needed!

Total Permanent Disability

When the devastating happens and money is required for a better quality of life.

When it comes to providing advice on protection policies dealing with a non-institutional aligned adviser, such as us, is a must! This provides us with a large approved product list to help you find the right family protection plan!

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Expat Tax Planning

When departing Australia your tax responsibilities do not stop! Therefore, best not to put it off for some other time, as it might turn out be an expensive decision!

The reasons for this are:

First of all, it is unlikely that you will become a non-tax resident immediately on departure!

Secondly, there are a number of tax complexities once you become a non-resident.

Thirdly! Yes, any earned income you earn abroad will most likely not be taxed in Australia ‘once’ you become a non-resident for tax purposes, including tax on Non-taxable Australian Property, but how about any income or capital gain tax on Taxable Australian Property? Does it apply to you?

Due to the complexities of the subjects, to find the answers that apply to you will depend on a number of factors and they are too lengthy to outline all of them.For this reason, we strongly recommend contacting us before you leave (if possible, months before), while abroad and when planning to return home to find out how we can in conjunction with LifeSpan FP be of assistance to you.

As mentioned previously, the founder has been an Expat himself for most of his 30 year working life as a Financial Planner and worked in Australia, UK and the Middle East. He has personally experienced the ‘tax free’ ex-pat life and the tax and other consequences of moving from and back to Australia.

Start Planning Today for Tomorrow!

Check out our client resources for Expat Financial Planning!

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Currency Exchange

Once you are established in your new foreign home you will most likely need to send funds back home to Australia to cover your ongoing commitments and bills. Or perhaps you just feel more comfortable holding your savings in AUD or USD or any other currency then the one you are currently earning in!

Traditionally, people have used banks and other mainstream foreign currency houses.However, today there are new ways to improve efficiency in time and save on commissions and other fees.Reason to contact us is to show you how to save money on exchange rates and commission.

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Astute Financial Resources

Useful Links

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

Videos & Ads

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

eBooks for Download

Coming Soon.

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com

General Calculators

Please enjoy the links to these free tools supplied by MoneySmart - a great resource for general financial information. Please get in touch if you would like to discuss any questions that you may have as a result of using these calculators.

Contact us today to discuss how we can work together: (03) 9016 9102 or email us at contactus@equityandlawwealth.com