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Information You won’t get from Unlicensed Accountants #61

Along with this raft of legislative change, the Australian Securities and Investments Commission (ASIC) has also introduced new licensing requirements for accountants who work with and advise Self Managed Superannuation Fund (SMSF) Trustees. Only approx. 10% of accountants have complied with these changes to date.

As such if you, as many, consider your accountant would be your 1st port of call for Financial Advice, they will likely advise you, they are unable to provide the information you require & should consult a qualified Financial Adviser / Planner.

This is general advice only and you should seek expert financial advice from a qualified financial adviser before acting on any of the information covered in these topics.

The Top 4 steps to ensure your Executor can sort out your Estate ASAP.

  1. Ensure your executor knows where your last will and testament is held.
  2. Make sure your executor has access to a cash account, so that expenses applying to the estate can be promptly met.
  3. Put together an inventory of assets and liabilities for your executor.
  4. Provide the names and contact details of your accountant, financial advisor, and life insurance agent.

In many cases these simple steps will remove unnecessary angst and delays for your beneficiaries.

“You’re neither right or wrong because other people agree with you. You’re right because your facts are right and your reasoning is right, and that’s the only thing that makes you right. And if you’re facts and reasoning are right, you don’t have to worry about anybody else.” – Warren Buffet.

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