Posts
Estate Planning is more than just a Will
Ian Tindale, Director of Yodal
“Where no man has gone before”, well not many alive and even fewer dead
“Where no man has gone before”, well not many alive and even fewer dead
My Estate Planning speciality comes together with Yodal
George Hlawaty DipFP, Estate Planning Specialist, Vista Financial Group
Celebrating the passing of a loved one around the world
As in the lyrics of the Lion King’s ‘Circle of Life’ - the circle of life, moves us all, through despair and hope, through faith and love. However, the way we celebrate the passing of a loved one differs around the world.
Neglecting to have the Estate Planning conversation makes it difficult for you and your client to manage their financial risks.
Jodie Douglas, Principal Adviser & Co-Founder of Mad about LIFE (MAL)
Millennials see the world through a different lens
Ian Tindale, Director of Yodal
Pets as Beneficiaries
Our pets really are part of the family, so much so that ensuring they are looked after if they should outlive their owner, can be an important consideration as a part of estate planning. For most clients it might be who in the family will care for their pet if they should die To assist the career, owners can leave them gifts to cover the costs of their pet’s needs. Unlike the USA, in Australia a pet cannot be the direct beneficiary under a Will.
Changes to ‘Roles and Permissions’ recognise the entire team
Another part of our October release will be changes to Roles and Permission within Yodal. At present you can log on as an Adviser, Accountant, or Lawyer however we know that members of the team such as an assistant or para-legal also need to access some features of Yodal.
The ‘Living Will’ is a game changer for you and your clients
Our Living Will is a new optional feature that from October you will be able to offer to your clients. Generating additional income for you, as well as major benefits for your clients.
Don’t underestimate the women’s role in driving their family’s financial future
In my experience women have always led the estate planning process. In the traditional relationship where dad is the ‘bread winner’ and mum breaks her career to raise the children, she will always feel financially vulnerable. It is this vulnerability that has been the motivator for women to ensure her family’s financial future.
Finding & Maintaining Millenial clients
Millennials will inherit a great deal of wealth in the coming decades and the way they view and engage with the world are very different to their parents and most likely, your current client base.
Knowing we can give our clients total ‘peace of mind’ is so important
Sasha Burchgart, Founder, Burcheart Financial Planning
First round of version 3 changes are now LIVE - stay tuned for our new 'Living Will' solution
Yodal is already a clear leader as an end-to-end Estate Planning solution but we are making Yodal even better. Our market has grown, the needs of our users have shifted, and technology never stands still. In response to these changes we are currently undertaking the largest development project since we launched Yodal. As we start the transition to Version 3 of the Yodal solutions, we are excited to announce that the first of the new features are now LIVE in your Yodal instance.
My duty of care is to talk to every client about their Estate Plan
Cassandra Troy, Director Robins Financial Planning
A brief history of the first Will and Testament
The first use of a will can be traced back to ancient Athens and Rome before being used more commonly in England and following that in America. Although it is believed that the oldest known will was found in a tomb excavation in Kahun in Egypt which can be dated back to 2500 BC. The deceased left his property to his wife subject to her meeting conditions such as not pulling down the houses that he owned (maybe he suspected she had plans to redecorate 😉).
Make Estate Planning your value-add
We understand that day-to-day priorities can get in the way of introducing new opportunities into the business. Sometimes it simply seems too daunting.
Interesting story about Wills
Not so ‘usual’ inclusions in famous people’s wills
Over the years there have been some interesting inclusions in the wills of famous people.
Here are just a few to start with. You can find more at https://www.lynnandbrown.com.au/a-look-at-the-light-and-weird-side-of-some-famous-wills/
We’ve streamlined the invoicing process
From May you will start to notice changes to the Yodal invoicing system. The changes are in the process used by advisors and lawyers when submitting invoices for payment. These changes will occur automatically so there is nothing required by you.
Estate Planning is always Step One when meeting a new client
Justin Ayres, Director and Senior Financial Planner - Swinbourne Wealth and Protection
Yodal in a Box
Yodal in a Box helps you build your business faster and with less time and resources by getting your client to self-prioritise their estate planning needs
Not all assets can be distributed in a will
There are some assets that a person may benefit from or control however may not ‘own’ in context of their will (Marie Brownell, National Manager of Estate Planning for Equity Trustees, AFR article by Duncan Hughes, Date). Which is why asking the right questions first as a key part of Estate Planning is critical in reducing the chances of family disputes, or problems that result in a lengthy delay in administering it. One of the key questions to consider when considering estate assets is changes to family circumstances. For example, a recent separation or divorce where jointly owned assets need to be split and all documentation, accounts etc updated to reflect the new position.
Anxiety over COVID has resulted in a rush to review wills
COVID has added another complexity to estate planning. Over the past two years isolation coupled with fear around catching COVID; and for those more vulnerable the possibility of dying from the disease, has resulted in a rush to review and update their wills.
Cheap DIY wills can come with significant traps
COVID has been a boon for online wills due to the difficulty of visiting a lawyer, financial planner or accountant. However, when the times comes to action a will, if it has not been prepared with due consideration of all of aspects of that individual’s life, the risk of costly family disputes is real.
Roger Federer's Gift
I was sent this story by a client a few years ago and it has stayed with me ever since. What a wonderful human being is Roger Federer, such a touching and inspiring gesture. This what success is for me.
How Wahlstrom Financial Services uses Yodal to add value to its clients
Simon Backman of Wahlstrom Financial Services is curious but cautious when it comes to new technology.
Why did we build Yodal?
Discover how you can grow your financial advice / risk business in a time of increasing compliance, uncertainty and negative publicity around your industry.
Helping your clients take care of their Superannuation when doing their Estate Planning
You can have your client nominate a beneficiary of their superannuation fund by completing a Binding Nomination Form and giving it to the trustee of their superannuation fund. A Binding Nomination Form is effective for three years only. The benefit of making such a nomination is that the proceeds from their superannuation fund on their death will go to that beneficiary and will not form part of their estate.
Gallagher Unites Brands with Estate Planning
The insurance industry has undergone a period of consolidation over the last few years, with many businesses being folded into larger groups and therefore merging service offerings. As a result, CEOs and business owners have been faced with numerous challenges, including a requirement to increase engagement with customers and communicate value in such a way that it strengthens the relationship. In other words, ensuring that existing customers don’t feel disenfranchised as a result of a new brand, or a different perception of their service provider.
Can a phone video be your legal Will?
Every Estate Planning professional would agree when we say that a Will is one of the most important documents for securing the financial future of a person’s family after they pass away. A Will ensures that when a person dies, their accumulated assets are distributed to the intended beneficiaries appropriately and in the most tax effective manner. However, all too often, planning of a Will is treated as unimportant, deemed as non-urgent or worse – overlooked altogether.
What is a Testamentary Trust?
A testamentary trust is typically prepared as a discretionary family trust established under the terms of a Will. The assets that form part of the estate will be held in trust for a potential beneficiary until the termination of the trust (for example, in the event the beneficiary reaches a nominated age).
Advance Health Directives
Every competent adult has the legal right to accept or refuse any recommended health care. This is relatively easy when people are well and can speak for themselves, however during severe illness or after an injury people are often unable to communicate their wishes. It is at these very times when many critical health care decisions need to be made.
25 year old dies without a Will, beneficiaries left scorned
We are calling all financial advisers and accountants to join us in changing the conversation around Estate Planning from one that only happens after you retire to one that is on everyone’s minds now. It is not just for older retirees – Estate Planning is something we all need to be talking about. Don’t let any of your clients or their families be left with no control over how their Estates are distributed.
How Zenith Wealth Management used Yodal to strengthen their business
It was the name that first grabbed the attention of Zenith Wealth Management founder Peter Chun: “I was researching options for Estate Planning and came across Yodal,” says Mr Chun. “I had no real understanding of what their offering was with a name like that, but I’m very pleased I gave it a shot.”
Making client payment simpler - New feature release
Collaboration is key to success and we believe that by listening to feedback from our advisers we can continue to empower them. As a result of valued user feedback, we have released a new feature that provides you and your clients with greater flexibility in making payment and securing plans.