Non-estate assets have been a recurring topic of discussion for us this year

In simple terms, non-estate assets are assets that do not automatically fall under the control of a person's estate. These assets may not be distributed according to the client's wishes without clear instructions. Common examples include shares in a private company, family trust assets, and superannuation.

Why does this matter?

Increasingly, individuals have more complex financial structures, meaning a significant portion of their assets lies outside their estate. Yet many clients are unaware of the complications this creates during the distribution of their estate. There's often a misconception that "everything will go according to my will." but this is far from the case.

And it's not just a "rich person's problem." With the rise of the gig and freelance economy, more people now own companies or manage family trusts, often without realizing the estate planning complexities this brings.

Online Wills can also contribute to the problem. After testing several providers this year, we found that most online Will platforms fail to address non-estate assets or require users to consult a lawyer.

The solution?

There's no one-size-fits-all in estate planning. Every client and family is

unique, which is why a bespoke approach is essential - especially when non-estate assets form a significant part of their asset base.