There are ten golden rules which should be observed in order to ensure that your estate is properly planned:

* Make sure your will is a valid one.

* Remember to take account of assets which won't form part of your estate.

* Check whether jointly owned assets are held as joint tenants or tenants in common.

* Keep accurate capital gains tax records to pass on to your estate.

* Remember the impact of capital gains tax when passing on assets.

* Watch out for the effects of debts against assets passed to specific beneficiaries.

* Always ensure that there is enough cash in the estate to pay bills and expenses so assets don't have to be sold.

* Don't give assets subject to capital gains tax as gifts to charities - cash is more tax efficient.

* Consult with an appropriately qualified person if you want to be assured your estate planning is correctly structured.

* Regularly review your will and other estate planning arrangements. The Public Trustee of Queensland will draft a new will for you at no cost ..They have an office in Southport. Try their website www.pt.qld.gov.au or you can contact their Southport office direct on   07 5588 5333 .

Estate planning is a complex matter requiring a team effort. Your solicitor, accountant and financial planner all need to understand what you want to achieve. They can then work with you to put together an estate plan which meets your personal needs. On a regular basis they can review your plan to ensure it continues to reflect your wishes.

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