End of financial year checklist
Personal Administration / Tax Administration
Use the end of the financial year to check on your personal admin as well as your tax admin.
Take the time to update your FamBridge document with any changes you may have made throughout the year. A change of provider, a new car, update of bank accounts, the list is endless and it’s a great time of the year to check things off!
The end of the financial year is approaching again, we all say we cannot believe where the time has gone and its true our lives have become so fast paced, we can easily lose track of what is happening in our own personal world. Most things are at the forefront of our minds but it’s the little things we just can’t always keep up with.
Not only does the end of the financial year bring us tax questions and we sit down to think about all the things we need for our personal returns and businesses, but shouldn’t we also put some thought to taking care of our own personal administration.
Surely we need to be on top of what comes in and goes out on a daily basis, but we seem to have so much in the way of electronic movement of our money these days with subscriptions and so many accounts on direct debit it can become a bit overwhelming and often we don’t take too much notice of those small amounts disappearing regularly each month, $10 here $20 there, it does add up.
We love having the ability to watch movies and series via various streaming accounts and our phones have become a real extension of our lives but what happens if something were to happen to us.
Watching the news can be depressing and so often we hear about people passing away suddenly, and accidents take people way too early in life, well that’s not only happening in the news it is happening every day in our own lives - friends, relatives, partners, children. It’s part of life we don’t like to think too much about. For those left behind to sort out an estate it can become very confusing by a life that they have not actually lived. A life that is not necessarily part of their everyday thoughts, but they have been left as the executor or family member to take care of an estate.
You or a family member may become unwell, or a medical illness stops the ability to care for oneself. Consider an accident that happens and suddenly no one can get into a phone or have any idea of what accounts might be held, direct debits continue even when you may not have the ability to use what you have subscribed to. Do you want money unnecessarily leaving your account when it can be easily taken care of by your power or attorney and by using the information contained in the FamBridge book or document? Make life for those who have to take care of the situation more manageable.
Check out our affordable packages via www.fambridge.com.au