It’s always good to have a Guest Speaker from within our ranks, and Geoff Ivanac didn’t disappoint! His topic was about keeping wealth in one’s family and preserving one’s legacy, because financial planning is not about us but about the next generation. However, the focus is not on death only but also on losing capacity to manage one’s affairs. In the latter event, we should have a very capable person to take over. Taxation issues are of paramount importance in estate planning, and many people aren’t aware that their Will doesn’t necessarily cover all or sometimes any of their assets. For example, one’s superannuation is not a personally owned asset, and so the trustee must be a person who you can trust completely. Geoff pointed out that if we do our financial planning very well, our children will remember us long after the eulogy at our funeral. For those super-rich people out there, Geoff concluded with a Warren Buffet quote: “Leave your next generation enough to do anything, but not enough to do nothing”.