Estate Planning
A legal document that states who should receive your assets after you die.
What is a will?
Australia’s retirement savings system where employers contribute a percentage of earnings.
What is superannuation?
The cost of borrowing or the return on savings.
What is interest rates?
The efficiency of producing goods and services using available resources.
What is productivity?
A legal arrangement where assets are managed by a trustee on behalf of someone else.
What is a trust?
The super strategy aiming for bigger returns but with more risk.
What is a high growth fund?
Rising prices over time that reduce the value of money.
What is inflation?
When a company invests in new delivery trucks with GPS tracking to improve efficiency.
What is capital investment?
This legal role allows someone to make financial or legal decisions for you if you’re unable to.
What is a Power of Attorney?
This type of investment strategy is best for people that have retired.
What is conservative fund?
The optimism people feel about the economy that affects their spending behaviour.
What is consumer confidence?
Training employees in new skills, such as digital marketing courses, to improve output.
What is upskilling?
The person named in a will to carry out and execute your wishes and distribute your estate.
Who is the executor?
This form tells your super fund who should receive your balance when you die.
What is a superannuation nomination or beneficiary?
How much goods and services money can buy; decreases with inflation.
What is purchasing power?
Introducing robotic arms on a production line is an example of this.
What is automation?
If both parents die, the person legally responsible for caring for their children is called this.
What is a guardian (or guardianship)?
A private fund you manage yourself, but which comes with strict compliance rules.
What is a self-managed super fund (SMSF)?
Choosing to buy a book instead of going to see a movie is an example of this economic concept.
What is opportunity cost?
This organisational structure has fewer management levels and encourages collaboration.
What is a horizontal organisational structure?