Under s118-150 ITAA97 a person can claim the main residence CGT exemption for up to 4 years prior to occupation of a house being constructed once...
This is a more detailed version of a previous post first written in May 2016: Legal Tip 131: Legal Tip: Estate Planning Implications of Bucket...
The biggest downfall with discretionary trusts is that the assets of the trust cannot be passed on via the will of the person that controls the...
I have been offered a contract for a purchase which includes a ‘record of death’ clause:- 'a. This contract is subject to and conditional upon...
The executor of an estate has fiduciary duties to maximise the estate of the decreased. There can be conflicts of interest where someone is both...
Company owned assets cannot be gifted by a person’s will. This is because they don’t own the assets, the company does. However, if the person owns...
Legal Tip 184: Contracts and Death Generally, when a person dies their Legal Personal Representative will be bound by any contracts that the...
I just heard of a person who wanted a clause in the will to say that all the attendees at her funeral were to be given a ticket and then at the...
Legal Tip 177: Use of Your Sperm after Your Death??? This is NSW law – not sure on the other states. If a couple have been trying to conceive...
It's not on my immediate to-do list but death comes to us all. CBA's booklet on this says: "Individual accounts Once the Bank has been notified,...
Legal Tip 175: Leaving Assets to Someone Who Dies Soon after you (Survivorship Provisions) This is something important to consider when making...
Inheriting a property from a deceased person is commonly believed to be tax free. This is often true but not always and dangerous assumptions can...
Strategy: Backup Appointors of Trusts People that are appointors of family trusts usually give little thought to what can happen to the trust...
Taxation of Superannuation Proceeds Trusts When drawing up a will it can be a good idea to incorporation a Superannuation Proceeds Trust (SPT) to...
Another Tax Reason not to Invest in your Own Name If there is a loss and the person dies the loss is basically lost. If the investment vehicle...
Preface: I thought I’d share an experience my parents had with their investment a few years back but more-so how this has impacted my own...
Super Disputes on Death of a Member Often there are disputes about who should receive the death benefits of a member. Nearly always these...
The Biggest Issue with Discretionary Trusts: Succession on Death In my view, the biggest issue with discretionary trust is succession. Trust...
Taxation of Super Death Benefits When a person dies their superannuation will be paid out to either a dependant or to their estate (and then...
Legal Tip 146: Who can receive your Super when you die? When a person dies their superannuation benefits must be paid out of the fund they were a...
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