Hi PC, My father had a joint ANZ loan with my mother, who recently passed away. The house title is solely in her name. The loan has a 500k...
With trusts if the trustee retains the income of the trust the trustee will be taxed on this at the top marginal tax rate and the Medicare levy....
It is possible for the main residence of a deceased person to be sold within 2 years of the death with the property fully exempt from CGT. The...
Hello, Long time lurker first time poster and account creator. My dad is in a bit of a pickle and wanted to know how to set him up, he is...
Imagine Homer dies and leaves a gift to the ‘society for the prevention of cancer’. This entity doesn’t exist and that would mean gift would...
I couldn’t get straight answer from lawyer or accountant, maybe I am not asking it right. if a third party has been proven to hold 50% ‘resulting...
Death sometimes happens after signing a contract of sale but before settlement of the property. Usually, these sales do not complete as there may...
My mother died in March, and my two siblings and I are now in the midst of settling the estate. One of my siblings has been the one my parents...
A deceased estate is a separate taxpayer for tax purposes. It is a trust but taxed in a special way. The executor or administrator of the estate...
A right to occupy a property in a will can be a CGT saver. Example Homer dies and leaves his main residence to Ned Flanders but he gives his...
Question: How do I find out if inherited Investment Property was considered PPOR before it was turned into IP for calculating CGT on sale? Back...
Being an executor is a risky job. They can be sued by beneficiaries if they do something wrong, or even if not necessarily wrong, but they cause...
Hi there My pre settlement inspection of the property in Melbourne is coming up next week It would be great if i could have a list of items I...
Hi all, Mr X died on 5 July 2020. The trustee of a discretionary trust intends to make the estate of Mr X presently entitled to an income...
Elderly woman’s $10 million surprise for neighbours
Hello, Hoping to get some guidance on how to approach my unique situation. I'm in the process of purchasing an PPOR from a family deceased...
I'm a beneficiary of an Estate where the Will said to split things equally 4 ways. One of the other beneficiaries doesn't want a share of the...
Yes, the dead have to pay tax too! After someone dies, they have to file a tax return up to the date of their death. They will get their normal...
It is best to avoid having a non-resident executor of your will. There are 2 main reasons which are a) Taxation, and b) Practicality A...
Some poor executor on a deceased estate was left with a bit of a mess: He said about 18 months ago one of the cases that he took on was for a...
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