There are important estate planning issues to consider with offset accounts, especially offset accounts in joint names as generally a bank account...
Legal Tip 429: Step Children and Wills Where step children are in the family care should be taken. Example Homer married Marge when she...
A bankrupt person is considered to be legally disabled. As such they don’t have the capacity or ability to remain in certain positions and this...
When an Australia Tax resident dies and leaves foreign assets to non tax residents of Australia, there will generally be a CGT event trigger by...
Hi PC, Long time reader and contributor, never thought I'd be making a post like this one though. Over the last few months I've found myself in...
There used to be a story about Japanese housing loans being debts that span 3 generations – which I don’t think was ever true. But could it happen...
Generally, it is better for your children if you die and leave them the assets in your will rather than you selling the assets before you die and...
Cheques are not very common these days but are still sometimes used. Did you know that If a person dies after paying something by cheque the...
I understand s99A allows for TDTs to get taxed at normal rates for undistributed income. Why don't people specify in their wills to create...
I did some reading and it seems like in most states and NSW in particular, testamentary trusts get a land tax threshold only for 2 years, before...
Did you know you can get your executor to do stuff for you after you are dead? Nifty hey? One thing you can do is to instruct them to buy a...
Older people sometimes are asset rich and income poor and they are reluctant to sell to raise funds as this can affect the pension. So, they...
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...
It is possible to give a power of attorney to someone just for one asset or transaction rather than an open ended power over all assets. This...
Imagine dying while one of your children are bankrupt. Whatever you have left that child will end up in the hands of creditors. It’s enough to...
What happens if someone dies and leaves a minor child an asset to be held on trust until that child reaches a certain age and that child dies...
When making a will the testator will often leave assets jointly to 2 or more persons. Is it better to leave it to them as tenants in common (TIC)...
If you expect to receive or own assets in the future, you can cover these off in your will before you actually own the assets. This saves you from...
Before you enter into bankruptcy you should always prepare ahead. With estate planning the main things to consider are: 1. Bankruptcy...
Superannuation proceeds trusts are trusts that segregate super received into an estate upon death. The main reason for this is to avoid death...
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