When a person dies their assets pass via the will or the intestacy laws. Where there are bank accounts involved the cash in these will pass also....
Continuing on from the previous tip Legal Tip 313: Estate Planning Consequences of Recording Beneficial Ownership Wrongly Example Homer sets...
Estate Planning Consequences of Recording the Beneficial Ownership of Shares in a Private Company Wrongly If someone dies and owns shares in a...
When people get married, they remain married until a divorce is finalised. Without the divorce they are still spouses even if they don’t live...
The trap for old players is if 2 people purchase a property in say 1980 and then one of them dies the other might inherit the share of the other –...
Last tip I mentioned that if a person leaves Australian shares to a non-resident beneficiary this could trigger CGT for the estate even if the...
There is a CGT trap for young players whose shares pass to non-residents upon their death. The issue is CGT event K3 is triggered. Generally,...
I don’t blame you if you don't want to act as executor! Some people nominate family or friends to be the executor of their estate when they die...
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...
Sometimes a will might be invalid which is only found out after the testator carks it. A will can be invalid for any number of reasons. What...
When someone dies their superannuation benefits (death benefits) have to come out of super and can only pass to their estate or their dependants....
Imagine this: Homer dies in the kitchen and Marge finds his will. She reads it while waiting for the ambulance and finds that he has left a...
Tax Tip 289: CGT on Inheritance left to one person when put into different names Sometimes people don’t realise what they do will have tax...
Who has the power to decide how someone’s funeral will be arranged? Ordinarily, the named executor or executrix has the right to arrange for...
Generally, you should have a will if you have any assets, or kids. Young adults generally do not have either. But don’t forget where they are...
Someone might leave you a gift under their will when they die. You might not know about this until the executor contacts you in relation to its...
There is a legal concept known as ‘estoppel’. It is very complex and comes in many forms, but it basically involves claims made for broken...
It is important to think about the potential tax issues that could arise upon your own death. A little bit of planning can save the family lots of...
A will can be revoked only by a testator (will maker) with testamentary capacity. Others cannot revoke the will - even by destroying it. An...
Hi All, I am looking into what structures might be best appropriate to hold family wealth for generations. Discretionary trusts have a lot of...
Separate names with a comma.