Trusts, Wills & Estates

The Sandwich Generation

26 Jan , 2016  

steak-sambo

You have elderly parents who need more of your attention, and your children are young adults but they are still at home. You are stuck between them. You are torn between them. You have obligations to both of them, and you thought you’d have some freedom by now! Just when your children should be grown […]

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Legal,Retirement,Small Business

Business Succession – the Legal Basics

3 Nov , 2015  

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Business succession planning is about planning for the future. It is about making sure that your family and employees won’t be left in the lurch is something happens to you. It is about planning for retirement, and planning for sudden illness, injury or death. It is about making sure your family will not be stressed […]

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Family & Divorce Law,Legal,Personal Finance

Family Trust Succession

3 Nov , 2015  

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I have written previously about the amount of wealth that the baby boomer generation has in small businesses in Australia, and that the transfer of that wealth will happen over the next 10 years as baby boomers retire. A significant number of family businesses are run in family discretionary trusts, so the control and succession […]

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Legal,Trusts, Wills & Estates

Charitable Trusts v Gifts to Charity

7 Sep , 2015  

Guide-Dogs-Charitable-Trusts-ProAdviser

Aussies give a lot to charity, and we’re proud of it. Giving to charity in your Will is a noble thing to do. Many charities rely on the bequests they get, and many well-known charitable trusts have been established by Wills. These include the Archibald Prize and the Miles Franklin Award. In addition, there are […]

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Legal,Trusts, Wills & Estates

Providing for a Disabled Child

3 Aug , 2015  

Teddy-Bandaged-Children

Last month I wrote about vulnerable beneficiaries and protecting their inheritance – primarily gamblers, and people with a drug or alcohol problem. Although a disabled child could also be provided for under a protective trust or a discretionary trust, there are other trusts that might be better suited. Or, you could use a combination. Special […]

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Legal,Trusts, Wills & Estates

A Case Study on Estate Proceed Trusts

1 Jul , 2015  

Estate-Planning-Lawyer

This case study will illustrate what an estate proceeds trust is, and how it can be used when the Will was a basic Will that didn’t set up the trust itself. In this example, Nicole’s husband Daniel has died in an accident. They have two primary school aged children, Michael and Melissa. Nicole and Daniel […]

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Family & Divorce Law,Legal,Trusts, Wills & Estates

Dealing with Vulnerable Beneficiaries and Protective Trusts

1 Jul , 2015  

Gambling-Addict-Image

In each family there is often a financially irresponsible child, but when it goes one step further and that child is a gambler, or has drug or alcohol problems, you will probably want to make sure that your child does not squander your hard-earned estate when they inherit it. Cutting them out of the Will […]

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Legal,Trusts, Wills & Estates

5 Reasons Why I Should Appoint Guardians For My Children

28 Apr , 2015  

Legal-Guardians

If you have children, you can’t leave their future uncertain. Updating our Wills is usually the item on our ‘list of things to do’ that never gets done. Quite often, if our Wills aren’t up to date, or we don’t get the proper advice, and our Will doesn’t actually protect our children or our loved […]

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Legal,Trusts, Wills & Estates

Appointing an Executor of Your Will and Trustee of Your Estate

31 Mar , 2015  

Executor-Role-ProAdviser

An executor is the person you appoint in your Will to administer your estate after you die. They are also known as your legal personal representative, and their role converts to the trustee of your estate, particularly if any of your estate is to be held for a beneficiary. It is very important who you […]

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Legal,Tax,Trusts, Wills & Estates

Death & Taxes: The Absolute Guarantees in Life

1 Mar , 2015  

Tax-Help

Death and taxes: often described as the two absolute certainties in life. But what happens when you die, and what taxes are payable? For now, in Australia, there is no death duty or tax payable when someone dies. We are lucky, since in other countries their death duty is often a significant percentage of the […]

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Legal,Trusts, Wills & Estates

All About Testamentary Discretionary Trusts

30 Jan , 2015  

Concentrated mature couple with bills and calculator at home

A testamentary trust is technically any trust (click here to read my last article which explains trusts) that arises after you die, based on your Will. It could be a minor’s trust, a life interest, or a more complex trust that could benefit your children throughout their lives. But when you hear people talk about “testamentary trusts”, […]

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Small Business,Tax

The Best Tax Structure For Your Small Business

28 Dec , 2014  

Small-Business-Tax-Structure

This is a complex area, because there are many forms that a trust can take. So I wanted to give you a basic overview of trusts and the family trust in particular. A family trust can be very useful for running a small business, or having your investment portfolio including real estate investments in the […]

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