Superannuation reforms commencing 1 July 2017

By Lucille Moala • In Estate PlanningComments Off on Superannuation reforms commencing 1 July 2017

The prospect for superannuation reforms was announced by Treasurer Scott Morrison when he announced the 2016-2017 Budget earlier this year. On 23 November 2016, the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 and the Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016 were passed by both Houses of

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Family Provision Application considered by the Supreme Court of New South Wales

By Lucille Moala • In Estate Planning, Estates, Litigation, WillsComments Off on Family Provision Application considered by the Supreme Court of New South Wales

The recent case of Sitki v Sitki; Sitki v Aksoy [2016] NSWSC 1396 (Sitki) provides an interesting insight into the matters the Court may take into account when determining Family Provision Applications. The case was heard in New South Wales. The law in New South Wales provides that a spouse,

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DIY alterations to your Will – what could possibly go wrong?

By Lucille Moala • In Estate Planning, WillsComments Off on DIY alterations to your Will – what could possibly go wrong?

It is important to have your Will and any changes to your Will drafted by a suitably experienced lawyer. You may have a general idea of your intentions when drafting your Will or when making changes to your existing Will yourself, but a lawyer is able to implement your wishes

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Some legal considerations when moving in together

By Margaret Miller • In Estate Planning, Family Law, WillsComments Off on Some legal considerations when moving in together

Some legal considerations when moving in together Becoming part of a couple and moving in together can trigger unexpected legal and financial consequences. Generally, financial motivation is not the reason most couples move in together but, if you are considering coupledom, it makes sense to consider any financial traps and

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DESTROYING YOUR WILL NOT AS STRAIGHTFORWARD AS YOU THINK

By Dan O'Connor • In Estate Planning, Estates, WillsComments Off on DESTROYING YOUR WILL NOT AS STRAIGHTFORWARD AS YOU THINK

Testamentary wishes are dynamic. As personal circumstances and relationships change over the years, our testamentary intentions normally evolve to reflect these developments. If this extends to the point that the testator no longer agrees with the terms of their existing will they may choose to revoke the document by destroying

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Making an effective gift to charity under your will

By Dan O'Connor • In Estate Planning, Estates, WillsComments Off on Making an effective gift to charity under your will

Australians are renowned for their generosity, but many people fail to reflect on the possibility of naming a charity when it comes to drafting their will. Most charities do not receive government support and therefore rely solely on donations to fund their philanthropic objectives. Charitable bequests are a great way

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Informal wills: a logical but costly advance in the Law of Succession

By Dan O'Connor • In Estate Planning, Estates, WillsComments Off on Informal wills: a logical but costly advance in the Law of Succession

One of the more intriguing developments in Succession Law over the past few years has been the rise of ‘informal’ wills as a legitimate testamentary instrument. Following amendments to the Succession Act 1981 (Qld) in 2006, the law in Queensland now permits a court to dispense with the formal requirements

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Update – Facebook ‘Legacy Contact’ Feature Now Available in Australia

By Ella McNamara • In Estate Planning, EstatesComments Off on Update – Facebook ‘Legacy Contact’ Feature Now Available in Australia

Following our recent article on the introduction of Facebook’s ‘legacy contact’ feature for users in the United States, Facebook has now made the feature available for Australian users from 13 May 2015. Australian Facebook users who are over the age of 18 years now have the ability to appoint a

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An End in Sight? Gina Rinehart’s Eldest Daughter Bianca Rinehart Given Control of $4 Billion Family Trust

By Ella McNamara • In Estate Planning, LitigationComments Off on An End in Sight? Gina Rinehart’s Eldest Daughter Bianca Rinehart Given Control of $4 Billion Family Trust

Most readers would be familiar with the highly publicised ongoing legal dispute between members of the Rinehart family concerning the lucrative Hope Margaret Hancock Trust (‘the Trust’). The Trust is valued at over $4 Billion in assets, including a substantial shareholding in the family’s flagship company Hancock Prospecting. In September

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SUPERANNUATION NEWSFLASH: Recent cases highlight the need for proper Estate Planning advice

By Ella McNamara • In Estate PlanningComments Off on SUPERANNUATION NEWSFLASH: Recent cases highlight the need for proper Estate Planning advice

Two recent decisions have highlighted the importance of proper Estate Planning advice in relation to your superannuation, particularly in respect to entitlements held in Self-Managed Superannuation Funds. Ioppolo v Conti In the Western Australian case of Ioppolo & Conti [2015] WASCA 45, the Court of Appeal had to consider the

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