Why you should have a Corporate Trustee Many advisors recommend to their Self-Managed Superannuation clients the value in having a corporate trustee in place. To comply with the current superannuation laws, you can have either individual trustees of the Fund (provided there is more than one individual) or a corporate
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Mar
Mar
Superannuation
Superannuation Issues with Binding and Non-binding Nominations Most Australians now have superannuation. For many, it is one of their largest assets, particularly where there is life insurance as part of the Fund. If you have superannuation, you can generally make a beneficiary nomination – either binding on the trustee or
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Feb
Feb
A Sign of Relief for Step-Parents: Stanford v. Stanford
The Stanford tale begins in 1971 when Mr and Mrs Stanford exchange marriage vows. Thirty seven years into what is a second marriage for both, tragedy strikes when Mrs Stanford suffers a stroke. She is relocated to a nursing home away from her matrimonial residence and she develops dementia. Mr
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Jun
Jun
Property Settlements and Binding Financial Agreements Part 2
In today’s economic climate, the need to protect assets against disasters such as bankruptcy, death and divorce is high. There is no such thing as a standard family with more and more individuals entering into subsequent relationships which makes for complicated blended families. Part 1 (posted on 23 May 2012)
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May
May
Property Settlements and Binding Financial Agreements
In today’s economic climate, the need to protect assets against disasters such as bankruptcy, death and divorce is high. There is no such thing as a standard family with more and more individuals entering into subsequent relationships which makes for complicated blended families. Part 1 below deals with settlements where
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Jan
Jan
Important Estate Planning issues if you have an SMSF
Superannuation is rapidly becoming a major asset for most Australians. This is particularly the case where you have your own self managed superannuation fund (SMSF). Having your own SMSF gives you more flexibility and control over your superannuation. However it means that it is essential that your superannuation is dealt
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Jan
Jan
Estate Planning – Why It Is More Than Just a Will
Estate planning is a more complex area of law which often involves more than just putting a “simple” Will in place. Many people do not realise that their Will cannot necessarily deal with all of what they may perceive to be their assets. This is one reason why do-it-yourself Will
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Nov
Nov
What Happens if You Don’t Have a Will?
Everyone should have a Will. It is important to have a Will to nominate who is to receive your assets, and importantly, who you wish to look after your infant children. You may not consider that you have enough in assets to need a Will. However, most people have superannuation
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Oct
Oct
Trust Deeds After Bamford
A trust deed that does not grant a trustee the power to classify income as capital and vice-versa in circumstances where tax laws allow this will obstruct the ability to optimise the tax benefit of a discretionary trust. The High Court determined that the ability for a trustee to classify
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Sep
Sep
Three Documents Every Australian Should Have
What are the three documents every Australian adult should have? 1. A Will Where there’s a well drafted Will there’s a way to provide for your loved ones and avoid a family dispute. Every Australian over the age of 18 should think seriously about making a Will because no one
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