Discretionary family trusts aren’t just for the super wealthy. They are a common asset protection and tax minimisation tool for thousands of Australian families. They often include a long list of potential beneficiaries. It’s probably fair to say, over the years...Read More
I recently did some DIY at home, painting my daughter’s bedroom. The result was okay (as long as you don’t look too closely). Unfortunately, when it comes to DIY Wills, people do look closely. A Queensland Case from late 2023, Re Chambers, is yet another example of...Read More
With the aging population, it is more common to assist clients in their 80’s or 90’s with a new Will. It is not uncommon to receive instructions from older clients to skip their children as beneficiaries and make the grandchildren beneficiaries instead. Recently, the...Read More
Have you accepted the role of Executor of a deceased person’s estate? Depending on the nature, size and value of the assets within the estate, you might quickly learn the role can be quite complex. It can involve a significant amount of time and effort in: Identifying...Read More
What do these have in common? They were all key ingredients in a recent case before the Queensland Supreme Court. Robert thought his estate planning was in place. After all, Robert had: A Will; A Death Benefit Nomination to deal with his Self Managed Super Fund; and...Read More
It’s time to get that task of updating your estate plan off your “to do” list! Chances are it’s something you’ve been intending to do but haven’t quite “got around to it”. Your Will and estate plan is something you should regularly review to ensure it is up to date....Read More
Ever heard of DA 000.10.1? Is it the latest COVID19 variant? If you have a Self Managed Super Fund, you might want to read on… DA 000.10.1 is a Public Ruling by the Commissioner of State Revenue. As your level of interest starts plummeting to zero, I’m hoping,...Read More
A recent decision in the Maroochydore District Court has prompted me to write again about people challenging Wills. A person can challenge a Will if it doesn’t make “adequate provision” for their “proper maintenance and support”. To challenge, you need to be within a...Read More
If you accept the role of executor of an estate, you take on certain legal responsibilities. After the payment of estate debts, the primary obligation of an executor is the transfer of the assets of the deceased to the beneficiaries named in the Will. But what happens...Read More
Your Will is confidential. It is entirely a matter for you where it is kept so it is safe and can be located. There is no Government register of Wills made in Queensland. It is not uncommon for a person to pass away and for their original Will to be missing but for a...Read More
