Change of Trustee Concession Rules
When the trustee of your trust retires, or you appoint a new trustee, you usually only pay nominal stamp duty of $50. The Chief Commission of Stamp Duties looks at the transfer of property carefully to check that the transfer is not really giving someone new the benefit of the property. The old rules required […]
You Can’t Pick Your Family, But They Can Claim Your Estate
An ‘eligible person’ can make a claim on your estate if you did not make adequate provision for that person. An eligible person includes a spouse, a former spouse, a child, a person that the deceased was living with or are in a close personal relationship with, or a person who was at a time […]
Would Sir or Madam like a Contract “to go” with those Mutual Wills?
Many couples make Wills on the same terms – they choose the same executors, beneficiaries, and asset distribution. However, there is nothing to stop one – or both – changing his or her will to dis-inherit beneficiaries that the couple had jointly understood would benefit on death. Absent a formal contract to make mutual wills, […]
Wills, SMSFS and Binding Death Benefit Nominations – Get Yours in Line
Death! Now has that got your attention? If not, how about enriching all the lawyers? When you die, your superannuation does not form part of your estate unless your superannuation fund trustee sends it to your estate. Your superannuation is for your benefit, but in all cases you personally are not the legal owner of […]