Extend the vesting date of my family trust? Most Australian trusts, at some point, must vest. The trust must end after 80 years. This is based on ancient English law. The government does not want a trust to go on forever. This is because it may end up that no one is...
The songwriter Richard Clapton, in 1975, warned: Girls on the avenue, they’re trying to get you in, Strolling by with their rosebud smiles. Sadly, Mr Sha didn’t heed such advice. While living with his wife, in Melbourne, Mr Sha engaged the services...
Couples Estate Planning Bundle $1,122 includes GST Start for free Checklist Singles Estate Planning Bundle $726 includes GST Start for free Checklist New profit centre for Accountants and Financial Advisers: Estate Planning I hope you enjoyed last week’s...
POAs and SMSFs To operate a complying SMSF you must usually: 1. live in Australia; and 2. be of sound mind. 1. Leave Australia: Your Self-Managed Superannuation Fund must satisfy a number of residency tests. One of those tests is that ‘central management and...
‘Life Estates’ do not work. Life estates in Wills are bad for tax. A ‘Right to reside’ is no better. A Life Estate (including under a Will) is an asset with two owners: Life Tenant – this person has the exclusive right to live and make a...