Reversionary Pensions from dead husband – do they count towards your $1.6m pension? Reversionary pensions allow your spouse’s super to remain in super after they die – but there are problems. You can have more than $1.6m in your Superannuation fund....
Abandon a gift in a Will to keep the pension? The Financial Planner carefully structures Mary’s affairs. Mary receives a $1 pension and a Concession Card. But then, Mary’s mother dies. Mum’s Will leaves everything to Mary. The inheritance costs Mary her $1 pension and...
Art in SMSF is not a problem. However, every Self-Managed Super Fund, as part of its Investment Strategy and Product Disclosure Statement, must consider whether insurance on the fund’s assets is desirable or prudent. There is less than $500m of collectables...
Are Family Trusts replacing Self-Managed Super funds? We are seeing a renewed interest from professionals for Family Trusts. Family Trusts built on our website have surged 38% in the last 12 weeks. Conversely, SMSFs have dropped by 23%. On speaking with professionals...
Charity v Son – Dad’s Will challenged Dead Zopito Di Cesare left everything to charity. His son, Ivano Ferrante files a Supreme Court writ against the charities. Usually, a son argues that he was not getting enough out of his Dad’s Will and asks the court to...
Removing Trustee and Members from your SMSF There is a good reason in wanting to share your SMSF with others such as your spouse, children, in-laws and business partners. After all, they are expensive to operate and to have the cost divided by up to 6 people makes...