Mum dies, baby pays 66% tax

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07/11/2016

Mum dies, baby pays 66% tax

Parent dies leaving children under 18 – use of Post-Death Testamentary Trust In a perfect world, you build a 3-Generation Testamentary Trust in your Will. When you die, your Estate is tax-free for 80 years. A 3-Generation Testamentary Trust washes out the de-facto death duties: Capital Gains Tax, Stamp Duty […]
23/10/2016

Unsigned Will still valid – Statutory Will

Unsigned Will of dead Athena White; Parry v Smith What do you do with an unsigned Will? The Will was never signed. However, the Chief Justice said the Will was still valid. Under  s.21(2)  Succession Act, an order authorising a statutory is only made while the Will maker is still alive.  […]
29/03/2016

Reversionary Pension to love child

Muriel’s husband died a few years ago. At 54 she fell in love again and was the oldest mother in her city. She called her love child Colin. Her two oldest children, Ian and Brian, are successful engineers. Muriel’s assets are all in her Self-Managed Super Fund. As the sole director […]
19/10/2015

Court rewrites Will to save tax – Court-authorised statutory Wills

Court rewrites Will to save tax – a novel remedy for crazy people Each of the States and Territories allow the making, revoking and varying of a Will. But only if you lack testamentary capacity: South Australia: section 7 Wills Act 1936 (SA) ACT: section 16A Wills Act 1968 (ACT) […]