Are funeral wishes in a Will legally binding? The funeral wishes in your Will are not legally binding. Your executor is not required to follow them. Do not clutter your Will with directions for your funeral and remains. Your Will has to take a journey. It goes to...
[smartslider3 slider=2] CGT Family Home – that does not seem fair Death and Probate Duties were abolished by 1981. However, in 1985 the Federal Government introduced Capital Gains Tax. CGT earns the Government more money on deceased estates in a single...
We do not set up ‘Child Maintenance Trusts’ We do not set up ‘Post-Death Testamentary Trusts’ or ‘Child Maintenance Trusts’. We cannot fix the tax problem you left behind because you failed to plan while you were alive. Rather, this article is a cautionary tale. It...
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...
Joint tenancy is old-fashioned and dangerous Joint Tenancy vs Tenants in Common Tenants in common: each owner holds their discrete share of the asset outright. It can be 20% and 80%. Or it can be 50% and 50%. Or it can be 34%, 6% and 60%. However, it must equal 100%...
