Top 7 legal documents Accountants build at end of financial year

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01/04/2017

Top 7 legal documents Accountants build at end of financial year

7 documents Accountants build at end of financial year I have sold over 16,000 Self-Managed Super Funds and 18,000 Family Trust Deeds online. Surprisingly, however, these are the 8 most common documents Accountants build at End of Financial Year: 1. Trust Distribution Statements for Family Trusts 2. Family Trust Vesting […]
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 […]
20/07/2016

Are Family Trusts replacing Self-Managed Super funds?

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 it appears that clients are losing confidence in […]
20/07/2016

Charity v Son – Dad’s Will challenged

Charity v Son – Dad’s Will challenged Dead Zopito Di Cesare left everything to charity. His son, Ivano Ferrante last week filed a Supreme Court writ against the charities.  Usually, a son argues that he wasn’t getting enough out of his Dad’s Will and asks the court to rewrite the […]
20/07/2016

Stop your Will being challenged with a Considered Person Clause

Who can challenge a Will with a considered person clause? Each States’ Family Provision Act sets out who can challenge a Will Courts are reluctant to interfere with your Will. However, legislation exists in all Australian States and Territories: New South Wales: Succession Act 2006 (NSW) Victoria: Administration and Probate Act […]
03/06/2016

Is one boy worth two girls?

Fatma is a loving and devout daughter to her mum. However, under her brother’s interpretation of Muslim law, one man is worth two women. Fatma’s brothers constructed a Will for their mum to sign whereby they got twice as much as their sister. The Supreme Court said that Mum was […]
24/05/2016

How to remove evil and dead Trustees from your SMSF

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 it […]
29/03/2016

Accounting firm faces Court over alleged involvement in underpayment of workers

A Victorian accounting firm will face court over its alleged involvement in the underpayment of two Taiwanese backpackers working for one of its clients. The Fair Work Ombudsman has commenced legal action against EZY Accounting 123 Pty Ltd in the Federal Circuit Court in Melbourne. It is the first time […]