Reversionary Pension to love child

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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 […]
02/12/2015

Accountants’ Exemption – who advises on your Super fund now?

(The link to the original Accountants’ Exemption paper is here) Self-Managed Super Funds are big business – and still so after the Accountants’ Exemption The number of SMSFs continues to increase. According to the ATO there were just over 528,000 SMSFs. There is $529 billion in assets. It is a big market. […]
28/10/2015

How to get UK pensions into an Australian Super fund

Getting UK pensions into an Australian Self-Managed Super Fund Many of us have UK pensions. From 6 April 2015, the conditions that an Australian superannuation fund (pension scheme) must satisfy to register with Her Majesty’s Revenue and Customs (HMRC) as a qualifying recognised overseas pension scheme (QROPS) has changed. The […]
22/10/2015

Dr Brett Davies’ Thesis – Business Succession Planning

Business Succession Planning Quick links: Dr Brett Davies’ thesis – Click here Business succession planning manual – Click here Estate planning manual – Click here Business Succession Planning Question: Dear Dr Davies, I am a financial planner specialising in business risk. I was hoping that you would make available your PhD thesis on […]
21/10/2015

Binding Financial Agreements – legally binding?

Binding Financial Agreements (BFAs). Legal Consolidated Barristers & Solicitors no longer does BFAs. To date, not one of our BFAs has ever fallen foul of the Family Court or other Courts. We have stopped doing BFAs while we have a 100% success rate. The Family Court keeps looking at new ways to […]
19/10/2015

SMSF Joint Tenants vs Tenants in Common

SMSF Joint Tenants vs Tenants in Common – Which is better? Question: SMSF Joint Tenants vs Tenants in Common is a common discussion. I agree that Joint Tenancy is generally dangerous because of the CGT regime as per your previous PRUDENCE (2nd Edition) article. However, should Trustees in an SMSF own […]
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) […]
19/10/2015

Super binding nomination messed up 3 times in Munro v Munro

Super Binding Nomination wrong three times in Munro v Munro Mr Munro, a lawyer, loved his two daughters from his first marriage. As in Cinderella, his second wife did not feel that love. His Will gave $350 000 to his second wife and the remainder of his huge estate to […]