Key issues in estate planning using trusts

From

A look at two important family trust issues that advisers may come across in establishing or managing the workings of a client’s estate planning using trusts. Issue #1: Who should be the Appointor of my Family Trust? When completing an instruction form for arranging a new family trust for a client, it is very likely […]

continue reading

Proper planning is always key to a succession and estate plan

From

Good estate planning is not only about the Will but in the detailed planning that goes into the other aspects of the estate to achieve the best outcome for your loved ones. Advice and documentation on succession and estate planning should take place sooner rather than later. It becomes difficult to have documents prepared and […]

continue reading

Did you know that the terms of a Will can be changed – or even ignored?

From

If the deceased’s Will conflicts with the family’s current circumstances or with the wishes of the beneficiaries they can take steps to change it. There are many reasons why such a disconnect could arise. There are many reasons why the terms of a Will can be changed: The deceased’s Will could be out of date […]

continue reading

The most important thing you (probably) didn’t know you could do with your Will

From

Choosing the person who will take care of your children should you pass away before they are 18 is, for most, one of the most important decisions you will ever have to make. Alarmingly, many people don’t realise that having a spoken arrangement with your trusted person is not enough. We set out who gets […]

continue reading

Is superannuation a part of your clients’ estate plans?

From

According to IOOF, superannuation can be an overlooked part of estate planning. However where competing beneficiaries have a claim to a deceased member’s death benefits, a well-documented estate plan can be a vital to solving estate conflicts. Here we look at two recent cases brought before the Superannuation Complaints Tribunal (SCT) which demonstrate the problems […]

continue reading

Executors work hard for the money – so you better treat them right!

From

Generally, where an executor of a deceased’s estate is a spouse, family member or friend, for example, they are not entitled to remuneration, particularly if they already receive a benefit under the deceased’s will. If an executor is not remunerated under the Will they can make an application to the court, which has the discretion […]

continue reading

Wife who murdered husband can’t claim on estate

From

In the recent case of Edward v State Trustees Limited [2016] VSCA 28 a wife who killed her husband in self-defence was not allowed to receive her husband’s estate under his will. In the discussion of the facts of the case there was a history of violence inflicted on the wife during her marriage and […]

continue reading

CPD: The power of disappointed beneficiaries – Why estate planning is fundamental to your offer

From

Estate planning is an area of advice that is often underestimated and addressed with two uninformative and basic questions: ‘Do you have a Will?’ and ‘Is your Will valid?’ This approach – for many reasons – is no longer acceptable. Disruptive technologies that have the potential to provide asset allocation, insurance and investment advice to […]

continue reading

New year, new Will: Estate planning tips for 2016

From

New year financial resolutions are common at this time of year, but one overlooked yet important action to take is to sort out Wills and estate plans, says Anna Hacker, National Manager – Estate Planning at Equity Trustees. “A fresh new year may seem like a strange time to be thinking about Wills, but it’s […]

continue reading

Lack of estate planning a growing issue for Australians

From

Many Australians still do not see estate planning as something they need to focus on, and many don’t realise they may in fact have very significant estates, said Mr Michael Hutton, head of wealth management of HLB Mann Judd Sydney. “The family home, superannuation balances and other assets, can all add up to a very […]

continue reading