An EPOA should always be considered in the wider context of an estate plan

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An Enduring Power of Attorney (EPOA) is a document where a principal (a person or company) appoints an individual or individuals (called the attorney) to act for the principal in relation to financial affairs, property matters and, in some States, lifestyle matters such as medical treatment or where the principal lives and how they should […]

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Can you revoke a will with a file note?

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A recent Tasmanian Supreme Court case considers this question: Wills can be revoked in a number of ways, typically by creating a later Will or executing a document to that effect in the same manner that a Will is signed. Where the proper formalities for revoking a Will are not followed, the court can consider […]

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Changes to succession laws in Queensland to affect blended families

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Walt Disney did stepmothers no favours when he created “Maleficent”, the wicked stepmother in “Snow White”. Thanks to her it is now a given that stepmothers are out to do the husband’s children considerable harm and need to be guarded against. But this is not necessarily true at all. Many step-parents care deeply for their […]

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Changes to requirements on trust property transfers

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Fred and Wilma are the trustees of the Flintstone Unit Trust which own a commercial premises in NSW and supplies building materials to its clients.  Fred and Wilma decide to retire and wish to sell their business to a third party. Following the sale and appointment of a new trustee, Fred and Wilma need to […]

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Making a $540,000 non-concessional contribution without any money

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On 1 July 2017 the maximum amount a member can contribute to their super fund each year non-concessionally (i.e. no tax deduction) will decrease from $180,000 to $100,000. Currently, a member can make a so-called “non-concessional” contribution (NCC) of either $180,000 or $540,000 (an advance contribution covering the next three years, triggering the so-called “bring […]

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Proper planning is always key to a succession and estate plan

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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 […]

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Electronic signatures: the cases have begun

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A director’s electronic signature placed on a guarantee without his knowledge led to court action by a company seeking recovery of a debt from the director personally. In Williams Group Australia Pty Ltd v Crocker [2016] NSWCA 265, Mr Crocker was one of three directors of a company which supplied building modules. His company filled […]

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The path to winding up an SMSF

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Winding up a SMSF may occur for a number of reasons but what needs to be done and what documents need to be prepared? There is a compliance/legal path to follow and this article outlines key points along that path. Note: This article is a general guide to winding up.  Each fund will be different […]

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Wife who murdered husband can’t claim on estate

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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 […]

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