Estate Planning
What estate planning options do I have for a blended family?
Blended families create unique estate planning issues. There is a risk the children of a previous relationship are excluded from a Will or what is commonly see is the surviving spouse or partner receives nothing or not enough. In this article we touch on a few of those considerations.
Read MoreDoes an Estate or Death Tax exist?
There is a common misconception that a blanket “death tax” or “estate tax “exists. There are no inheritance or estate taxes per se, however, estates and beneficiaries alike may still have tax obligations related to certain assets.
Read MoreHow does an inheritance impact my Age Pension?
The impact an inheritance may have on your Age Pension payment is very much a case-by-case scenario. It depends on one’s existing wealth, the amount inherited, and the circumstances of receiving the inheritance. For example, did you receive the inheritance from your parents or was it a spouse who passed away. In this article we unpack some of the considerations.
Read MoreProtect your estate from these mistakes
Estate planning is a complex area of law, and basic mistakes can lead to Wills being declared invalid, assets ending up with unintended recipients, or benefits reduced by avoidable tax bills. So, how can you steer clear of these pitfalls?
Read MoreDo I Need to Prepare a Will & What is Estate Planning?
Do I need a will?
Estate planning is vital for everyone (no matter how wealthy you are). Without a plan in place, there could be a long-lasting impact on your loved ones.
Nominating beneficiaries for your Super
We often receive questions about superannuation benefits and how they would be paid out to loved ones in the event of death. Questions often arise because of the common misconception superannuation forms part of your estate. Superannuation is not an estate asset and will not automatically get distributed according to your Will. Super has its…
Read MoreIntroducing the My Estate Planning Profile
Typically, estate planning is a relatively straightforward process. For most individuals having a Will, Power of Attorney, and Superannuation Beneficiary Nomination is quite enough. While it’s a great first step to have all of these measures in place, it only tells half the story when it comes time for your Executor to administer your estate. …
Read MoreEstate Planning – Reversionary Pension and Binding Death Nomination
In this weeks Q&A, we answer Deb’s estate planning question about a reversionary pensions and binding death nomination.
Read MoreNew Powers of Attorney legislation in Victoria
From September 1 new legislation surrounding the composition of Powers of Attorney will come into use in Victoria. Although the changes are minor, it’s important to know where you stand.
Read MoreEstate Planning Checklist
There are a wide variety of events that should prompt you to review your estate plans, for example:
- the ageing of an executor appointed in your Will
- the arrival of children or grandchildren
- the breakdown of a child’s marriage
- the threat of some commercial misfortune to a child
- the graduation of a child into a professional career
- a resolve to assist a needy charity
You should think just as carefully about the possible onset of incapacity. Whilst your will deals with matters upon your death, it has no bearing on the onset of incapacity if that occurs.
These are some fundamentals to consider when reviewing your estate or incapacity plan:
Read More