Presentation: PAFs – November 2022
Please find below a copy of the slide deck for our presentation on Private Ancillary Funds in November 2022 For further information about the issues raised in this Seminar, please contact us on 1300 654 590 or by email. To download our slide deck, enter your email below. [et_bloom_locked optin_id=”optin_67″] Download here [/et_bloom_locked] We are […]
How does an executor resign?
If you’ve been named as an executor in someone’s Will but don’t want to act, here’s what you need to do.
Why do I need more than one Executor for my Will?
Do you have more than one executor named in your estate planning documents? If you don’t, then you need to read on.
How to sign a Will
You are at the finish line – you are about to sign your Will. You have balanced the needs of your family, thought about your wealth distribution and your lawyer has drafted a protective and tax efficient Will. What could go wrong?
What is a family office?
You may have heard of the concept of a family office and wondered what on earth it’s all about. If you have sought retail therapy at MYER, watched free to air television on the Seven network or treated yourself to some Paspaley pearls, then you have inadvertently been in the realm of a family office.
It’s not always easy passing wealth to the next generation
When it comes time to make an Estate Plan, most people have at least some idea who they want to give their wealth to. In many cases, they first want to give it to their partner, and then after their partner dies, they want to share it equally among their children. This is what we call the ‘standard’ or default choice.
For families with considerable wealth, there is one more ‘layer’ of planning you must consider. This is the scenario if one of your children dies, either before or after inheriting.
Once again, there tends to be a default in this scenario, that is, the children of your child (i.e. your grandchildren) will take their parent’s share. In this manner, the wealth passes down your ‘family’s bloodline‘.
This sounds simple and appropriate, but it does raise several critically important issues – that justify more thought.
Farm Trusts | Stamp duty relief on farm transfers in South Australia
A farm trust is a discretionary trust that is used to own land for primary production while also providing flexibility so the property can eventually be transferred to other family members. Asset protection, tax efficiencies, and ‘controlled succession planning’ are the key benefits of a farm trust.
What do I need to do to ensure my Private Ancillary Fund remains compliant?
Have you set up a Private Ancillary Fund (PAF) lately? Or are you thinking of setting up a PAF for charitable purposes, potentially endorsing it as a Deductible Gift Recipient? We know you did this (or want to do this) to jump start private philanthropic charitable donations. But now comes the tricky part: the rules, regulations, and ongoing obligations surrounding your PAF’s operation.
Executors and the Bankrupt Beneficiary
Beware the bankrupt beneficiary
Will Makers and the Bankrupt Beneficiary
The protest rallies around every major city in the last two years suggests many people are struggling financially, so what can you do if you have a bankrupt beneficiary?