Hey founder, are you being left behind?
Founding a company is a lot easier than retaining control of it. Part of your journey will necessarily involve other people. First, it may be a co-founder. Then family and friend investors, and ultimately professional investors. During this evolution, the chances of you being left behind, and things getting out of control, increase exponentially. We’ll help you get back in control, with a binding entitlement to what you’re worth.
A rant on challenging Wills
A few judges and populist politicians have recently made some snarly comments about lawyers and ‘greedy’ people who are challenging Wills. Apparently, as a profession, we are getting a bit of ahead of ourselves in bringing too many of these cases to court. Read this article to get informed about the debate.
Yes, you do need a testamentary trust
Most people who advise on testamentary trusts talk about the ‘tax benefits’. This emphasis is plain wrong. Why? Because, a simple Will (without a testamentary trust) is more likely to do harm, and to lead to family disharmony, than one with a testamentary trust.
What happens to a gift in your Will if you no longer own the asset when you die?
A gift of property that is no longer in your estate when you die automatically ‘fails’ (or ‘adeems’). This rule can lead to unfairness and unintended consequences.
How to direct particular super assets to particular beneficiaries
A key benefit of having your super in a SMSF is that you can choose who ultimately benefits from particular assets within your fund when you die.
“Show me the money!”: Tread carefully with loans to children
People are more aware – and wary – than ever of family law issues in relation to their assets. More and more couples seek binding financial agreements to protect their assets, or put off living together or marrying to minimise their financial exposure.
‘UPEs’ and ‘FMDs’, and your estate planning
What is, and what is not, in your personal estate? This may sound like a academic question not worthy of a lot of thought. However, if you are in estate planning mode, it is critical that you answer this question correctly.
Can your partner change their Will after you die?
Just because you and your partner make ‘mirror Wills’ does not mean that your partner cannot change their Will (either before or after you die). Furthermore, your partner does not have an obligation to inform you if they do change their Will. Find out how to deal with these issues.
Is your executor automatically appointed as your replacement trustee/director for your SMSF?
The short answer is, no. There is no law or regulation that has that effect. It may be that the terms of your super fund deed provide for this to occur. However, most super fund deeds that we have come across do not. See Ioppolo v Conti WASC 389 and Wooster v Morris VSC 594. […]
It’s official. Super isn’t part of your estate.
Your super doesn’t form part of your estate, and is not subject to the terms of your Will. It’s therefore critical to have in place appropriate arrangements to make sure your super ends up where you intend.