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.
Lost or destroyed Trust Deeds
Have you lost your trust deed? In this article we explain what you can do about it.
Are there ever ‘good’ reasons to hide assets?
Why would someone want to hide their assets? If you are an oligarch, the answer is obvious – you don’t want a hostile foreign government freezing your bank account or seizing your super yacht or villa on Lake Como. If you are an ordinary person, you may merely want privacy and protection against third party […]
Is your reversionary pension really binding on your SMSF trustee?
Budget Update Notice: The 2026/27 Federal Budget contains proposals that may affect the information in this article. As at the date of this notice, these are proposed measures and have not yet passed into law. We are reviewing and updating our content as the legislative process progresses. If you are making a decision based on […]
Trust Distribution Resources
We know that getting your trust distribution minutes right can be a headache.
To help, we have compiled a series of useful articles and links below that will help you optimise your trust distribution minutes and assist you in getting them right the first time, every time.
Should I include my children as members of my SMSF?
Including your children as members of your SMSF can be quite beneficial, but do you know the risks and disadvantages of doing so?
A dummies guide to unit trusts
Not all unit trusts are created equally. Make sure you get the right unit trust to suit your purposes.
What happens in South Australia when an executor loses mental capacity?
What happens if the executor of an estate or trustee of a testamentary trust loses mental capacity?
When do you need to have your trust distributions minutes prepared by?
It’s almost 30 June. Have you done your trust distribution minutes?