TECHNICAL ARTICLES

There are tax, control and other advantages available through testamentary trusts that make them an effective estate planning tool. What is a Testamentary Trust? Testamentary trusts are simply trusts created by a Will to provide a greater level of control over the distribution of assets to beneficiaries. They do not…

Understanding the range of options available in proper estate planning is vital to ensuring the client’s needs are met. In this article, the advantages and disadvantages of considering either superannuation child account based pensions or using the Will to create testamentary trusts are considered. Who will be the death benefit…

Your Will is a legal document that sets out directions for the administration and disposal of your assets after death. Whilst most people are familiar with the concept of a Will, many are surprised to learn that a Will cannot automatically control the distribution of their interests in Companies, Trusts…

Whilst binding death benefit nominations are the most commonly used estate planning tools for SMSFs, there are alternatives, such as a death benefit guardian. The role of the death benefit guardian is, basically, to ensure death benefits from a SMSF are applied in accordance with the wishes of the deceased…

Estate planning is an exercise which requires not only the establishment of a plan but ongoing review and revision. This article uses a case study scenario to illustrate the problems which can arise without a proper, and regular, review of estate plans. Joe Joe is a single parent who has…

The role of the appointor in a family trust is one of the most important considerations when deciding on an appropriate structure The position of an appointor of a trust is not one which is required in the context of general trust law principles, but it is a creation of…

The Powers of Attorney Amendment Act 2013 (“Amending Act”), assented to on 7 May 2013 introduced changes to the NSW Powers of Attorney Act 2003 (“Act”) with effect from 13 September 2013. The changes introduced as a result of the amendments to the Act are described in this article. Appointment…

Under the Evidence Act 1958, certain people can witness the signing of a statutory declaration in Victoria. These are outlined below. a justice of the peace or a bail justice a public notary an Australian lawyer (within the meaning of the Legal Profession Act 2004) a clerk to an Australian…

This article examines the concept of managing lumpy assets in a self-managed superfund. When the trustee of a SMSF considers borrowing to acquire real estate, consideration is often given to: the potential investment gains to be made; the benefits of borrowing; and managing the loan payments. What is often overlooked…

Your Will is a legal document that sets out directions for the administration and disposal of your assets after death. It must comply with strict formalities to be valid. However, even a valid Will can sometimes be totally ineffective if it does not achieve what you intend because of assets…