It is estimated that up to 50% of Australians do not have a valid Will in place. When a person dies without a Will, their Estate is governed by what are known as the intestacy provisions in the Administration and Probate Act. These provisions allow the Estate to be...
Many clients with a real estate portfolio choose to create discretionary testamentary trusts (DTTs) in their Wills in order to pass the benefit of the portfolio on to their children. The DTT structure has many taxation benefits; however, it is also worth considering...
When considering their succession plan and how they wish to distribute assets during their lifetime, many of our clients raise the idea of giving money to their children for the purchase of a home. With property prices remaining high and increased interest rates...
When contacting us to discuss Estate Planning, our clients are usually focused on the legal aspects of what happens after their death, such as ‘who gets what’, creating testamentary trusts, or business succession. While it is crucial to have a legally binding Will to...
“Leave the children enough so that they can do anything, but not enough that they can do nothing” In a note to shareholders, US billionaire Warren Buffett expressed his belief that his children should not inherit his (almost incomprehensible) wealth following his...
A recent article in the Wall Street Journal posed the question of whether parents should give their children their inheritance, in whole or in part, during their lifetimes, or wait until after death, when their assets will be dealt with according to the provisions of...
