A Testamentary Trust is a Trust that is set up in your Will to look after your loved ones after you are gone. As a Testamentary Trust is included in your Will it only comes into existence after you die! The way a Testamentary Trust works is that you set up a Trust in your … Continue reading How does a Testamentary Trust Work?
Inheritance Tax and Trust Funds In NSW Inheritance Tax and Trust Funds in NSW can be complicated to set up, here is a scenario that I’m often confronted with. I would like to put $150,000 in Trust to each of my four children who are all in their 20’s. Will they have to pay inheritance … Continue reading Inheritance Tax and Trust Funds
I am the single parent of a child with severe disabilities. What can I do in relation to providing for them in my Will? I want to ensure that they are properly taken care of when I am no longer able to. You are not alone in worrying about what will happen to your child … Continue reading Single Parent Of A Child With Disabilities
Estate Planning in NSW Estate Planning is something that can be discussed when you see a lawyer to make a Will. Do you need to see an accountant as it involves financials? Estate Planning is definitely something that you need to discuss with your Lawyer, even before you consider making a Will. An expert Wills … Continue reading Estate Planning
Death, funeral expenses and contesting Wills and we thought that life was complicated! Here is a scenario that can cause dilemmas for many families. My father died and I have been left with the costs of his Funeral Expenses and the sale of his house. Sixty per cent of his Will has been left to … Continue reading Death, Funeral Expenses and Contesting Wills!
What is the different between Testamentary and Discretionary Trusts, below is a short explanation of each. What is a “Trust”? A Trust is a legal arrangement where you appoint a Trustee to hold your assets for the benefit of your beneficiaries. Trusts can be set up in many different ways to suit your circumstances … Continue reading The Difference Between Testamentary and Discretionary Trusts
The Guardianship Tribunal are for people who are planning for their future, they will generally understand the need to have an Enduring Power of Attorney in the event that, they are unable to make financial decisions. However, often people do not consider who, or how, decisions about their lifestyle will be made for them in … Continue reading The Guardianship Tribunal
“We each want to provide for own children” I am Remarried and Want To Protect My Childrens Inheritance With well over a third of relationships failing, there are more single people seeking to re-partner, whether it be in a marriage or a de facto relationship. Many of these new couples are of mature age, with … Continue reading Protecting My Childrens Inheritance
Looking to the future! Trust Funds – Is it a good idea to have a Trust Fund? My mother is going to have to sell her home to go into care facilities – Is it correct that if the money is put into Trust it can’t be accessed by the Care Home to pay for … Continue reading Trust Funds and Retirement Homes
“I don’t want the kids to have to move” Protecting Your Childrens Inheritance – Many parents are concerned that if they die they do not want the family to have to move – they believe that the death will be traumatic enough without having to adjust to a new home as well. Mark felt that … Continue reading Protecting Your Childrens Inheritance