News : Estate Planning

BDBNs can mitigate partiality risk

April 30, 2024

Conflict of interest Will Estate BDBN Death benefits

Trustees have two options to minimise the risk of legal challenges regarding conflicts of interest while managing an estate and determining the distribution of death benefits to beneficiaries.

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BDBNs, Death benefits, Estate Planning

Review fund deed when circumstances change

BDBN Seperation De facto Trust deed SMSF

February 26, 2024

Todd Wills

It is crucial to review the trust deed of a fund in the breakdown of a spousal relationship to ensure estate planning strategies can continue to operate as intended.

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Estate Planning, Superannuation

Intestacy rules may prevent will dispute

Superannuation Estate planning Will Intestacy State rules

February 26, 2024

Jason Spits

Superannuants should have a will, but state-based intestacy rules may sometimes deliver the same intended outcomes and avoid any disputes.

Trustee awareness key in benefit payments

superannuation member benefit death benefit ATO SMSF

January 9, 2024

Jason Spits

The ATO has further affirmed its treatment of a superannuation benefit paid after the death of a member will depend on the trustee’s awareness of that event.

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Estate Planning, Tax

Good tax outcomes need context

Incapacity Power of attorney Estate planning Income Tax Assessment Act

December 18, 2023

Darin Tyson-Chan

Certain estate planning strategies require specific communication to allow trustees to avoid triggering the Part IVA provisions of the tax act.

EPOA system needs national rules

Enduring power of attorney EPOA elder abuse Estate planning FAAA

December 6, 2023

Jason Spits

The use of enduring powers of attorney needs to be standardised across the country to prevent elder abuse and ensure attorneys are fit and proper persons.

Best openings from older clients

SMSF trustees Pension Strategies Financial advice Inheritance Estate planning

October 26, 2023

Darin Tyson-Chan

Two distinct issues have been identified as areas on which advisers should concentrate in order to provide the greatest value for their SMSF clients.

Need for wealth transfer help common

October 17, 2023

Jason Spits

Many Australians who have yet to retire are actively looking at how they can pass on money to their successors, with the lack of information creating opportunities for advice.