The Tax Future of Testamentary Trusts
Strictly speaking, a testamentary trust comprises of any trust created under the terms of a Will. However, in recent times, the term ‘testamentary trust’ is most often used to describe what is commonly known as a ‘discretionary trust’ contained within a will. These trusts are almost identical to regular family...Read More
Distributing Death Benefits in SMSF’s – Trustees must proceed with caution
The Victorian Court of Appeal has recently handed down its decision in Wareham v Marsella  VSCA 92 which has highlighted the need for trustees of SMSF’s to proceed cautiously when resolving to distribute a deceased member’s SMSF benefits in the absence of a valid binding death benefit nomination. This...Read More
Estate Planning: Why do I need to review my will?
If you are one of the almost 50% of Australians who have taken the time and effort to make a will then well done- you are already ahead of the pack. But don’t get complacent just yet. A will is not a “set and forget” kind of thing. You must...Read More
Help! I’ve been left out of the Will
If this has happened to you then you should contact a lawyer for expert advice immediately. In some circumstances, there is legislation that can allow you to make a challenge to a Will if you have not been properly or adequately provided for in the Will. However, it is important...Read More