Wills

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11/09/2017

New profit centre for Accountants and Financial Advisers: Setting up a business structure

New profit centre for Accountants and Financial Advisers: Setting up a business structure This week is you setting up business structures for your clients. We have seen a 400% increase in Family Trusts and Unit Trusts being built on our website over the last 12 months. Baby boomers are refusing […]
25/08/2017

New profit centre for Accountants and Financial Advisers: Estate Planning

  New profit centre for Accountants and Financial Advisers: Estate Planning I hope you enjoyed last week's new area of practice: updating SMSF Deeds.  This week's new profit centre is Estate Planning. Some people incorrectly believe that Estate Planning is about a lawyer making a Will. I have prepared an […]
28/03/2017

Accountant & Adviser’s reviewing client Wills – 8 questions to ask

  Reviewing client Wills each year Estate Planning and Wills are primarily the concern of the Accountant and Adviser. You know your client. You see your clients at least once a year. The end of financial year is a good time to sit down with your clients and review their […]
25/03/2017

CGT on dead wife’s wedding ring. Faults in Will drafting.

  CGT on dead wife’s wedding ring. Faults in Will drafting. Capital Gains Tax on dead people's jewellery - CGT death duty on a wedding ring Sometimes people make a mistake and name a Specific Gift in their Will. For example, ‘my wedding ring to my daughter’. The result may […]
20/07/2016

Who can challenge a Will? Fireproof your Will

  Who can challenge a Will? Each States' Family Provision Act sets out who can challenge a Will  Courts are reluctant to interfere with your Will. However, legislation exists in all Australian States and Territories. They enable certain people to apply to the court for 'provision'. Or if they got something […]
19/10/2015

Joint tenancy is old fashioned and dangerous

  Joint tenancy is old fashioned and dangerous   QUESTION: Please explain why you don’t like assets being held as joint tenants? As an accountant, I estimate that 80% of my clients own real estate as joint tenants. ANSWER: Back before 1980, Death and Probate Duties existed. At that time […]