How does a Reversionary Pension work with a Binding Nomination? When managing your superannuation for the benefit of your heirs, especially involving vulnerable beneficiaries, combining Reversionary Pensions, Binding Nominations, and the strategic use of a...
Legal Consolidated does not practice in Family Law. However, as taxation and superannuation lawyers, we were asked to prepare a paper for a family law conference. This was the conflict between bankruptcy and the Family Court. This article is an adaptation of that...
Do overseas Australian Expats need a tax-effective Will and POA? I completed my doctorate in succession with my wife while living in London, I have firsthand experience of the allure and complexities of living overseas. Today’s globalised world tempts many of us with...
Using Trusts for Property Loans Trusts are often used to protect assets, reduce taxes, and plan for the future. The main types of trusts for loans are 3-Generation Testamentary Trusts in Wills, discretionary trusts (family trusts), unit trusts, self-managed super fund...
Family Trust and Wills Family Trusts vs Wills - never the twain shall meet Family Trusts have nothing to do with Wills. And Wills have nothing to do with Family Trusts. They have separate laws and tax rules. A Will gives away what you own. In contrast, you don't 'own'...
Q: What happens if, when we die, there is still a mortgage attached to the properties? If we were to die soon, each house would have a $400k mortgage. Most of this ($300k) could be cancelled out using the equity from our primary residence, but what happens if...
1. Address changes after I sign my Will and POAs? An advantage of Legal Consolidated Wills, POAs and all our legal documents is that if: your address changes in your Wills, POAs or any other legal documents; or the addresses change for your executors, beneficiaries,...
