Singles Tax Effective Estate Planning Bundle

Singles Testamentary Trust Bundle

The singles online bundle includes:

1. a tax-effective 3-Generation Testamentary Trust Single Will;
2. a Power of Attorney; and
3. a Medical POA.

Each document comes with a cover letter explaining how to sign. Press the above blue button above to start building the Estate Planning bundle online.

1. Tax effective Will with 3-Generation Testamentary Trust Will

The tax effective Will contains 3-Generation Testamentary Trusts.

And to the tax man, I leave…

Every year, Australian taxpayers voluntarily pay the government millions of dollars in ‘death taxes‘. The four de facto death duties are:

1. Capital Gains Tax
2. Stamp Duty
3. Income tax
4. up to 32% in non-dependency Superannuation tax

Proper Estate Planning ensures that your estate goes to those you care about. Not the Tax Man.

3-Generation Testamentary Trusts automatically put in your Will

Professor Brett Davies invented Testamentary Trusts in 1994. In 1997, he invented the 3-Generation Testamentary Trust. The 3-Generation Testamentary Trusts’ benefits include:

1. superior tax advantages for your beneficiaries
2. generally, pay no tax on the estate income for 80 years
3. works for three generations: beneficiaries, their children and grandchildren
4. discretionary in nature: a beneficiary can choose not to set up any trusts
5. each beneficiary gets their own 3-Generation Testamentary Trust
6. the beneficiaries can divide up the class of assets differently. Say you have $1m in shares, $1m in property and $1m in cash. One of your children can take all of the shares. The other is the property. The remaining child takes the cash.

Stop the 32% Tax on Super going to adult children when you die

At death, your adult beneficiaries pay 17% or 32% on your Superannuation.  That is a non-dependency tax. It is on your concessional superannuation. Our Super Testamentary Trust, which you get in your Will, seeks to reduce this tax to zero.

What happens if your children divorce after you die?

The Divorce Protection Trust delays or stops any capital or income from a beneficiary suffering divorce or separation proceedings. It is designed to reduce the opportunity for the Family Court to get its hands on your money.

The Divorce Protection Trust sits dormant in the Will until needed. It is activated to benefit the married person and their children and grandchildren. It removes that person’s power to control the trust while suffering the separation.

The Divorce Protection Trust benefits the current and succeeding generations by protecting assets from the Family Court.

The trusts in your Will include:

1. 3-Generation Testamentary Trusts – reduces CGT & stamp duty
2. Superannuation Testamentary Trust – reduces the 17% or 32% tax on Super going to adult children
3. Bankruptcy Trusts – if a beneficiary is bankrupt
4. Divorce Protection Trust – if a child separates, it stops the Family Court from taking your money
5. Maintenance Trust – if a beneficiary is under 18 or vulnerable

2. Enduring Power of Attorney

The second document that comes in the bundle is the enduring POA. An Enduring Power of Attorney (POA) is a legal document. It allows you to appoint a person to make decisions about your assets. The POA deals with your assets, e.g. real estate and bank accounts. A POA stops the government from meddling in your affairs.

3. Medical Power of Attorney for every state

While your Enduring POA looks after money, your Medical LIfestyle POA deals with your body. Who looks after you when you cannot? The government, retirement home or doctors? Should the government control your body? Do you trust your family more? If so, empower your family with a Medical POA (Power of Guardianship).

Wife trapped in a retirement facility?

Our client had a wife. She was trapped in a high-end aged care facility. She had Alzheimer’s Disease. Our client wanted to get her out. The home said he had no right to touch or move a person. Not even a wife. He rang me in tears. I told him to go home and get the Medical Power of Attorney. He got it. The retirement facility saw it. He got his wife out.

Escape a bad hospital

Our client’s wife was in hospital. The doctors were ‘behaving like Gods, not doctors’. Our client presented the Medical POA. And he moved her to another hospital. There was nothing the doctors could do.

The Medical POA allows you to appoint loved ones. If you lose mental capacity, then they decide your:

• personal lifestyle
• where you live
• medical treatment

But only if you cannot make decisions yourself.

Every state has its own Power of Guardianship:

• Enduring Power of Guardianship – New South Wales, Tasmania and Western Australia
• Appointing Medical Treatment Decision Maker – Victoria
• Enduring Power of Attorney – ACT and Queensland
• Advanced Care Directive – South Australia
• Advance Personal Plan – Northern Territory

An enduring guardian makes decisions about:

• where you live, whether permanently or temporarily
• who you will live with
• whether you work
• consent to medical & dental treatment
• protecting life or ‘flicking the switch when in a vegetable-like state’

Free storage and monitoring of your signed Will

Your original signed Will is valuable. Keep it safe and let your Executors know where it is stored. (You may wish to email a copy of your Will to the Executors.)

You can store a signed Will at home, at the bank or with the Executors.

Alternatively, you can store your signed Will at no cost with a law firm specialising in Will storage.

Your signed Will is monitored. When you die, the law firm holding your original Will uses its best endeavours to get the original Will into your executor’s hands. They also help and support your executors in administering the deceased estate and setting up the many trusts in your will. The storage of your Will is a free service.