Can Family Trusts override the Family Court?

Family Trust v Family Court As tax lawyers, Legal Consolidated structures clients’ affairs to legally reduce tax burdens. We are also asked to: consider asset protection if you or your business goes bankrupt or insolvent draft 3-Generation Testamentary Trust...

Abandon a gift in a Will to keep the pension?

Abandon a gift in a Will to keep the pension? The Financial Planner carefully structures Mary’s affairs. Mary receives a $1 pension and a Concession Card. But then, Mary’s mother dies. Mum’s Will leaves everything to Mary. The inheritance costs Mary her $1 pension and...

Asset Protection strategies

Asset protection is a philosophy and way of life Asset protection is a lifetime pursuit. Asset protection is an ongoing journey. If you are truly ready to start the journey your life changes. Everything you do is tested against the best practice of asset protection....

The most tax effective Business Structures

I want to run a business. What is the best business structure? These are the building blocks of a business structure:  company – in trade in its own right company – as trustee of a family trust company – as trustee of a unit trust family trust...

Estate Planning Manual – avoid the 4 Australian Death Taxes

Every year, Australian taxpayers voluntarily pay the Tax Office millions of dollars in “Death Taxes”. Are you going to be one of them? Proper Estate Planning ensures that your estate goes to those you care about, and not the Tax Man. Does a “Simple Will” protect your...

Drafting Div 7A Loans – ATO’s 4 concerns

The ATO has just audited my new client’s Div 7A agreement. It did not go well. Many Div 7A Loan agreements are not ‘commercial’ and therefore not valid based on 4 common drafting errors: The Div 7A Loan must be signed as a ‘Deed’ not as an ‘agreement’....