Who owns my company at death? What happens when a director dies? At death, your shares in a company go into your Will. Your shares are part of your deceased assets. Your executor in your Will looks after the shares and the company. The executor does this in the...
Are funeral wishes in a Will legally binding? The funeral wishes in your Will are not legally binding. Your executor is not required to follow them. Do not clutter your Will with directions for your funeral and remains. Your Will has to take a journey. It goes to...
The ‘curse’ of the Homemade Will Master Sanderson, Rogers v Rogers Young [2016] WASC 208 stated: “On numerous occasions when dealing with so-called homemade wills, I have observed they are a curse. Homemade wills which utilise what is...
A ‘lost’ Will is not automatically a ‘revoked’ Will – lost vs revoked A Will is valid until the Will-maker intentionally revokes it. The Will-maker must be of sound mind to revoke a Will. A person holding a POA for the Will-makers cannot...
Capital Gains Tax on dead people’s jewellery – CGT death duty on a wedding ring Sometimes people put a Specific Gift in their Will. For example, ‘my wedding ring to my daughter’. The result? CGT death duty on that wedding ring. At death, your Will...
Why refusing an inheritance destroys Age Pension planning Take Mary as an example. Mary’s financial planner works hard to preserve her small Age Pension and the valuable Pensioner Concession Card. Mary’s mother dies and leaves the estate to Mary. Centrelink does not...
