Guardians and Executors in your Will when your child is under 18

What is the difference between an executor and a guardian? Executor: In a Will, the ‘executor’ carries out the instructions in your Will.  The executor administers your estate. The executor sets up the appropriate trusts. Guardian: A guardian looks after...

Specific Gifts in Wills are dangerous and complex

  Should I put Specific Gifts in my Will? Your Will needs to be clear and legally enforceable. Specific gifts in a Will add complexity and tax issues. What are Specific Gifts in Wills? Specific Gifts are gifts of a particular item of property to a specific...

Courts keep saying Gift & Loan-Back schemes don’t work

Business owners, company directors, and professionals like dentists and engineers face financial risks due to their work and responsibilities. Their vulnerability to bankruptcy is heightened by exposure to liability, unpredictable market conditions, and the risks of...

Papua New Guinea’s Tax System for Australians

Navigating the Tax Landscape: A Guide to Understanding Papua New Guinea’s Tax System for Australians PNG tax system – an Australian perspective This guide aims to provide Australians with an in-depth understanding of the tax system in Papua New Guinea...

Changing the jurisdiction of a trust

An Australian trust exists under state law. So your trust may be under the laws of a state. E.g. New South Wales, Victoria, Northern Territory or any other state or territory. This is called the trust’s ‘jurisdiction’. Can you change the...

Amending a Testamentary Trust After the Will Maker Dies

  Amending a Testamentary Trust after the Will Maker Dies In Australia, the legality of altering a testamentary trust after the Will Maker’s death can be intricate. It’s essential for both Will Makers and potential beneficiaries to comprehend the...