Cryptocurrency in a Legal Consolidated SMSF deed

Legal Consolidated’s SMSF Deed, SMSF Deed updates and Investment Strategies are drafted to comply with the: Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act); Superannuation Industry (Supervision) Regulations 1994 (Cth) (SIS Regs).   Legal...

Hotchpot Clauses vs Equalisation clauses in Wills

  Dangers of a Hotchpot Clause in a Will – Re CosierDeceased Estate Equalisation in Wills are bad We want to treat our children equally. In our Wills, we put in an Equalisation clause. Or we put a Hotchpot clause in our Will. But neither an Equalisation...

Marriage, Divorce and Defacto revoking Wills

Getting married, divorced or defactos – does it affect your Will? Usually, marriage revokes your Will. Marriage cancels, nullifies and destroys your current Will. Therefore, if you die as you leave the church you die without a valid Will. You are intestate. In...

Can a POA act for a trustee?

  Can a Trustee delegate its authority? Can a POA act on the trustee’s behalf? A human Trustee can not outsource the job of being a trustee to another person. Even if that other human holds a Power of Attorney for the Trustee. The position is different for a...

Bankruptcy Trust in Wills

Bankruptcy Trust in Wills Bankruptcy Trusts in Wills to protect spouses, children & beneficiaries The Bankruptcy Trust protects your beneficiaries if they go bankrupt before or after your death. When you die you give your assets to your spouse and children. But...

Financial Planners witnessing POAs prepared by Legal Consolidated

  Since 2018, thanks to significant advocacy efforts by the Financial Advice Association Australia and Legal Consolidated, financial planners have been empowered to act as authorised witnesses for Commonwealth statutory declarations and Powers of Attorney (POAs)...

Journal Entries are not legal documents. Book entries do not work.

Journal entries and Book entries do not work: ATO Commonly Dad borrows money cheaper than his trust. In this recent case, Dad borrows money from the CBA and gives it to his trust. Everything goes wrong. In Chadbourne v FCT [2020] AATA 2441: the taxpayer, Mr...

NSW Stamp duty to change a Trustee

Change a trust’s trustee to a corporate trustee in New South Wales? At times, you may wish to change the trustee of your New South Wales trust. Perhaps the trustee dies, leaves the country or loses mental capacity. Or you want to move from a human to a company as a...