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...
[smartslider3 slider=2] CGT Family Home – that does not seem fair Death and Probate Duties were abolished by 1981. However, in 1985 the Federal Government introduced Capital Gains Tax. CGT earns the Government more money on deceased estates in a single...
Parent dies leaving children under 18 – use of Post-Death Testamentary Trust In a perfect world, you build a 3-Generation Testamentary Trust in your Will. When you die, your Estate is tax-free for 80 years. A 3-Generation Testamentary Trust washes out the...
Court rewrites Will to save tax – a novel remedy for crazy people Each of the States and Territories allow the making, revoking and varying of a Will. But only if you lack testamentary capacity: South Australia: section 7 Wills Act 1936 (SA) ACT: section 16A...
Joint tenancy is old fashioned and dangerous Joint Tenancy vs Tenants in Common Tenants in common: each owner holds their discrete share of the asset outright. It can be 20% and 80%. Or can be 50% and 50%. Or is can be 34%, 6% and 60%. But it must equal 100%. When a...
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