Pitfalls in Superannuation and Estate Planning – Your Super payout may not go to your intended beneficiary

A number of recent decisions have highlighted the dangers of superannuation trust fund and death benefits not being paid out in accordance with the deceased’s wishes or intentions, and potentially leaving family members without benefits or support. This is particularly the case with Self-Managed Super Fund (“SMSF”) arrangements where particular attention has not been paid …

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Duties of Trustees – Liabilities and Risks: Don’t Leave Yourself Exposed

The duties of trustees are many and varied and require due care and skill. To a large degree, these duties determine the liabilities of trustees and the possible personal exposure of trustees to legal costs. Trustees can usually expect to be indemnified for any legal costs but not if a duty of care is breached. …

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CAN YOU MAKE A WILL ON VIDEO? FORMALITIES – MAKING A WILL IN AUSTRALIA

Basically, a Will is not valid unless it is in writing, signed by the Testator in the presence of at least two witnesses present at the same time, and who attest and sign the Will in the presence of the Testator. Other problems or issues may invalidate a Will, but this is fundamental to a …

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WHO GETS YOUR ESTATE? – PERHAPS NOT WHO YOU THINK, DON’T LEAVE IT TO CHANCE

The primary issue in estate planning is ensuring that your wishes are carried out on your death. It is your property and you should be free to choose to whom it will be transferred on your death, right? Simply put you make a valid will specifying your wishes and appoint a person to carry this …

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