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Gifting To Charities In Your Will

July 4, 2023

It is quite common for individuals to gift an amount from their estate, or even a percentage of their estate to a charity of their choice. When including a charity as a beneficiary in your Will, it is very important to get the wording right to ensure the gift is successful on your death. When … Read more

What is a Discretionary Testamentary Trust (DTT)?

January 31, 2023

In essence, a DTT is a structure that can be put in your Will that can save your beneficiaries from paying unnecessary tax, and may offer other protections to your beneficiaries as well. Under a Will with no DTT, everything passes directly to your beneficiary – let’s say your spouse. In simplistic terms, your spouse … Read more

Foreign Beneficiaries and the FIRB

December 2, 2022

There used to be an exemption for property acquired under a Will. That changed in January 2021 when that exemption was removed. A beneficiary of Australian property under a Will who is not ordinarily resident in Australia (which includes both foreign citizens and Australian citizens residing overseas) is now required to obtain approval from the … Read more

Transfer of Property on Death

May 30, 2022

Ever wonder what happens to your property when you die? Well, it all depends on how the property was owned during your lifetime. If you currently own property as joint proprietors with another person, this property will go to the surviving proprietor on the death of one.  When this happens, we would complete an Application … Read more

What happens after Probate?

May 30, 2022

Once it has been determined that a Grant of Representation is required and it has been obtained, it is now time to deal with the assets of the estate. The first step is for the executors to decide what to do with each asset. Any assets that have been specifically gifted to a beneficiary will … Read more

Who should I name as my Superannuation beneficiary?

November 17, 2021

Generally, your superannuation does not form part of your estate and is not distributed under your Will. If you do not have a binding death nomination in place upon your death the trustee of the super fund will make a determination as to who to pay a death benefit to, this determination will be in … Read more

Looking After Vulnerable Beneficiaries – Protective Trusts

September 21, 2021

Whilst there are several options for these beneficiaries depending on your circumstances, one of the most common is to include a Protective Trust in your Will. A Protective Trust is basically having someone else look after your adult child’s money on their behalf- this person is called the Trustee. The Trustee receives the money from … Read more

What happens if you die without a Will? Intestacy Laws in Victoria

March 5, 2018

Should a person die without a valid Will an “intestacy” arises. This means that the deceased’s estate would be distributed as per rules set out in legislation. Some of the downfalls of intestacy include not having control over who benefits from your estate, who administers your estate or who is appointed the guardian of your … Read more