Category: Estate Planning & Wealth Protection

5 Estate Planning mistakes you don’t want to make

It can be difficult to know where to start when it comes to implementing an effective estate plan that reflects your wishes and protects the interests of your loved ones. It is important that you…

Is it easy to obtain trust documents? Maybe so.

A general misconception is that if you are a beneficiary of a trust, you automatically have a right to trust information. A recent decision in the Supreme Court of Victoria Mantovani v Vanta Pty Ltd…

Court affirms fiduciary duties are not discretionary – Lessons for directors, trustees and professional advisors

In 2015/2016 it was recorded that there were nearly 850,000 trusts used in Australia holding more than $3 trillion worth of assets. But, how many people really understand trusts, and the obligations that go with…

Beneficiaries rights to Trust documents

A general misconception is that if you are a Beneficiary of a Trust, you automatically have a right to information about the Trust. However, this is not always the case. The historical approach – a…

The future of Testamentary Trusts for you, your children, and their children

Every estate planning conversation includes a discussion about Testamentary Trusts. They can assist with asset protection and management, and taxation efficiency. However, recent legislative changes in this space means Testamentary Trusts don’t have all of…

Have you considered your superannuation when reviewing your estate planning?

Despite superannuation funds often comprising significant assets, many are unaware that it is not automatically included as part of an estate’s assets and may not be distributed in accordance with a person’s Will. You can…

Electronic signing and witnessing of wills

The COVID-19 Omnibus (Emergency Measures) Bill 2020 passed in April 2020 foreshadowed the electronic signing of estate planning documents such as Wills and Powers of Attorney pursuant to regulations to be finalised. On 12 May…

Structuring for the future

The COVID-19 crisis is far from over. However, the gradual easing of lockdown restrictions now appears likely, so businesses can start to plan for the future and for the opportunities that it will hold. As…

Modern approach to guardianship and administration

The new Guardianship and Administration Act 2019 (the Act) passed through the Victorian parliament in May 2019 and received royal assent on 4 July 2019. It commenced on 1 March 2020. Under the new legislation,…

Important changes to Foreign Purchaser Additional Duty (FPAD)

Is your family trust purchasing residential property in Victoria? From 1 March 2020 changes to Victoria’s Foreign Purchaser Additional Duty (FPAD) will have far reaching implications. FPAD is an 8% duty payable in addition to…

Changes to your medical decision maker

There has been recent changes in Victoria concerning Enduring Powers of Attorney (Medical Treatment) (Medical EPA), which took effect on 12 March 2018. Some important matters to note are: Any existing Medical EPA’s in place…

Changes to executors’ responsibilities

Are you a beneficiary of a Will with a professional acting as executor? Or are you a professional acting as an executor? Many testators appoint professionals such as lawyers or accountants to be executors under…