Category: Private Wealth

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…

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…

Private lending leads the way for property

Whilst there is so much of this Covid-19 pandemic that we have never seen before, what we have seen before is how markets react when economic conditions change suddenly. And how opportunities are created. Right…

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…

Shareholder oppression

Are you a minority shareholder? Do you know your rights? Sometimes disputes arise between people who have a financial interest in a company. In privately held companies, people who own a small shareholding (a minority…

How important are trade marks to your business?

Have you considered how important your trade marks are to your business? Registering your trade marks has many benefits, from protecting your brand, making it easier to deal with infringing goods and services, and adding…

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…

Black economy

As part of its recent budget announcements, the Federal government has noted that the black economy is a growing social and economic problem, and announced a proposal to introduce new measures to reduce tax evasion…

Is your business or industry impacted by parallel imports?

The laws around parallel imports are currently before Parliament for consideration and are likely to change. What is a parallel import? A parallel import is a genuine branded product (not a counterfeit), which has been…

Estate planning and cryptocurrency

Cryptocurrency, such as Bitcoin and Ethereum, is becoming a lucrative asset. As the value of some cryptocurrency keeps skyrocketing, this creates a number of issues, especially with your estate planning. What do you need to…