It is well understood by savvy property investors that holding investment properties in a trust can offer the benefits of asset protection, estate planning and tax efficiency. The next question is whether these benefits extend to the family home. In other words, is it worth holding your family home in a trust?
Put simply, once an individual has aggregate land holdings of $2.5 million, they will benefit from using discretionary trusts in their structuring strategy.
It is nice to imagine that your family will continue to enjoy your holiday home after you have gone so, how can you make sure this is a reality?
If the executor of a Will has died, lost capacity or is unwilling to act, what steps can you take to get the administration of the estate moving?
The resources on the internet are often fantastic but they are not fool proof. If you are considering using a Will template downloaded from an unknown document provider, think twice and then call us.
In all states and territories of Australia, stepchildren either have an explicit or conditional right to challenge their stepparent’s Will. If you think there is a risk that your stepchild(ren) may make a family provision claim, this blog will answer some of your questions.
Advocating for diversity makes sense for a minority view trying to get a foothold or survive in a sea of opposition. Diversity and tolerance protect the little guy. But once a foothold is established for our idea, we tend to become a lot less tolerant and accepting of true diversity of opinion on the issue.