Are you about to pay off your SMSF ‘limited recourse borrowing’ loan?
If you are about to pay off your limited recourse borrowing loan (or have recently done so), you are probably wondering what to do next. You might want to simplify your super fund investments and wind up the custodian trust. Or you might be planning your next property...
What happens when someone leaves a partnership?
There are many misconceptions about what happens when someone gives notice to leave a partnership. Often, the other partners want to ‘continue’ the partnership, and they will immediately begin to treat the departing partner as an ‘outsider’. While this may feel...
Yes, you do need a testamentary trust
Most people who advise on testamentary trusts talk about the ‘tax benefits’. This emphasis is plain wrong. Why? Because, a simple Will (without a testamentary trust) is more likely to do harm, and to lead to family disharmony, than one with a testamentary trust.
What happens to a gift in your Will if you no longer own the asset when you die?
A gift of property that is no longer in your estate when you die automatically ‘fails’ (or ‘adeems’). This rule can lead to unfairness and unintended consequences.
Why do all doctors have a trust?
Doctors earn their money by ‘doing things’. Performing surgery, diagnosing an illness. This is great from a ‘personal fulfilment’ perspective, but not so great from a ‘personal tax’ perspective.
Are trusts a ‘tax loophole’ exploited by the wealthy?
People who say this are just demonstrating their ignorance. Here’s why. The ability to use a trust as a ‘tax loophole’ was pretty much closed out in the 1970-80s. To suggest that trusts somehow make tax disappear for the ‘wealthy’ is plain silly.
Pssst, over here! (You need to read this if your business turns over more than $3 million)
We’ve all heard about the increasing prevalence of data ‘breaches’ and ‘hackings’. Some well-publicised examples include: The hacking of Microsoft’s Business Productivity Online Suite in 2010; The theft and publication of 6 million user passwords from LinkedIn in...
Kasia Maczuga
You have significant wealth to pass on to the next generation. You want to involve other family members in your wealth management and decision-making processes, but you don’t know how. As with all family enterprises, your legal issues are multi-faceted and need to...
Catherine Fairlie
Catherine assists families and businesses in a range of areas, including estate planning, commercial agreements, family disputes and setting up entities.