This is a big question. The answer is going to depend on a range of factors, but there are some general rules you can apply.
What is the best way to hold an investment property?
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The legal issues you must consider before getting married…
Deciding to get married is a big emotional decision. But it’s also a massive legal and financial decision. Asset ownership, asset protection, super, life insurance, decision making, estate planning and family financial support, all need to be carefully considered to provide a solid legal foundation for a successful life together.
Lending to family members: How to avoid the pitfalls
So you want to help a family member under financial strain? What starts out with the best intentions can soon result is family disharmony. Confusion about whether the advance is a loan or gift can quickly result in argument. The tragedy is that this is so easy to avoid if you take some simple precautions from the outset.
Why is a partnership a bad structure for your business?
If you are carrying on a business through a partnership, then we strongly suggest you consider moving to a company. Find out why will hold this opinion.
Getting your estate planning up-to-date. Part 3: What happens if you’re incapacitated for a period of time?
If you are incapacitated for a period of time, things won’t stand still and wait for you to recover. Someone still needs to manage your legal and financial affairs, and others will need to make personal and healthcare decisions for you. Do you have the necessary documents in place to make this happen, and avoid the need for your loved ones to apply to the Government for help? If not, read this.
How to control a family trust when you die – our free downloadable Guide
Download our comprehensive guide to controlling your family trust.
Getting your estate planning up-to-date. Part 2: Who gets what?
In this article we cover the important questions you need to answer to put in place an effective Will, namely: why should you make a Will, who gets what, how do you fairly divide your assets if you are in a ‘blended family, and who you will need to involve in your estate plan? Time to act!
Getting your estate planning up-to-date. Part 1: Ownership of Assets
One of the reasons you accumulate assets and savings is to ensure your loved ones are adequately looked after when you die. Your accountant is likely to have put in place strategies to save you tax and protect your assets. But without proper planning, this can mean that your assets don’t end up in the hands of the people you intend. FInd out more.
Setting up a company in Australia
After deciding that a company suits your requirements as the entity through which to operate your business, follow these steps to get your company up and running.
Company Constitutions v Shareholders’ Agreements
When people go into business together it’s common for them to enter into a Shareholders’ Agreements to govern how they will own and administer their company. Our preference is to use a tailored version of the company’s ‘Constitution’ as the primary instrument to regulate the affairs of a company. Our reasons are:
Should you own your farmland in Super?
A common frustration experienced by primary producers is that they cannot use their super savings in their business. Not being able to access your retirement savings until you are 60 (generally) and retired, can feel like you are diverting capital away from where it is needed. One way around this issue is to own farmland in your Self-Managed Super Fund (SMSF).
Why you need to update your SMSF Deed
You need an SMSF Deed that keeps pace with legislative and common law changes. A lot of the sophisticated strategies are only possible if your SMSF Deed is up-to-date and written carefully.
Why you need a succession plan for your SMSF
The trustee of your SMSF is all-powerful. The trustee decides how much money you can put in the fund, who else can join, how your money is invested, how much gets paid out to you and when, and finally who gets what’s left over when you die. So how do you ensure the trustee of your fund continues to do the right thing when you can no longer be involved? There are a number of strategies you need to have in place
Avoid Surcharge Land Tax in NSW – Exclude Foreign Beneficiaries from Your Discretionary Trust
If you hold residential land in NSW in a discretionary trust, chances are you will be subject to surcharge land tax due to changes that take effect at midnight on 31 December 2019. We can help you avoid the surcharge.
Call 1300 654 590 and speak with a lawyer today
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