Author: Steve Wildes

Living Estate Planning

Gifting Shares To Charity In Your Will

When preparing a Will, people often contemplate gifting money to charity, but have you ever thought about gifting shares after you pass away?

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Living Estate Planning

Estate Planning Steps Should You Be Getting Divorced

With 1 in 3 first marriages and 1 in 2 second marriages ending in divorce you just cannot afford to overlook your estate planning.  Divorce is not easy and it often forces you to invest significant amounts of time, money and stress.  

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Blog, Living Estate Planning

Do You Need An Advanced Care Plan?

This is effectively any type of written statement regarding a person’s wishes for their future medical or healthcare treatment.  Additionally it may formally appoint a person (decision-maker) who can act or speak on your behalf should you be unable to do so yourself due to illness or injury.

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Blog, Living Estate Planning

Who Can See Your Will After Death?

There is a broad class of people entitled to see a will once someone has died. The first step is to determine if someone fits within that group.

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Blog, Living Estate Planning

Ensuring Your Pets Are Cared For After You Die

Don’t let your beloved pets end up in a homeless shelter. Take action now to make sure that after your death, your pets will be safe and loved.

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Blog, Living Estate Planning

Have You Included Your Pets In Your Will?

Most people consider their pets to be a part of the family. In this case, a pet should be treated like so when you pass away. But, most Australians forget to include those with furry, hairy, feathered or scaled appearance in their will.

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Living Estate Planning

DIY Will Kits And Their Dangers

You want to prepare a will using a will kit. Does it matter? It’ll work, right? Why pay for one to be professionally prepared? My assets and structure is simple. In fact, maybe I can even do it while watching TV!   The truth is that will kit or home-made wills often create problems. Anecdotal […]

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Living Estate Planning

Death and Small Business CGT Concessions

They say that two things in life are inevitable – death and taxes. This doesn’t mean that the two have to happen at the same time. Generally where there is a change of ownership in small business, a CGT event is deemed to have occurred which may result in a capital loss or taxable gain. When a person dies, their assets are transferred to their legal personal representative (LPR) or are acquired by a surviving joint tenant, if one exists, and as such the Capital Gains Tax rules apply.

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Small Business Tax, Tax

The Small Business CGT Exemption After Death

Under capital gains tax laws, if your business has continuously owned an active asset (i.e. business asset) for 15 years, you’re aged 55 or over and are retiring or permanently incapacitated, you may be able to sell the asset including the goodwill and not pay Capital Gains Tax. There are a number of tests to satisfy, but if satisfied then it is quite possible that any capital gain would be tax free.

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Blog, Living Estate Planning

Estate Planning for Rental Property Investors

Good tax planning should involve the inclusion of a testamentary trust as part of the estate plan. There are some little known tax concessions which executors should be aware of when it comes to these trusts and your principle place of residence which I have explained below.

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Living Estate Planning

A new child means a new will

Having a baby means so many new decisions and responsibilities from choosing a name to registering for MCC membership. But inevitably issues such as Wills, superannuation, life insurance and trusts also need to be considered.

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Living Estate Planning

MEDICAL POWER OF ATTORNEY

Advanced care directives will take the place of medical POAs being legal documents that can include legally binding instructions as to future medical treatment we may want to consent to or refuse to have.

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