Tag: Steve Wildes

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.

Read more
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.

Read more
Living Estate Planning

Same Sex Marriage – have you updated your will?

If couple have now been married or planning their marriage, then they also need to plan to update their wills to ensure they reflect the change in their circumstances.

Read more
Living Estate Planning

Asset Ownership – it pays to get it right!

When we buy property or other assets we generally give little or no thought to the legal ownership of that asset. Often we are swept away “in the moment” and don’t consider the various options or legal implications that may arise in the future. No thinks to ask the question, have I purchased in the correct legal structure? Is there a better way?

Read more
Living Estate Planning

Death and small business CGT concessions

When a person dies, their assets are transferred to their legal personal representative (LPR) or are acquired by a surviving joint tenant, where the deceased owned those assets as joint tenants with another person. As there is a change of ownership a capital gains tax (CGT) event arises. 

Read more
Living Estate Planning

Property Inheritance – CGT & Property Sales

In my previous article I mentioned that if you inherit a dwelling and later sell or otherwise dispose of it, you may be exempt from capital gains tax (CGT), depending on when the deceased acquired the property, when they died and whether the property has been used to produce income (such as rent).

Read more
Living Estate Planning

Property Inheritance – CGT Implications

Since the introduction of capital gains tax in September 1985 if you inherit a dwelling or other property and later sell or otherwise dispose of it, capital gains tax may apply to either the deceased estate or yourself as beneficiary.

Read more
Living Estate Planning

Deceased estate checklist

This checklist will help you manage the Australian tax affairs of someone who has died. If the deceased person's tax affairs included carrying on a business, you may need to seek further advice from Paris Financial otherwise these are the steps to follow when someone has died:

Read more
Living Estate Planning

Estate Planning & Land Tax

Deceased estates and Stamp duty – the transfer of property in accordance with the terms of a will or codicil is subject to stamp duty unless an exemption is available and section 42 of the Duties Act in Victoria exempts certain transfers of dutiable property where …

Read more
Living Estate Planning

Trusts & Estate Planning

A trust is a separate legal entity which holds assets, such as property or cash. and have a number of advantages, particularly from an asset protection perspective. They are very popular structures which are often set up by people during their lifetime.

Read more
Living Estate Planning

Family Trust Distributions to Children – THE IMPORTANCE OF PLANNING

Family trusts have many advantages, one of these being the ability to distribute business profits to your children. This is a popular strategy which can be used to reduce your overall tax liabilities at year end.

Read more
Living Estate Planning

When to lodge a date of death tax return?

As executor you need to lodge a date of death tax return on behalf of the deceased person if they:

Read more