Gone are the days of the white picket fence, the high school sweethearts together forever and the 2.4 kids. Nowadays families are more complicated and consequently, so is Estate planning. Most blended families that I meet have the same goals… “protect my kids and make sure they get my Estate”. Even though the most carefully …
If you are buying or selling Australian real estate after 1 July 2016 with a market value of $2 million or more, you will, unless an exemption applies, be subject to the application of the Foreign Resident Capital Gains Tax Withholding Regime. The purpose of such regime is to ensure that foreign residents who dispose …
ATO Clearance trap for over $2 million property transactions Read More »
We are seeing an increase in the number of people over 50 years of age who are electing to sell their residence and move into a Manufactured Home Park or Retirement Village. Manufactured Homes can be found in Residential Parks that are purpose built, made up exclusively of Manufactured Homes or in a mixed used …
Manufactured Homes – what should I look out for? Read More »
When a person wishes to change an existing Will, there is often a temptation, rather than preparing a whole new Will, to simply amend the existing, most recent Will by a Codicil. However, unless the change to the existing Will is of the most minor nature and the Codicil is being prepared by a Lawyer …
It is a common misconception that when you die, your hard earned and treasured Superannuation savings contained in your Superannuation Members account form part of your Estate and will be distributed to the beneficiaries nominated in your Will. However, that is not necessarily so. In a nutshell, unless the Superannuation Fund prohibits it, you can …
The recent judgment of the Court in Munro and Anor (2015) QSC 61 is a timely reminder to Lawyers, Accountants and others involved in the preparation of Superannuation Binding Death Benefit Nominations, Directives and Agreements, to ensure that the proposed beneficiaries of a deceased’s Superannuation Member’s Death Benefit are correctly and precisely specified in accordance …
Superannuation Death Benefit Nominations – Get it right or else! Read More »
When a Resident leaves a Retirement Village, the Resident must give a termination notice to the Scheme Operator. Before a Resident can resell their Right to Reside, the Unit must be reinstated to a “marketable condition” and an agreement reached with the Operator on the resale value of the Unit. If the resident has a …
What will it cost when I leave a Retirement Village? Read More »
The most common forms of Rental Review provisions in Commercial Leases normally provide for annual rental increases during the lease term and for Market Rental Reviews at the commencement of an extended term. Annual Rental Increases during Lease Term Annual rental increases during the term of a lease are normally calculated by a fixed percentage …
If you have been appointed as an Attorney for another person (“the Principal”), great care must be taken by you in relation to the decision that you make on behalf of that person. As well as acting honestly and with care, you must treat the decisions on behalf of another person confidentially and avoid entering …
