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Estate Planning

How seriously do you take estate planning?

How seriously do you take estate planning?

Living a financially organised life inevitably also means preparing for a financially organised death.

Having a sound estate plan in place is more than just writing a Will, and is definitely not something that should be left until the last minute. Developing a strategic estate plan is essential when you are planning for retirement. So, where do you start?

What do you think would happen if......?

What do you think would happen if......?

It’s a sad fact that life does not always go to plan. While we logically know that, most of us don’t plan for the worst - it’s all a bit morbid and time consuming.

The downside of not planning is the potential for hard earned assets to be squandered, family fall-outs, and money handed to the Government that could have been distributed in accord with your wishes. If you are a business owner, then the stakes are even higher.

Bad Deeds: Is your SMSF at risk?

Bad Deeds: Is your SMSF at risk?

Your SMSF’s trust deed is its rulebook. If the deed does not allow or recognise something then the trustees can’t do it. Despite this, a lot of trustees are unaware of what their trust deed says – it was just something that was required when the fund was established. The problem with any document is that unless you amend it, it is only current for the circumstances that existed at that time. However, the law changes regularly and so do individual circumstances. 

This month, we shortcut the review process and highlight the key SMSF trust deed problem areas.