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Estate Planning

Deceased estate checklist

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:

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( Posted in: Living Estate Planning )

Estate Planning & Land Tax

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 ...

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( Posted in: Living Estate Planning )

Trusts & 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.

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( Posted in: Living Estate Planning )

Family Trust Distributions to Children THE IMPORTANCE OF 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.

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( Posted in: Living Estate Planning )

Does your de facto have a claim against your will?

Does your de facto have a claim against your will?

When we think about estate planning we often believe that if we have prepared a will then we have done enough, or at the very least we have done something!

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( Posted in: Living Estate Planning )

No tax on death: fact or fiction?

No tax on death: fact or fiction?

Death itself does not create a tax liability, however what happens to the assets after you die could result in a tax bill. Creating a will or becoming a beneficiary of one may appear to be more straight than you thought, but the reality is the tax man could take a large bite out of your estate or inheritance.

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( Posted in: Living Estate Planning )

Estate Planning: Making sure your money goes where you want it to

Estate Planning:  Making sure your money goes where you want it to

Estate planning is not just about making a will. It’s about deciding how you want to be looked after (both medically and financially) if you can’t make your own decisions later in life. It’s also about documenting how you want your assets to be distributed after you die

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Do you have your Estate Planning up-to-date?

Do you have your Estate Planning up-to-date?

Long gone are the days of preparing a will and locking it away in the safe or bottom drawer! Whether it be at the completion of this years’ tax return, or when you change the batteries in the smoke detector, every year you should dust off your estate plan and update it for the inevitable changes that most likely will be needed.

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( Posted in: Living Estate Planning )