Tax on superannuation
Inheriting superannuation can result in significant tax for adult children. However, strategic estate planning can reduce this burden. Methods include re-contribution strategies, withdrawing super before death, correct Binding Death Benefit Nominations, allocating super to dependents, and using Superannuation Proceeds Trusts. Murnane Legal collaborates with experts to ensure tax-effective solutions.
Why bother making a Will if it can be challenged anyway?
A Will ensures assets are distributed as intended, appoints trusted executors, and minimizes disputes. While challenges are possible, a well-drafted Will and legal strategies can reduce risks. Assets in trusts, companies, or joint ownership may be protected. Proper estate planning safeguards your wishes.
Eligibility to challenge a Will in Victoria.
In Victoria, spouses, children, stepchildren, grandchildren, and financial dependents can challenge a will under the Administration and Probate Act 1958 (Vic) if they were not adequately provided for. Former spouses receiving maintenance may also have a claim.
What is a Testamentary Trust Will? Should I get one?
Testamentary Trust Wills are quickly becoming one of my most popular Will requests. A Testamentary Trust is a trust established under a valid Will after the Will maker has died. In a nutshell, here are a few of the benefits of investing in a Testamentary Trust Will.
Do Godparents Have Any Legal Rights?
The role of a Godparent is only for ceremonial or religious purposes. A Godparent does not automatically have any guardianship rights if the parents of their Godchild die.
What is a Testamentary Trust Will? Should I get one?
A Testamentary Trust can protect your assets, even after they are inherited by your children
3 things you cannot do if you die without a Will
When you choose to die without a Will, you are in affect leaving it to the state government to write your Will for you.
You are forfeiting your rights after you die to have any say in who will make decisions of what will happen with your minor children, who will care for your pets and if a charity will receive anything from your Estate.