Case Study: The Inspiration Behind the Legal Service Quote Checker
Background: The CEO of MDL, Shane, was approached by a friend during his weekly tennis fixtures who mentioned he had received a quote ranging from $23k to $33k for a Binding Financial Agreement review. Based on his experience, Shane found these figures to be on the extreme high end and decided to investigate it further. […]
Understanding Executor’s Commission in Queensland: A Guide for Clients
By Aaron Harris As an executor, navigating the administration of a deceased loved one’s estate may appear daunting. Executorship imposes a myriad of responsibilities on an individual, with most being unaware of what the role entails, the duties involved, and whether they may be entitled to compensation for their time. The purpose of this article […]
The easy way to ensure your assets are distributed according to your wishes – A case study
by Bruce Sargent It is important that your Will complies with the legal requirements, ensuring that it is fair and valid. This is the easiest way to ensure that your assets are distributed according to your wishes. Legal proceedings to settle disputes caused by an unfair or invalid Will make an already difficult time for […]
Pre June 30 warning for family trusts – ATO to increase scrutiny of trust income distributions
The ATO has released Taxpayer Alert (TA 2022/1) foreshadowing a crackdown on trust income distributions within family groups as part of its focus on tax avoidance schemes. Taxpayers and their advisors should review current distribution arrangements to avoid potential ATO compliance activity. By: Leon La, Associate, Geoff Cameron, Senior Associate, Alexander Strange, Special Counsel What […]
The Importance of Estate Planning for SMSFs
The Importance of Estate Planning for Self-Managed Superannuation Funds by Geoff Cameron geoffc@mdl.com.au Self-managed superannuation funds (SMSFs) have become increasingly popular as a method for managing wealth to be used in retirement. A key reason for the popularity of SMSFs is that they can offer a greater degree of choice and control over your superannuation […]
Your Estate Plan – Don’t forget the Enduring Power of Attorney!
Having a comprehensive, up-to-date estate plan in place is crucial to ensuring that you and your loved ones are looked after and provided for in the event of your incapacity or death. Failure to implement a comprehensive estate plan, or to review and update your estate plan as circumstances change, can have serious consequences for […]
SUCCESSION PLANNING – MORE THAN JUST A WILL
Succession planning (also commonly known as estate planning) is not just about the making a Will, it involves many different aspects including planning for incapacity and having an up to date enduring power of attorney. From when a person starts to lose capacity, to when they no longer have capacity for decisions, is often a […]
Virtual AGM’s & Electronic execution and witnessing of documents during Covid 19
The government has passed the Justice Legislation (Covid-19 Emergency Response – Documents and Oaths) Regulation 2020 which allows documents to be temporarily witnessed by a Special Witness (being an Australian Legal Practitioner) to witness documents such as Affidavits, Declarations and Deeds etc by Audio Visual link. The Regulation is set to end on 31 December […]
What is a Testamentary Discretion Trust (“TDT”)? Do I need one?
A TDT is a trust which is set up under your will on your death. A TDT allows your estate assets to be held in trust (or trusts) for your nominated beneficiary/ies. It provides a structure to manage and distribute your estate assets. Who are the parties involved in a TDT? The TDT has four […]
Estate Planning | Why is it important during COVID-19?
Want to update your Will but concerned about social distancing? See below for our Low to Zero contact options. In recent weeks we have seen a significant uplift in clients updating their Wills & Enduring Powers of Attorney, and new clients getting an Estate Plan for the first time, but WHY? There are two very […]
