The application of Australian Capital Gains Tax (CGT) and UK Inheritance Tax (IHT) can lead to an aggregate tax rate of 87% following the death of a loved one. Such a high tax rate should cause with clients who have lived in both jurisdictions to obtain specialist advice before they die to implement effective tax planning. (more…)
estate planning
Why Have a Will?
A will is one of the most critical documents that any person will complete in their lifetime. A will should never be regarded as a document set in stone. Changes in circumstances such as health, marriage, divorce, a new child or grandchild or the acquisition of valuable assets such as property may be reasons to have a new will prepared. (more…)
What happens to my super fund when I die?
Many people are unaware of what happens to their superannuation on death. Unlike other assets, the balance of your member account in your superannuation fund does not necessarily pass to the beneficiaries under your Will. (more…)
Should I purchase life insurance in my super fund?
Many superannuation providers offer the option of purchasing life insurance through your superannuation fund. Self-Managed Superannuation Funds are also able to purchase life insurance within the fund. However, many people do not fully understand the advantages and disadvantages of purchasing life cover through their superannuation fund.
This article explains the implications of holding life insurance policies within superannuation funds, so that you can make an informed decision. (more…)