Estate Planning Wills, Probate, Testamentary trusts Thu, 28 Feb 2019 10:26:02 +0000 Thu, 28 Feb 2019 10:26:02 +0000 InvestChat https://www.investchat.com.au/community/forums/estate-planning.25/ Estate planning & investment properties Wed, 26 Nov 2014 13:10:17 +0000 https://www.investchat.com.au/community/threads/estate-planning-investment-properties.9188/ https://www.investchat.com.au/community/threads/estate-planning-investment-properties.9188/ invalid@example.com (Shino) Shino I'm after some advice on estate planning with regard to our investment properties.
We have 3 properties in both our names as Joint tenants, no problem there.
We have 4 properties in my husbands name only as he is the highest wage earner. However my name is on 2 of the loans. I have only realised that in the even that my husband dies these properties would go into his estate (which I would be the sole beneficiary) and the rental income would go into his estate as well. However as...

Estate planning & investment properties]]> 4 Transfer of title to sibling of inherited property Sun, 22 Jun 2014 22:09:01 +0000 https://www.investchat.com.au/community/threads/transfer-of-title-to-sibling-of-inherited-property.9104/ https://www.investchat.com.au/community/threads/transfer-of-title-to-sibling-of-inherited-property.9104/ invalid@example.com (Lyndunc) Lyndunc
Transfer of title to sibling of inherited property]]> 3 Future Planning - Family Trust Sat, 12 Apr 2014 01:38:47 +0000 https://www.investchat.com.au/community/threads/future-planning-family-trust.8910/ https://www.investchat.com.au/community/threads/future-planning-family-trust.8910/ invalid@example.com (StillLearning) StillLearning
We are looking to sell the property for a number of reasons, and are starting to think about the best ways to manage the proceeds of the sale. Once we take out taxes, stamp duty etc our estimated amount left over is pretty close to the amount we have left owing on our PPOR.

Considering we...

Future Planning - Family Trust]]> 4 Capital Gains tax on deferred payment of inheritance Tue, 25 Feb 2014 00:52:46 +0000 https://www.investchat.com.au/community/threads/capital-gains-tax-on-deferred-payment-of-inheritance.9037/ https://www.investchat.com.au/community/threads/capital-gains-tax-on-deferred-payment-of-inheritance.9037/ invalid@example.com (choppies) choppies
Capital Gains tax on deferred payment of inheritance]]> 1 Executor transfer title to non-beneficiary? Wed, 11 Sep 2013 23:57:14 +0000 https://www.investchat.com.au/community/threads/executor-transfer-title-to-non-beneficiary.8903/ https://www.investchat.com.au/community/threads/executor-transfer-title-to-non-beneficiary.8903/ invalid@example.com (manic) manic
We have obtained a grant of probate and would like to now transfer the estate. As the executor, can my father transfer it directly to myself and avoid stamp duty or does it have to go to in my dads name (without SD) and then I buy it off him and pay stamp duty?]]> 5 Property Investment & Trusts Sat, 05 Jan 2013 15:55:27 +0000 https://www.investchat.com.au/community/threads/property-investment-trusts.8123/ https://www.investchat.com.au/community/threads/property-investment-trusts.8123/ invalid@example.com (smudge01) smudge01
I'm interested in views on why I would need (or why its advisable) to use a trust. So far the only real beneficiary seems to be the accountant ;)

I have no dependents and have no intent on leaving "an estate" to anyone.

Any pointers most welcome.]]> 4 Testamentary Trust Wed, 20 Jun 2012 09:56:58 +0000 https://www.investchat.com.au/community/threads/testamentary-trust.7809/ https://www.investchat.com.au/community/threads/testamentary-trust.7809/ invalid@example.com (karla_ver) karla_ver Scernario regarding Mr Xs will.
Mr X owns 2 residential properties in Vic, great land value, not so great rental value, and $200k in bank. Mr X has one child only, no wife, no siblings. Mr X wishes to leave his entire estate to his daughter, Mrs Y. Mrs Y is married, and has 3 small kids. As Mrs Y is sole heir of Mr Xs estate, Mr X has capacity and is happy to comply with Mrs Ys wishes in the will, so long as Mrs Y is in complete control of estate and that grandchildren or others...

Testamentary Trust]]> 2 In-law's will Wed, 13 Jun 2012 23:26:34 +0000 https://www.investchat.com.au/community/threads/in-laws-will.8423/ https://www.investchat.com.au/community/threads/in-laws-will.8423/ invalid@example.com (DaveO) DaveO
Given the spirit of the will (and previous discussions with their father), the girls felt Jill should get another property...

In-law's will]]> 3 help - Trust fund stuff etc for newbies.. Wed, 02 May 2012 10:12:41 +0000 https://www.investchat.com.au/community/threads/help-trust-fund-stuff-etc-for-newbies.7498/ https://www.investchat.com.au/community/threads/help-trust-fund-stuff-etc-for-newbies.7498/ invalid@example.com (jellybean) jellybean
I am looking to start up a discussion and hopefully get some help at the same time.

Yes, I am aware that I should speak to a lawyer and of course an accountant (more about this later).


I have been reading whatever I can get my hands on (via websearching, forums, books-books and more books). But I am now so confused and worried that if I don't get the right help now - it's going to be too late and far too expensive to sort out any mistakes I might make...

help - Trust fund stuff etc for newbies..]]> 10 Family trust and Will- Who is to become the appointer/s? Sat, 24 Mar 2012 01:18:04 +0000 https://www.investchat.com.au/community/threads/family-trust-and-will-who-is-to-become-the-appointer-s.7725/ https://www.investchat.com.au/community/threads/family-trust-and-will-who-is-to-become-the-appointer-s.7725/ invalid@example.com (ishtvan051) ishtvan051
Family trust and Will- Who is to become the appointer/s?]]> 1 Super: who gets it? Sun, 10 Jul 2011 11:05:40 +0000 https://www.investchat.com.au/community/threads/super-who-gets-it.7742/ https://www.investchat.com.au/community/threads/super-who-gets-it.7742/ invalid@example.com (Simon Hampel) Simon Hampel Super: who gets it?

Super: who gets it?]]> 1 Wills with trusts Tue, 28 Jun 2011 03:39:34 +0000 https://www.investchat.com.au/community/threads/wills-with-trusts.683/ https://www.investchat.com.au/community/threads/wills-with-trusts.683/ invalid@example.com (johnnyb) johnnyb
I am in the process of sorting out our personal wills, but most of the assests we control (apart from our PPOR) are in trusts. We have a discretionary trust with an IP and shares, and a HDT with an IP at the moment.

As we don't own the assets in the trusts my understanding is that there is no place in our personal wills for dealing with these assets. How then do we have a say over what happens to these assets if we kick the bucket? I assume as trustee we need to put in place some...

Wills with trusts]]> 13 Changing name of beneficiary of a deceased estate from an individual to a trust Sun, 12 Jun 2011 11:00:02 +0000 https://www.investchat.com.au/community/threads/changing-name-of-beneficiary-of-a-deceased-estate-from-an-individual-to-a-trust.7672/ https://www.investchat.com.au/community/threads/changing-name-of-beneficiary-of-a-deceased-estate-from-an-individual-to-a-trust.7672/ invalid@example.com (Occasional Visitor) Occasional Visitor
Is it possible for the shares to be transferred direct to my family trust;...

Changing name of beneficiary of a deceased estate from an individual to a trust]]> 1 Estate Planning Queries Thu, 02 Jun 2011 10:00:46 +0000 https://www.investchat.com.au/community/threads/estate-planning-queries.7592/ https://www.investchat.com.au/community/threads/estate-planning-queries.7592/ invalid@example.com (Lloyd Harris) Lloyd Harris
Would appreciate an opinion on the following. I am try to assist some clients in understanding their current situation, and in turn to seek professional Estate Planning advice from an appropriately qualified specialist.

Scenario:

• Client 1 is widowed with three adult children, and has now met new partner (Client 2) who also has three adult children.

• Together, they have purchased a new principal residence and business (Joint tenants). Client 1 used the family house...

Estate Planning Queries]]> 3 Contested Wills Sun, 27 Feb 2011 03:08:00 +0000 https://www.investchat.com.au/community/threads/contested-wills.3658/ https://www.investchat.com.au/community/threads/contested-wills.3658/ invalid@example.com (The Stig) The Stig
If you think there is any chance of having your will contested, make sure your solicitor knows the Family Provisions act inside out and back to front.

I lost $530k inheritance yesterday.

My barrister said, if there is any chance your will will get contested, make sure you give what you want away 5 years before you die.

The Discretionary trust that Dad had some investments in was not touched. So they are pretty safe.

Cheers
The Stig.]]> 15 Trust and will Sat, 26 Feb 2011 13:16:30 +0000 https://www.investchat.com.au/community/threads/trust-and-will.3099/ https://www.investchat.com.au/community/threads/trust-and-will.3099/ invalid@example.com (salsa) salsa
With Trusts that have a company trustee where I am a director, in my will I would say I appoint say Mr XXX to be the director if i want to pass it on to my son Mr XXX ?

With HDT Trust that have my personal name as trustee and my partner as the appointor, and both of us buy income units from the HDT,
what should Ii say in my will if I want to pass it on to our son Mr XXX , for him to be the trustee and also to be the...

Trust and will]]> 6 Set-up Disc Trust for non-existent people? Sat, 26 Feb 2011 12:58:48 +0000 https://www.investchat.com.au/community/threads/set-up-disc-trust-for-non-existent-people.3750/ https://www.investchat.com.au/community/threads/set-up-disc-trust-for-non-existent-people.3750/ invalid@example.com (Insan3) Insan3
ie:

Jack and Jill writing their wills.
One child, Melissa.
Melissa has 0 children.
Jack and Jill want to leave Shares to Melissa's children, when/if she has them.

Thanks for your help guys!]]> 5 Problems with Trust Structure Sat, 26 Feb 2011 12:52:12 +0000 https://www.investchat.com.au/community/threads/problems-with-trust-structure.2124/ https://www.investchat.com.au/community/threads/problems-with-trust-structure.2124/ invalid@example.com (seaview) seaview
Am researching structures to invest in managed funds/shares and now have reservations about using HDT.

In particular, the 80 year life of a trust really hampers our plans to leave a large lasting legacy for future generations. I hope I am wrong, but it seems we would spend 40 years building up a big family fortune, then hopefully our children would spend another 40 years adding to it, only to have the whole thing wound up or rolled over into a new structure at the 80 year...

Problems with Trust Structure]]> 7 Wills, Power of Attorney and Testamentary Trusts Sat, 26 Feb 2011 12:44:49 +0000 https://www.investchat.com.au/community/threads/wills-power-of-attorney-and-testamentary-trusts.2451/ https://www.investchat.com.au/community/threads/wills-power-of-attorney-and-testamentary-trusts.2451/ invalid@example.com (Triu) Triu
thanks]]> 18 Dying is an expensive business Sat, 26 Feb 2011 12:40:22 +0000 https://www.investchat.com.au/community/threads/dying-is-an-expensive-business.4372/ https://www.investchat.com.au/community/threads/dying-is-an-expensive-business.4372/ invalid@example.com (TryHard) TryHard
As an only child, I took Mum with me to get the arrangements done while we were both still in that initial state of shock. I got a lot more shocked by the time we'd finished !

Dad had the foresight to invest in a "Basic Direct Committal" - he was a very spiritual but not-at-all religious...

Dying is an expensive business]]> 15 How do we preserve my deceased father's estate when my mother remarries? Sat, 26 Feb 2011 12:28:46 +0000 https://www.investchat.com.au/community/threads/how-do-we-preserve-my-deceased-fathers-estate-when-my-mother-remarries.6113/ https://www.investchat.com.au/community/threads/how-do-we-preserve-my-deceased-fathers-estate-when-my-mother-remarries.6113/ invalid@example.com (ammeygadley) ammeygadley
I found this question here
How do we preserve my deceased fathers estate when...

How do we preserve my deceased father's estate when my mother remarries?]]> 6 If I die - how will will work? Sat, 26 Feb 2011 12:24:01 +0000 https://www.investchat.com.au/community/threads/if-i-die-how-will-will-work.4714/ https://www.investchat.com.au/community/threads/if-i-die-how-will-will-work.4714/ invalid@example.com (Punter) Punter
Now that I have made some money and have some IPs, "will" is my next concern. I woke up last week when I heard about a classmate of mine who got killed in a car accident.

I have been thinking about will for the last five years and did some research. I find that the cheapest form of will is a form I bought in a news agency. Just fill in, and get two witnesses to sing .. thats all. When I went to my friend to obtain his signature as witness he said I must go to Public Trust for will....

If I die - how will will work?]]> 7 $700k Superannuation death benefit – can this stay in super? Tue, 08 Feb 2011 11:00:53 +0000 https://www.investchat.com.au/community/threads/700k-superannuation-death-benefit-can-this-stay-in-super.7395/ https://www.investchat.com.au/community/threads/700k-superannuation-death-benefit-can-this-stay-in-super.7395/ invalid@example.com (K_veg) K_veg
I assumed that the $735k could stay in super, and that it would be rolled over to my mum’s account. But the super fund has told me that the balance has to be paid out to my mum as a lump sum. Is this...

$700k Superannuation death benefit – can this stay in super?]]> 5 Pension-aged Beneficiary of TT Wed, 30 Sep 2009 10:22:44 +0000 https://www.investchat.com.au/community/threads/pension-aged-beneficiary-of-tt.6088/ https://www.investchat.com.au/community/threads/pension-aged-beneficiary-of-tt.6088/ invalid@example.com (RobertHolmes) RobertHolmes
My mother is named as an appointor, trustee and beneficiary of two Testamentary Trusts created by my father's will. The principal beneficiaries of Trust 1 are named as me & my lineal descendants; and Trust 2, my sister & her lineal descendants.

A clause in the trust deed gives the trustee "discretions as to income & as to corpus....[and] have regard to...Social Security entitlements of a beneficiary..."

My question is, is this clause sufficient to prevent Centrelink...

Pension-aged Beneficiary of TT]]> 2 The in-laws will Tue, 30 Sep 2008 15:07:33 +0000 https://www.investchat.com.au/community/threads/the-in-laws-will.4844/ https://www.investchat.com.au/community/threads/the-in-laws-will.4844/ invalid@example.com (Bluegum) Bluegum 2 Adding some style to death Tue, 01 Jul 2008 01:18:30 +0000 https://www.investchat.com.au/community/threads/adding-some-style-to-death.4390/ https://www.investchat.com.au/community/threads/adding-some-style-to-death.4390/ invalid@example.com (Simon Hampel) Simon Hampel Adding some style to death

Adding some style to death]]> JV with a non Aust. PR. How to setup? Mon, 12 May 2008 00:07:39 +0000 https://www.investchat.com.au/community/threads/jv-with-a-non-aust-pr-how-to-setup.4064/ https://www.investchat.com.au/community/threads/jv-with-a-non-aust-pr-how-to-setup.4064/ invalid@example.com (extradry) extradry
Question: Is there a way for my sibling & I (JV) to invest in established properties now? For instance, setting up a trust? Would that help?...

JV with a non Aust. PR. How to setup?]]> 1 Wills and Special Income Units Sat, 10 Mar 2007 12:07:10 +0000 https://www.investchat.com.au/community/threads/wills-and-special-income-units.2255/ https://www.investchat.com.au/community/threads/wills-and-special-income-units.2255/ invalid@example.com (OLI) OLI
I have a Hybrid Trust with Special Income Units issued to myself as the sole SIU holder, the trust has 2 IP's and no debt as the loans were taken out in my own name for negative gearing purposes. I also have Life Insurance to the value of my debts.

I'm writing a new will with the intention that my wife will take over as trustee and keep the IP's in the trust for the future benefit of our children. My Life Insurance will pay out the loans I have in my own name so the IP's in...

Wills and Special Income Units]]> 4 Generational Wealth Preservation Sun, 04 Mar 2007 13:12:56 +0000 https://www.investchat.com.au/community/threads/generational-wealth-preservation.2240/ https://www.investchat.com.au/community/threads/generational-wealth-preservation.2240/ invalid@example.com (Insight) Insight
Cos I'm too lazy to do that yet I will post it here.

Hindenberg had it spot on I think when he plowed all his investing profits into timberland in the late 1800's, his thought was that who could he trust from his heirs to manage the wealth properly? Income producing land was as close to a fool proof vehicle as you could get, and still is in my opinion.

The Catholic church in Australia is I believe the largest land...

Generational Wealth Preservation]]> 2 Guardianship Thu, 16 Nov 2006 07:57:16 +0000 https://www.investchat.com.au/community/threads/guardianship.1956/ https://www.investchat.com.au/community/threads/guardianship.1956/ invalid@example.com (Jacque) Jacque
Unless he meant something else? One doesn't like to always assume and then find out later that the meaning was misconstrued. Anyone have any ideas about other...

Guardianship]]> 4 Disaster-Proof Your Prized Possessions Mon, 19 Jun 2006 10:26:49 +0000 https://www.investchat.com.au/community/threads/disaster-proof-your-prized-possessions.955/ https://www.investchat.com.au/community/threads/disaster-proof-your-prized-possessions.955/ invalid@example.com (handyandy) handyandy
Came across this interesting article re variuos financial and physical planning.

http://www.fool.com/news/commentary/2006/commentary06060922.htm

Enjoy

Cheers]]> 2 Prep of wills from afar? Wed, 15 Mar 2006 06:02:28 +0000 https://www.investchat.com.au/community/threads/prep-of-wills-from-afar.493/ https://www.investchat.com.au/community/threads/prep-of-wills-from-afar.493/ invalid@example.com (Ol School Skata) Ol School Skata
OSS]]> 6 Timing of Trusts Sat, 08 Oct 2005 17:09:03 +0000 https://www.investchat.com.au/community/threads/timing-of-trusts.209/ https://www.investchat.com.au/community/threads/timing-of-trusts.209/ invalid@example.com (pjb89) pjb89
We currently have 2 IP's and a vacant block of land conservatively valued at 800K+ held in our HDT and feel that we should be setting up another trust so as not to keep all our eggs in the one basket so to speak.

What criteria should one use to trigger the decision to set up a new trust structure?

Thanks in advance

Pedro]]> 2 Recommendation for solicitor to do wills Fri, 07 Oct 2005 07:08:15 +0000 https://www.investchat.com.au/community/threads/recommendation-for-solicitor-to-do-wills.26/ https://www.investchat.com.au/community/threads/recommendation-for-solicitor-to-do-wills.26/ invalid@example.com (Simon Hampel) Simon Hampel 9 Which bits of paper do we need ? Wed, 17 Aug 2005 06:08:19 +0000 https://www.investchat.com.au/community/threads/which-bits-of-paper-do-we-need.124/ https://www.investchat.com.au/community/threads/which-bits-of-paper-do-we-need.124/ invalid@example.com (TryHard) TryHard

Wife and I currently have the following structure :

1. Me - director of 2 companies - one is our trading entity (owns the business I work for) and the other is Coporate Trustee of 2 HDT's
2. Wife - owns our PPOR and our 'future' PPOR (currently an IP)
3. Trusts - own shares and one IP
4. SMSF - both are trustees of SMSF
5. Me - have income protection and disability insurance
6. Wife - covered

We have just had our first (and only!) child. We have been remiss in not...

Which bits of paper do we need ?]]> 2 Posting Guidelines - Estate Planning forum Tue, 05 Jul 2005 14:52:34 +0000 https://www.investchat.com.au/community/threads/posting-guidelines-estate-planning-forum.37/ https://www.investchat.com.au/community/threads/posting-guidelines-estate-planning-forum.37/ invalid@example.com (Test Moderator) Test Moderator
We have introduced these different forum topics to spread some of the discussion into specialised areas, hopefully making it easier for people to find and work with specific topics of interest. We ask that you spend some time becoming familiar with what topics and guidelines are in place for all of the forums.

This "Estate Planning" forum is for any discussion related to wills, probate, testementary...

Posting Guidelines - Estate Planning forum]]>