A proper Shareholders’ Agreement will govern how important business decisions are made, how the company will raise further capital in the future and how the investors will ultimately exit – all crucial matters about which there should be clear agreement in advance.

COVID restrictions have been lifted and people are travelling again! We find that as people make travel plans, they think about updating their wills. Using testamentary trusts  Wills prepared by a lawyer may include a testamentary trust that protects your assets and supports your vulnerable beneficiary. Family Law Claims While a basic or ‘simple’ will … Continue reading “Tools for Estate Planning”

The Covid19 pandemic has reminded me of the large number of people with family and friends who live overseas. Here is information that may be useful to you or a close friend. Ordinarily, capital gains tax (CGT) will not apply to assets passing under your Will to a beneficiary. CGT would apply if they later … Continue reading “Estate planning with beneficiary living overseas”

At the time of writing, we were having the Covid-19 Easter long weekend of self-isolation. In our many years in Epping assisting individuals and families with their estate planning, we have found that most people think of doing a will and nothing else.  We now live in a complex interconnected world, when you see a … Continue reading “Estate Planning”

Where there is a will, it would be an application for the grant of probate.  Where you do not have a will, it would be an application for letters of administration.  The application is filed in the Supreme Court of New South Wales. Grants of probate and letters of administration are grants of representation.  A … Continue reading “Probate and Letters of Administration”

As an attorney you have certain duties imposed on you by the operation of law that require you to act in the best interest of the person who appointed you. Under an enduring power of attorney, your appointment continues even if the principal (person who appointed you) has lost mental capacity.  For example, if they … Continue reading “Power of Attorney”

When a person has a degenerative brain disease such as Alzheimer’s disease or dementia would it be too late for him or her to make a will?  Well, it depends on whether the person has sufficient mental capacity to do so at the time of making the will. In Australia, we are guided by the … Continue reading “Mental capacity to make a will.”

Wills prepared by a lawyer may include a testamentary trust that protects your assets and supports your vulnerable beneficiary. The short, simple wills do not have these solutions.  In my experience, the standard form wills often leave your estate and beneficiaries exposed to predators and creditors. Here is a brief explanation so you understand the … Continue reading “Wills”

Have you thought about the capital gains tax implications of your will?   Maybe not.  It is not something we ordinarily come across in our day or in conversation. However, capital gains tax should be an estate planning consideration. Your will should be drafted to protect your beneficiaries from paying this tax on inheriting assets you … Continue reading “Testamentary Trust solves Australian capital gains tax issue”