As you may be aware, a recent court decision in Victoria towards the end of last year has caused concern in the legal world over distributions from discretionary trusts.
Usually we are instructed to set up discretionary trusts for the benefit of a particular client, with the client as trustee and the client and his/her broader family and related entities as beneficiaries.
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Karen’s son Paul had a drug habit. She left her estate to him on her death hoping he would use the money to undertake the drug rehabilitation programs he always promised to…
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Important new changes to Queensland’s guardianship laws took place on 30 November, 2020. Among various other reforms to the laws, the Queensland Government have issued new Enduring Power of Attorney and Advance Health Directive forms.
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It is so important to have a well-drafted Will, in order to ensure that upon your death, your farm, hard earned money, and other assets: a) Pass to the people you want; and b) Support your beneficiaries’ needs (such as a surviving spouse or children) in the way you want ..
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During the succession planning process, the situation often arises where the older generation (parents/grandparents/aunts and uncles) want to continue to reside on the farm and live in their home, while the younger generation take on the responsibilities of running the farm. It is important ..
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Whilst no one wants to think about it, unfortunately death will come to all of us…and we do not know when. It is so important to have a well-drafted Will, in order to ensure that upon your death, your hard earned money, and precious assets: pass to the people you want; t..
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It’s now officially 25 sleeps until Christmas! …and many of you are probably looking forward to heading off on holidays! Most people think about the usual travel essentials, like what to pack and getting vaccinations, but many forget to ensure important legal matters are taken care o..
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An unsent text message found on a deceased man’s phone has been declared by the Queensland Supreme Court to be his valid Will. The text message was addressed to the man’s brother, and contained details about how he wanted his assets to be dealt with on his death.
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You may have heard in the news recently about Daniel Leverton, a young man who died unexpectedly. Various people have expressed outrage over the fact that his girlfriend of nine months ended up with around $350,000.00 of his superannuation and life insurance, while his two young daughters only received around $50,000.00 each.
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From time to time, for various reasons, you or your clients may wish to change the trustee of a trust. When this occurs, all the trust assets held in the name of the retiring trustee need to be transferred to the name of the new trustee. Sometimes, the trust assets may include one or more m..
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Do you want half price legal and accounting services when preparing your Wills or transferring your farm onto your children? Succession and estate planning has been one of the biggest challenges faced by primary producers for generations. Passing on control of the family farming business an..
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You probably have heard about the 2016-17 Budget and related superannuation reforms due to apply from 1 July, 2017. However, you might not have thought about estate plans and trust deed updates. In order to ensure your clients are going to be prepared, you need to read on. Two importan..
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You probably have heard about the 2016-17 Budget and related superannuation reforms due to apply from 1 July, 2017. However, you might not have thought about estate plans and trust deed updates. In order to ensure your clients are going to be prepared, you need to read on.
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Happy New Year from the team at McKays! Now that the silly season has passed, it is time to get down to business and put in place goals for a successful 2017. The New Year is a great time to reflect on the year gone by, but also plan for the year(s) ahead. Here are our top legal tips..
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