Will

Who Can See Your Will After Death?

Who Can See Your Will After Death?

There is a broad class of people entitled to see a will once someone has died. The first step is to determine if someone fits within that group.

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( Posted in: Living Estate Planning )

Have You Included Your Pets In Your Will?

Have You Included Your Pets In Your Will?

Most people consider their pets to be a part of the family. In this case, a pet should be treated like so when you pass away. But, most Australians forget to include those with furry, hairy, feathered or scaled appearance in their will. 

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( Posted in: Allied Health )

DIY Will Kits And Their Dangers

DIY Will Kits And Their Dangers

Making your own will may sound like a good idea in theory, but the reality is that it might not count for anything in the end. Here are the most common issues associated with home-made will kits.  

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( Posted in: Living Estate Planning )

Asset Ownership - it pays to get it right!

Asset Ownership - it pays to get it right!

When we buy property or other assets we generally give little or no thought to the legal ownership of that asset. Often we are swept away “in the moment” and don’t consider the various options or legal implications that may arise in the future. No thinks to ask the question, have I purchased in the correct legal structure? Is there a better way?

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( Posted in: Living Estate Planning )

Death and small business CGT concessions

Death and small business CGT concessions

When a person dies, their assets are transferred to their legal personal representative (LPR) or are acquired by a surviving joint tenant, where the deceased owned those assets as joint tenants with another person. As there is a change of ownership a capital gains tax (CGT) event arises. 

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( Posted in: Living Estate Planning )

Property Inheritance CGT & Property Sales

Property Inheritance  CGT & Property Sales

In my previous article I mentioned that if you inherit a dwelling and later sell or otherwise dispose of it, you may be exempt from capital gains tax (CGT), depending on when the deceased acquired the property, when they died and whether the property has been used to produce income (such as rent).

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( Posted in: Living Estate Planning )

Property Inheritance CGT Implications

Property Inheritance  CGT Implications

Since the introduction of capital gains tax in September 1985 if you inherit a dwelling or other property and later sell or otherwise dispose of it, capital gains tax may apply to either the deceased estate or yourself as beneficiary.

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( Posted in: Living Estate Planning )

Deceased estate checklist

Deceased estate checklist

This checklist will help you manage the Australian tax affairs of someone who has died. If the deceased person's tax affairs included carrying on a business, you may need to seek further advice from Paris Financial otherwise these are the steps to follow when someone has died:

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( Posted in: Living Estate Planning )