When you own a small business, estate planning goes far beyond simply having a Will. The structure of your business, whether it is a stand alone corporation, partnership or trust plays a huge role in how your assets are handled and can dramatically affect both your legacy and your family's financial future. This blog post sets out a few critical insights for business owners to keep in mind

Buy/sell agreement – different models of insurance ownership – self-ownership – cross-ownership – trust ownership – holding insurance policies in superannuation – CGT issues and the transfers of exiting party’s equity

Family and small-to-medium enterprises form the backbone of the Australian economy. However, a significant majority of business owners operate without a formal business succession plan. Without a clear strategy, events such as retirement, illness, or death can cripple commercial operations, trigger severe Capital Gains Tax (CGT) debts, or spark damaging family disputes

The Small Business Rollover Relief under Subdivision 328-G was introduced to help small business owners restructure into more appropriate entities without triggering immediate tax consequences. In practice, however, many restructures that appear commercially sensible fail to satisfy the legislation's technical requirements.

We often meet clients who are considering an Enduring Power of Attorney (EPOA) but aren’t sure why it’s so important or are not aware of (or how to avoid) the risks that can arise if it’s not done properly. Here’s what you need to know to protect yourself and your loved ones.

In our opinion, the primary reason for implementing a testamentary discretionary trust is asset protection; any tax benefit should be considered an added bonus - because as we have recently seen government tax policy change quickly change.

That said we thought it might be helpful to provide a brief synopsis of the taxation of testamentary trusts

The proposed changes will impose a flat 30% tax on discretionary trust income, with limited exemptions and no refunds for lower-rate beneficiaries. Existing testamentary trusts are grandfathered. The key unknown is whether minors will retain their current tax advantages.

Testamentary trusts remain a valuable estate planning tool, even as the tax landscape changes. The non-tax benefits—asset protection, flexibility, and control—are as important as ever.

Since Covid-19 the law has stretched the definition of “presence” to include “virtual presence”. In the context your will, power of attorney and guardianship documents, we can now witness a will remotely, provided we adhere to strict protocols.

Here is what you need to know about remote witnessing and execution.

Did you know? Estate disputes often start because someone wasn’t told they could make a claim. A recent NSW case shows why notifying everyone who might have a claim is crucial for fairness—and avoiding family drama.

The power of discretionary trusts for intergenerational wealth transfer

What Happens to Estate Assets When a Loved One Passes Away?

It all begins with an idea.

It all begins with an idea.