Should I hold life insurance inside my self-managed super fund? When it comes to life insurance, Australians are notoriously under insured. That is, we don’t hold sufficient life insurance to provide for the financial well-being of ourselves and our family in the event of death, diagnosis of a terminal illness, permanent, or temporary disablement. However, […]
What does your dream retirement look like? One of the dilemmas faced by Australians is whether they will be able to afford the retirement lifestyle they have always dreamed of. The answer to the question is of course… it depends. When planning financially for retirement, there are a number of questions that must be considered. […]
Australians are typically very good at spending money. Give me $1.00 and I will spend $1.10, thanks to easy access to credit (often in the form of a credit card). But there comes a time when the need to exercise some personal financial constraint becomes necessary. This may arise as a result of the loss […]
The ATO has warned trustees of self-managed superannuation funds (SMSFs) to be cautious when investing in property. The ATO is concerned that people are using their SMSFs to invest in property without fully understanding their obligations under the law, or that some people are seeking to take advantage of certain types of arrangements. The ATO […]
In general, any death benefits paid out by your superannuation is not dealt with by your Will, and in those circumstances the Trustees of your superannuation fund have the discretion to determine who your death benefits are paid out to. The superannuation law allows for you to direct the Trustees of your superannuation fund to […]
Estate planning can help avoid complications that can arise following the death of a loved one. With an ageing population in Australia, proper estate planning is critical to ensure that your loved ones are adequately taken care of and have directions as to what to do when you move on. Estate planning can include the […]
Depending on the situation some testators often put restrictions on the disposal of the estate. Some of these restrictions include putting the estate in trust, and for the funds to be released when the beneficiary reaches a certain age. Another example is the provision of a yearly annuity to the beneficiary.
Understanding Superannuation when it comes to Estate Planning Superannuation is one of the matters that you have to take into account when doing your estate planning. For most people superannuation is an investment option that comes into maturity when you retire. However, what happens when that doesn’t happen? In the event that something unfortunate happens […]