International transactions are becoming the norm for individuals and businesses in today's global economy. These transactions have intricate tax ramifications that need to be carefully managed in order to maximise financial results and guarantee compliance with global tax laws. Understanding international taxation...

An executor is the person (or people) named in a will to administer a deceased person’s estate. An individual may appoint up to four executors to act at any one time, although for administrative simplicity, it is usually preferable to appoint 2 or 3 executors at most. When an individual dies without…

A common question that comes up regularly is what happens if a person dies without having made a valid will. This is particularly relevant in respect of clients who see implementing a will as something they can put off until they are older and never getting around to it, or failing…

There are some legal, practical and emotional considerations that need to be factored in when it comes to appointing the right people to act as your executors. As always, there is no ‘one approach suits all’ strategy in terms of appointments. While the executor role is largely administrative, there is still room…

There are a number of tax and stamp duty implications which can arise following the death of an individual, where that individual held interests in related entities. One scenario we encountered recently involved a loan which had been made by a private company to an individual shareholder, who subsequently died...

When a relationship breaks down there is often a need to transfer assets between the spouses in order to finalise a property settlement. The property settlement may be pursuant to Court orders or a binding financial agreement between the parties. Any property settlement needs to be carefully structured to ensure the tax…

A NSW estate litigation case decided earlier this month starkly illustrates the problems with the way in which estate disputes are handled in Australia. The matter involved a mother and her estranged son.  The mother’s estate was worth around $1 million and was left entirely to her older son, with whom…

A recent Queensland Supreme Court case reminded me of the importance of ensuring clients only ever sign one copy of their final will and are warned against signing duplicates or file copies. The case, which was heard in October 2018, involved an individual who had signed three identical copies of the…