The risks of being an executor + commissions and personal liability

Are you an executor of a Will? Before administering the estate, you should understand that this role involves risks such as personal liability for the expenses of administering the estate. You also should be aware that you may be entitled to commission for...

Don’t pay stamp duty if you don’t have to

Snap shot: Always follow testamentary options strictly in accordance with the will. Check for Revenue Rulings for guidance Megan, a long-term client and friend comes in to see you about her late sister’s estate. Megan tells you she has been given an option...

Selling your farm

Selling rural property requires additional considerations not common to the transfer of residential property. Ancillary to the land and improvements is the ‘business’ of the farm which may involve the transfer of crops, stock, plant and machinery. There may...

Estate planning – what is an estate plan?

An estate plan involves more than signing a Will and storing it in a ‘safe place’. Estate planning requires a holistic approach in consideration of a person’s present circumstances and foreseeable future. A plan needs to consider who matters, what you have...

Business structures: Partnerships – the pros and cons

When commencing a business venture, it is necessary to consider the most appropriate type of business structure to put in place. In Australia, there are 4 common business structures – sole trader, partnership, trust and company. Different business structures...

The risks of being an executor + commissions and personal liability

Don’t pay stamp duty if you don’t have to

Selling your farm

Estate planning – what is an estate plan?

Business structures: Partnerships – the pros and cons

Categories

Recent Posts