BY AMANDA TULLY SNAPSHOT Amend trust deeds with caution. Understand your client’s structure when preparing their will. Best practice is to always involve the accountant. You are acting for the estate of one of your long-term clients, Lily, who died, leaving...

Holly and Woody come to see you about updating their wills and discuss their estate planning. Both are in their early 80’s and, thanks to Holly with her remarkable skills in day trading, have done very well in the share market since their retirements 10...

Ken and Mary work in the same legal firm, both focusing on tax and succession. Ken is a bit older and therefore a bit more experienced. Mary is somewhat sharper in her technical knowledge. They work together well, often sharing the workload. Will and...

Takeaway points: Take care when doing anything involving a discretionary trust. Consider section 54 of the Duties Act 1997 before changing a trustee and make sure the change of trustee document addresses the requirements for any transfer of dutiable property...

Snapshot Never assume that just because its farming land and your clients are related that s274 will apply Read the section carefully (and every time) especially if there are trusts, companies and superfunds involved Consider the ruling if an aspect of s274...

Peter and Patricia have instructed you to prepare their wills. Peter and Patricia own where they live and also two commercial properties, each worth about $3 million and subject to a mortgage of  $2.5 million.  They have a share portfolio, which they started...