estate planning melbourne

The Correct Way to Transfer Control of Your Family Trust

The Correct Way to Transfer Control of Your Family Trust Many small businesses and farming businesses are run in a family trust structure, and many families use family trusts as an investment vehicle, and perhaps own their investment properties in a family trust. Family trusts can be a great vehicle, particular for those who set […]

Avoid disputes

How To Quickly and Easily Avoid Disputes with Your Business Partner

How to Quickly and Easily Avoid Disputes with Your Business Partner Not having a buy-sell agreement with your business partner is a critical mistake that so many business owners make. Whether you are partners, shareholders in a company, or unitholders in a unit trust, you should have a buy-sell agreement. A buy-sell agreement won’t completely […]

exit strategy

Exit Strategy for Tradies

Exit Strategy for Tradies Harris Business Solutions held an information evening for tradies on 23 June 2016 at Hogan’s pub in Wallan. Here’s my presentation from the evening:

types of trusts

Types of Trusts

Types of Trusts I have written an article explaining what a trust is, but this article will take it a bit further. A trust is a relationship between a person (trustee) and another person (beneficiary) in which the trustee holds property (trust property/trust fund) for the benefit of the beneficiary. Sometimes there is more than […]

Business Exit Strategy Checklists – This Goes For Farms Too!

Business Exit Strategy Checklist – This Goes For Farms Too Business succession planning is about planning for the future. It is about making sure that your family and employees won’t be left in the lurch if something happens to you. It is also about planning for retirement, and exiting your business. Here’s a checklist of […]

Self Managed Super Fund: Death and Loss of Capacity

Self Managed Super Fund: Death and Loss of Capacity by Jacqui Brauman I recently attended a seminar at which Peter Pascoe, barrister, shared a paper on this very topic. Since more and more people and using self managed superannuation funds (SMSFs) as investment and retirement vehicles, this information is very relevant. If you have a […]

A Year Of Great Information

A Year Of Great Information by Jacqui Brauman A year disappears very quickly, and if I write a blog a week, that’s at least 50 blogs in the working year. Since I have been doing my Masters degree in Wills and Estate planning, my focus has very much been on providing you with lots of […]

In Case of Emergency: A Case Study For Single Parents

by Jacqui Brauman Sara, a single mother working part-time, with her pre-school children both in day care, had a car accident on the way to pick her kids up. She was trapped in the vehicle, with crush wounds to her legs, and a concussion. Emergency crews took hours to get her out of the vehicle […]

New Powers of Attorney

by Jacqui Brauman The new Victorian Power of Attorney Act is due to start on 1 September 2015. It doesn’t make any changes to the Enduring Power of Attorney (Medical Treatment), but it will change the other two enduring powers: Enduring Power of Attorney (Financial) and Enduring Guardianship. Don’t worry if you have these documents […]

Planning Your Exit Strategy

by Jacqui Brauman Your exit strategy is your succession plan from your small business. For each small business, their succession plan could look different. It could involve, depending on the level of planning: outright sale of the business to a third party transfer of management to family members, along with some form of ownership control […]

Small Business Succession

Small Business Succession Small business succession planning is vital, both to take control of your business’  future and to increasing its value. Most importantly, with succession planning, is the contingency plan – so that if something happens to us, we don’t leave our family and employees in the lurch. Contact us to arrange a chat […]

Baby-Boomer Retirement and Business Succession

Baby-Boomer Retirement and Business Succession In 2013, RMIT University completed a report based on a survey of 5,000 randomly selected Australian small businesses. It showed that: the average age of the owners was 58 the proportion of owners who were 65 or older was 25% within Australia, Victoria accounted for 35% of the firms (NSW/ACT […]

Family Farm Succession Planning

Family Farm Succession Planning Farmers and primary producers who run livestock or grow crops or use their rural properties to engage in the manufacture of products (such as grape growers and dairy farmers) covers a broad range of people with special needs. One of the most common examples of the challenges facing family farm succession […]

Family Trust Succession

Family Trust Succession Your family discretionary trust was probably set up by your accountant with the primary purpose being tax and income flexibility. As you age, your priorities will change, and if you are looking at a succession plan for your family trust (particularly if your business is run in your family trust), then your […]

Succession of family trusts

Succession of family trusts by Jacqui Brauman So you have been running your business or your property investment portfolio in your family trust. But you’re now wanting to retire, or at least know that if you take a step back, that the whole thing won’t collapse. You’re at a crossroads, and you need a succession […]

How Much Does a Will Cost?

Asking “how much does a Will cost?” is a lot like asking “how much does a house cost?”. There is no simple answer. The cost of a Will is dependant on a number of factors.

7 Reasons To Have A Will

There is no obligation to make a Will, but having a Will offers many benefits, both financial and personal. Here are some reasons to have a will.

Life Interest or Use and Enjoyment Trust?

After you die, you might want a spouse or a child to have the benefit of a certain asset for the rest of their lives. You can achieve this a number of ways in your Will: grant a life interest, or to create a use and enjoyment trust, and to give the specific person the benefit of that trust.

Your Superannuation is Not Your Asset

For many people, their superannuation is their biggest asset. However, your superannuation is not an estate asset to be dealt with under your Will. Instead, it is an asset held on your behalf by the trustee of your superannuation fund.

The Sandwich Generation

You have elderly parents who need more of your attention, and your children are young adults but they aren’t completely independent yet. You are stuck between the generations. You are torn between them.

Is Estate Planning Just For the Elderly?

Is estate planning just for the elderly. Simple answer: NO. But the problem is that whilst its important for everyone, those that are busy never seem to get around to it.