Aside from the emotional turmoil that a divorce brings to a family situation, there are an enormous range of financial issues to be worked through. Here we breakdown the key issues from an SMSF perspective: 1. Despite the extent of breakdown in the marriage, the law is very explicit about the expectations of all Trustees to continue to “act in... More Information ▶
What happens after you go is often one of those things left for someone else to worry about. But your adult kids won’t thank you for an unnecessary tax bill, so what can you do about it? A large portion of most people’s Super is considered “taxable” due to the fact that they or their employer have received a tax... More Information ▶
For many business owners, the eventual sale of the business or businesses IS the retirement fund. And current profits are used to extend the business or fund personal lifestyle decisions such as luxurious family holidays. In fact the more successful a business is, the more the family tends to rely on its future success to fund an accustomed lifestyle. So... More Information ▶
This idea came from Fred, who’s 75 going on 25 by the way! A career entrepreneur, his passion and energy isn’t slowing any time soon! Neither too are his ideas for leaving his family well prepared for the future, especially his grandchildren. Fred spent his lifetime building businesses, which like many people has had its fair share of boom and... More Information ▶
Divorce is the worst-case scenario for a marriage. Amongst the emotional, legal and financial turmoil – which is only compounded if there are kids or pets involved – it can be easy to forget about your super. If you are already within an SMSF, chances are your soon-to-be ex-partner is also a trustee. So what happens when retirement plans, like... More Information ▶
