Testamentary Trusts Why we believe everyone needs one incorporated into their will.
In Australia, testamentary trusts have become useful for more people than ever before. They're not just for the wealthy anymore. In
this article, we'll explore how changing family dynamics, concerns about mental health, and the wealth of older Australians have made
testamentary trusts important for regular folks like you and me.
A Change in How We Use Them
Once upon a time, only wealthy people used testamentary trusts. They used them to control what happened to their money after they passed
away. Back in the early 20th century, there were fewer blended families, and men usually had more control over the money. Wives were often
in a tough spot financially if their husbands died. Testamentary trusts were a way to make sure family members got money regularly and that
their kids' education was paid for if something happened.
Thankfully, things have changed, and so have the reasons for using these trusts.
Setting up a testamentary trust doesn't have to be complicated, reach out to Smart Business Solutions for assistance with all your Estate
Planning needs, including Wills and Testamentary Trusts, to ensure your hard-earned assets are managed in line with your preferences.
Your Money. Your Way.
Protecting your family's financial future with testamentary trusts
On 31 March, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits, the ATO will be reviewing
whether all employers who should be paying FBT are, and that they are paying the right amount. Who needs to lodge a FBT return? Find out
here.
Why Payday Super Raises the Stakes for Company Directors
If you’re a director of a small business, Payday Super isn’t just an HR or payroll issue. It’s a governance issue that could directly affect
your personal legal exposure.
Payday Super doesn’t just change when you pay super. It also changes how super is calculated. If you’re a small business owner, it’s
important to understand these shifts — because they could affect how much you owe and for which employees.