With improved life expectancy and advances in medical science, Australians can look forward to a much longer and more active retirement than past generations. A male retiring at age 65 is likely to spend around 19 years in retirement and a female 22 years.
Some retirees may also be eligible for an Age Pension or other benefits from the Australian Government. It’s important to understand how all these options work to determine the solution that is right for you.
Information in this document is based on current regulatory requirements and laws, as at 1 July 2020, which may be subject to change.
A testamentary trust is commonly used by estate planning lawyers to protect the assets and inheritance of the testator’s benefciaries from creditors, family law actions and providing flexibility in relation to the distribution of the estate.
There are limits on how much you can pay into your super fund each financial year without having to pay extra tax. These limits are called ‘contribution caps’.
Building Family Wealth takes time. But how easily can it be torn down in expensive litigation, legal challenges and regulatory and economic threat?