Wills, Death and Taxes Made Simple

Wills, Death and Taxes Made SimpleCondition: BRAND NEW ISBN: 9780645821642 Format: Trade paperback (US) Year: 2024 Publisher: Whittaker Description: The catalyst for writing a book about estate planning was a bulletin from Finder claiming that 12 million Australians did not have a will and 60% have never given a thought to estate planning. Thats a serious situation and a signal that many people are unaware of the complexities that can arise if proper estate planning is not put in

Condition: BRAND NEW
ISBN: 9780645821642
Format: Trade paperback (US)
Year: 2024
Publisher: Whittaker


Description:
The catalyst for writing a book about estate planning was a bulletin from Finder claiming that 12 million Australians did not have a will and 60% have never given a thought to estate planning. That’s a serious situation – and a signal that many people are unaware of the complexities that can arise if proper estate planning is not put in place.

 

Recently I was having a chat to the guy who takes care of my garden, and I asked him if he had a will. He replied “never got around to it. It all seems too much trouble. ”  I responded, “you’ve been married before haven’t you –and don’t you have any children from that relationship?” He said yes to both questions. He got a shock when I told him that according to the laws of intestacy the previous family may get a bigger share of his money than he would like if he died without a valid will.

 

Estate planning is a massive topic because it covers such a myriad of issues, many of which are uncertain. It’s not just the interplay of important topics such as tax, superannuation and Centrelink — the estate planning laws differ from state to state. 

 

To this heady mix we add the many facets of human psychology. Many people just don’t get around to making a will, and even if they do, there are the other challenges of choosing an appropriate executor and handling the competing interests of family members. There are further complications due to the number of people living longer and re-partnering later in life, and also the possibility of diminishing mental capacity.

 

And there’s more — many people I know have children living o