Small changes done in advance can have big financial and logistical advantages down the track. Being prepared is key.
It is challenging to think about, however tragic events can have unexpected tax consequences. We at AMHR seek to guide our client’s effectively through the difficulties involved with trying to plan for the future, whilst also assisting with the obligations and tricky situations that can arise with someone’s passing.
Will establishment - We partner with trusted legal advisors in the preparation of wills that are tailored to your individual situations.
Trust establishment - The creation of a Family Trust or Testamentary Trust (amongst other vehicles) can often form part of astute succession planning. We can advise on these matters, arrange for them to be created and help you through the annual tax obligations and planning.
Superannuation advice - What happens to your superannuation when you die? Do you have a Binding Death Nomination made? How much tax needs to be paid if your superannuation ends up with your adult children? Should you remove your money from superannuation if you are gravely unwell? These are among the many questions which need to be asked when considering death and your superannuation. Some simple planning can make significant changes to the after-tax position for people and their loved ones.
Deceased estate tax obligations - Someone’s passing is often not the end of their ATO obligations. The deceased’s Legal Personal Representative (LPR) may still need to lodge final tax returns for the deceased or for the Estate of the deceased for which complex tax questions can arise. We specialise in assisting the administrations of deceased Estates with these obligations.