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Life estates paper


This paper examines some of the issues to be considered by an estate planner when considering the use of life estates and whether this approach still has a role in the modern will. The paper considers some of the general issues relating to testamentary trusts:

  • nature of life interests and reversions
  • capital gains tax and life estates
  • practical application of taxation ruling TR 2006/14
  • advantages of the testamentary trust with life and reversionary interests
  • aset protection and testamentary trusts
  • the master trust concept role of family agreements in the estate plan.

Author profiles

Emma Munro
Emma Munro is a Senior Lawyer at Munro Lawyers.
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Kevin Munro CTA
Kevin Munro is a solicitor and principal of Munro Lawyers. He has 40 years’ experience in tax and superannuation, forming his own firm, Munro Lawyers (initially called Kevin Munro & Associates) in 1994. Kevin provides advice to clients, particularly professional firms and their clients, in respect of tax planning, superannuation, estate planning and wills, and he regularly acts as a consultant for other professional firms. Kevin is active in professional education and gives lectures and workshops for various professional organisations. He was a member of the NSW Law Society’s Advisory Committee for Small Business Accreditation. Kevin is a Certified Tax Practitioner of the Tax Institute and a fellow of the Society of Trustees and Estate Planners. Kevin also holds a Masters Degree in Commerce, a Bachelors Degree in Agricultural Economics and Diploma of Law, and is a 1979 Churchill Fellow. - Current at 21 July 2017
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This was presented at Estate and Business Succession Planning 2012 .

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Individual sessions

Superannuation and estate planning

Author(s):  Michael HALLINAN

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How to structure a business succession plan Parts 1 and 2

Author(s):  Peter BOBBIN

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