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Life estates paper

Published on 08 Aug 12 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

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

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 30 August 2017
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Emma Munro
Emma Munro is a Senior Lawyer at Munro Lawyers. - Current at 03 September 2012
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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

Materials from this session:



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