Don't Let Your Hard-Earned Legacy Go to Waste
Smarter estate planning is not just for the wealthy! Discover how a smarter Will can save your estate > $155,000 or even more - download our FREE guide:
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Even if all you own is your house/apartment, you should still upgrade to a more sophisticated will that properly protects your assets and reduces unnecessary tax.
Your Home Becomes An Investment Property - Case Study
Jane's only major asset is her 2-bedroom apartment worth $800K. Jane leaves everything to her only child, Mary. Mary has a job paying $120K p.a. and 2 children who are still in school. Mary rents a 3-bedroom townhouse and can't yet afford to buy her own home. Once Jane passes away, Mary rents out Jane's old apartment as an investment property, earning $40K p.a. in rental income. Mary holds the apartment for 10 years and then sells it for $1M, making a $200K capital gain.
TOTAL TAX SAVED = $156,650
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With a smarter will, Mary 'streams' the additional $40K p.a. in rental income equally between her 2 children to take advantage of their lower tax rates, saving $14,116 in tax per year, every year. In the final year, Mary can similarly 'stream' the additional $140K income (ie, $40K rent + $100K capital gain after the 50% CGT discount) equally between the kids, saving $29,606 in unnecessary tax.
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This is only possible with a special type of trust called a "testamentary discretionary trust" that can only be created under a will. These trust structures also help to protect your hard-earned assets from creditors and predators. Most lawyers produce only basic wills that don't include this extra sophistication, but we are equiped to provide this higher level of service.
Already have a will? Chances are you need an upgrade, so contact us now for a free review of your current will.
IMPORTANT: smarter estate planning in NOT just for the wealthy, as the above case study shows. You've worked all your life to build what you have – don't waste tens of thousands of dollars in unnecessary tax, and expose your hard-earned assets to risk, for the sake of a few hundred dollars now.
Download the free guide and contact us to discover how upgrading to a smarter will can add tens of thousands of dollars to the value of your estate.