Stamp duty and Estates
What has stamp duty got to do with your Will? Potentially, quite a bit.
About twice a year I see an Estate where because of something logical and predictable that the beneficiaries want to do with the real estate, one of the beneficiaries ends up having to pay stamp duty.
I also see Estates where they don't end up doing that logical or predictable thing because they can't afford the stamp duty.
If it has been provided for in the Will then 'generally' you won't attract stamp duty, but what options are available to beneficiaries, and what do you need to include in the Will for them to avoid stamp duty?
Decisions like this, and provisions like this in your Will, could save your loved ones a lot of money.
OSR - link regarding Estate duties
Having a great Estate Plan isn’t about fancy legal language, it is about making sure that your personal circumstances and likely future decisions are taken into account.
If you want to take the time to do your Will properly, and I don’t mean a complex and expensive trust, I mean making proper provision for you and your ‘standard’ ordinary assets and liabilities, then give me a call on 0421 887 571 or send me an email at janis@novuslawgroup.com.au
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