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What is a Testamentary Trust?

What is a Testamentary Trust?

What is a Testamentary Trust? A Testamentary Trust is a form of discretionary trust that only occurs upon the testator's death. It allows the trustee of that trust greater discretion in relation to both the control and distribution of assets within the trust to its...

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Vacant Residential Land Tax Impacting Victorian Homeowners

Vacant Residential Land Tax Impacting Victorian Homeowners

Vacant Residential Land Tax Impacting Victorian Homeowners  Attention property owners! The state government has recently issued a new Vacant Residential Land Tax (VRLT). Initially introduced in 2017, this annual tax has gradually expanded its reach and, as of...

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Self Managed Super Funds and Binding Death Benefit Nominations

Self Managed Super Funds and Binding Death Benefit Nominations

Most of us have some form of superannuation, either in an industry fund or a Self Managed Super Fund (SMSF) in Australia. Here at McNab McNab & Starke, we know just how crucial it is that you understand the way your super works, particularly in relation to SMSFs. You want full control over what happens to your assets when you die, and one way to ensure your superannuation goes to the right place is through a death benefit nomination.

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What is a Grant Of Probate?

What is a Grant Of Probate?

When you make a Will, you need to appoint an executor and, in some circumstances, a trustee, who will handle your affairs when you die. It’s commonly assumed that a Will can be actioned immediately after death. However, in many cases the Will can’t be acted upon until Probate has been granted by the relevant court. Before your executor can distribute your assets in line with your Will and pay off your debts, they may need to apply for a Grant of Probate.

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Divorce – Can I apply?

Divorce – Can I apply?

You can apply for a divorce once your marriage has broken down irretrievably and you have lived separately and apart for twelve months immediately prior to the date of filing your application for the divorce order…

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News & Victoria Law Updates

News & Victoria Law Updates

The team at McNab McNab & Starke has put together this newsletter of recent legal news in Victoria. These digestible, bite-sized news updates help you keep up with the latest in Victorian law. This edition covers recent legal news from circa April and May 2022....

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Mediation: Why Is It the Best Way Forward

Mediation: Why Is It the Best Way Forward

Mediation can be used to resolve legal disputes in respect to the distribution of deceased estates, just as it is used for businesses and other legal matters. In estate disputes, mediation can be effective in resolving disputes concerning entitlements to the deceased...

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