Hot Issues
spacer
Small businesses may ‘collapse under strain of payday super’, IPA warns
spacer
ATO’s hands tied with scrapping on-hold debts, expert says
spacer
What Drives Your Business Growth and Profits?
spacer
Australian Taxation Office (ATO) shifting to firmer debt collection activity
spacer
Why employee v contractor comes down to fine print
spacer
Sharing economy reporting regime for platform operators
spacer
Countries producing the most solar power by gigawatt hours
spacer
Illegal access nets $637 million
spacer
Accessing superannuation benefits.
spacer
Does your business have a company Power of Attorney?
spacer
Labor tweaks stage 3 tax cuts to make room for ‘middle Australia’
spacer
GrantConnect
spacer
2 in 3 SMEs benefit from instant asset write-off, survey reveals
spacer
Updated guidance on R&D claims
spacer
Do you know how to recover debts?
spacer
Wheat Production by Country
spacer
Types of small business benchmarks
spacer
What is a Commercial Lease?
spacer
ATO warns advisers against suspect R&D tax claims
spacer
The year of workplace law upheaval
spacer
How to Resolve Invoice Payment Disputes
spacer
Raft of revenue tweaks in MYEFO to raise millions
spacer
The Countries that Export the Most Wine in the World
Article archive
spacer
Quarter 4 October - December 2023
spacer
Quarter 3 July - September 2023
spacer
Quarter 2 April - June 2023
spacer
Quarter 1 January - March 2023
spacer
Quarter 4 October - December 2022
spacer
Quarter 3 July - September 2022
spacer
Quarter 2 April - June 2022
spacer
Quarter 1 January - March 2022
spacer
Quarter 4 October - December 2021
spacer
Quarter 3 July - September 2021
spacer
Quarter 2 April - June 2021
spacer
Quarter 1 January - March 2021
spacer
Quarter 4 October - December 2020
spacer
Quarter 3 July - September 2020
spacer
Quarter 2 April - June 2020
spacer
Quarter 1 January - March 2020
spacer
Quarter 4 October - December 2019
spacer
Quarter 3 July - September 2019
spacer
Quarter 2 April - June 2019
spacer
Quarter 1 January - March 2019
spacer
Quarter 4 October - December 2018
spacer
Quarter 3 July - September 2018
spacer
Quarter 2 April - June 2018
spacer
Quarter 1 January - March 2018
spacer
Quarter 4 October - December 2017
spacer
Quarter 3 July - September 2017
spacer
Quarter 2 April - June 2017
spacer
Quarter 1 January - March 2017
spacer
Quarter 4 October - December 2016
spacer
Quarter 3 July - September 2016
spacer
Quarter 2 April - June 2016
spacer
Quarter 1 January - March 2016
spacer
Quarter 4 October - December 2015
spacer
Quarter 3 July - September 2015
spacer
Quarter 2 April - June 2015
spacer
Quarter 1 January - March 2015
spacer
Quarter 4 October - December 2014
Quarter 1 of, 2016 archive
spacer
Preservation Age Rules affects those born after 1 July 1960
spacer
SBEs 'to save millions
spacer
Ransomware - BEWARE!
spacer
No Change to Super Fund Borrowing Rules (yet)
spacer
Property to remain at top of ATO’s hit list
spacer
Turnbull stands firm amid SG freeze speculation
spacer
Tax breaks, education and access to advice key to successful transition to retirement
spacer
Dying Without a Will
spacer
Access to good Budgeting and cash flow tools is important to us all.
Dying Without a Will

 

Many will be surprised (possibly unpleasantly) by the formula prescribed in various states legislation, if a person dies without a valid will.

             

Each state has a formula prescribing the proportions that spouses and children will receive.  They often prescribe that a spouse will receive the first $100,000, and half to one-third of the balance.  The children may receive half to the other two thirds.  In Tasmania and New South Wales, the spouse often receives everything.

This may give an answer that is acceptable in simple circumstances, but if you have separated and not divorced or blended families with children from different relationships, the answer may be very much contrary to what would generally be deserved or expected.

The only way to avoid the uncertainty is to make a will.

Having made a will, it is then important to ensure that it is up to date and deals with changed circumstances.  It can also be impossible to change a will if the person loses capacity – this is generally a result of dementia.

 

AcctWeb

 

site By AcctWeb