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When children aren’t an option to act as power of attorney for property or executor of your will, consider other relatives, close family friends or even a corporate executor
The will requires the executor to reside in the property and maintain its condition
Should you accept an appointment to be a trustee or other fiduciary? What responsibilities and liabilities might you face?
The income received by an executor must be included in their assessable income in the year it is derived and taxed at normal marginal rates, says an SMSF legal specialist. Matthew Burgess, director of
The new year brings news of changes to the tax system and the process of administrating an estate to which an executor should be alert, writes Richard Burgess. The changes are both positive and negative - one of them publicised as making an executor’s life easier when in fact it is likely to do the reverse….