The Silence of a Home Full of Memories The silence in a large family home, once filled with the vibrant chaos of a growing family, can become a heavy, palpable presence. For many adult children, this silence is the soundtrack to a slow-burning anxiety: a parent, now in their 80s or 90s, living alone in...
In our connected world, it’s increasingly common for Victorians to have a footprint that spans the globe. You might own a holiday apartment on the Gold Coast and another in Queenstown, an investment portfolio in New York, or shares in a London-based company. This global reach is exciting, but it adds a layer of complexity...
From banking to booking holidays, our lives have moved online. So, why should estate planning be stuck in the past? The COVID-19 pandemic pushed many aspects of our lives into the digital realm, and the traditionally paper-heavy world of wills and estates was no exception. This shift has sparked a nationwide conversation about electronic wills,...
Estate planning is one of the most important, yet frequently overlooked, aspects of managing your financial affairs. It’s more than just drafting a will; it’s a comprehensive process of arranging your affairs to ensure your assets are managed and distributed according to your wishes, both during your life and after you’ve passed on. For Victorians,...
When Peter and Sue, successful Melbourne professionals with a substantial asset portfolio, sat down to plan their estate, they faced a question that troubles many high-net-worth families: how can we ensure our hard-earned wealth is protected and benefits our children and grandchildren long after we are gone? A simple will just wouldn’t cut it. Their...
Elder abuse is a confronting issue, often hidden behind closed doors. With one in six older Australians experiencing some form of abuse, it’s a growing concern for families across Victoria.1 Most perpetrators are not strangers but trusted individuals, often family members.2 Financial abuse, in particular, is one of the most common forms, frequently involving...
He was a decorated hero of World War II. Norman William Maddock signed up to fight at 17, served in Tobruk, and was captured during the fierce Battle of Crete before making a daring escape back to Allied lines. In his later years, however, this tenacious soldier faced a different kind of battle—one of failing...
Elder Abuse, Legal Capacity and Document Control: A Cautionary Tale for Victoria At Hayton Kosky Lawyers, we’ve recently dealt with a concerning matter that highlights a growing problem in Victoria’s ageing population: elder abuse involving legal documents, including wills and certificates of title. While we must keep the details confidential, the situation involved a 90-year-old...
For most Victorians, your superannuation is your biggest asset after the family home. You’ve worked hard, and dutifully contributed a portion of your income, watching your nest egg grow. But there’s a hidden tax trap that many Australians are completely unaware of—one that could see your adult children lose a significant chunk of their inheritance...
The proposed Division 296 tax, targeting superannuation balances over $3 million, presents a significant challenge for many Australians. This additional 15% tax on investment earnings above the threshold effectively doubles the tax rate on those earnings to 30%, making sophisticated mitigation strategies a necessity for high-balance super members. While the legislation has lapsed and will...
