Is inheritance part of divorce settlement in Australia?
Is inheritance part of divorce settlement in Australia?
When looking at inheritance during a divorce settlement, the family court in Australia will also look at the intention set out by the benefactor. For example, if the benefactor either lived or had been cared for by both parties, the inheritance will most likely be considered part of the joint asset pool.
How much does it cost to maintain a trust?
The national average cost for a living trust for an individual is $1,100-1,500 USD. The national average cost for a living trust for a married couple is $1,700-2,500 USD. Part of the reason for this range in prices is the range of services that are available from various estate planning attorneys.
Can a trustee keep the money?
As a trustee, you must use the money or assets in the trust only for the beneficiary’s benefit. Everything you do as a trustee must be done in the beneficiary’s best interests. If that’s the case, you can’t use the money for anything else.
Does the executor of a trust get paid?
Under the Probate & Administration Act 1898 (NSW) an Executor is generally entitled to commission for the work they have undertaken in administering the Estate, provided they have of course, done the right thing by the Estate.
