Our legal experts will keep you up to date on all relevant and current developments.
Residuary estate, is an often-overlooked but crucial concept in wills and estate planning. In this article, we demystify the concept of residuary estate, offering insights from our seasoned professionals to help you navigate these complexities with clarity and confidence.
![Binding Death Benefit Nominations and Self-Managed Superannuation Funds: High Court Decision in Hill v Zuda as trustee for The Holly Superannuation Fund [2022] HCA 21](/upload/holman-webb-lawyers/shutterstock1582779505-smsf-superannuation.jpg)
On 15 June 2022, the High Court unanimously dismissed an appeal from a decision of the Court of Appeal of the Supreme Court of Western Australia, in the case of Hill v Zuda as trustee for The Holly Superannuation Fund [2022] HCA 21.
The High Court ruled that Regulation 6.17A (Payment of a benefit on or after death) of the Superannuation Industry (Supervision) Regulations 1994, does not apply to binding death benefit notices in self-managed superannuation funds (‘SMSFs’).
This means that binding death benefit notices are applicable to regulated superannuation funds that are not SMSFs, but that binding death benefit notices are not applicable to SMSFs.
In a recent article, Holman Webb highlighted the importance of the Essential Eight mitigation strategies recommended by the Australian Cyber Security Centre (ACSC) which, if implemented, minimises the chance of an organisation falling victim to a cyber-attack.
With this in mind, we thought it timely to remind readers of the importance of staff training and cyber-security vigilance.
Holman Webb Lawyers is proud to relay that the firm has been listed as a finalist in two categories in the Lawyers Weekly Australian Law Awards 2021:
Click through for more information on this year's finalists, and upcoming winner announcements.
Do you have a family trust in New South Wales?
It is important to note that you may need to make urgent (by 31 December 2020) changes to your trust deed, to ensure that you don't pay extra stamp duty or land tax.
Testamentary trusts are discretionary trusts established in Wills, that allow the trustees of each trust to decide, from time to time, which of the nominated beneficiaries (if any) may receive the benefit of the distributions from that trust for any given period. There are significant advantages in incorporating testamentary trusts in Wills.