You know the saying, there are two certainties in life: death and taxes and I'm going to be covering both of those. This article highlights what happens to property you may own or control on your death.
I am ready to meet my Maker. Whether my Maker is prepared for the ordeal of meeting me is another matter.
- Winston Churchill
The death of a loved one is a terrible and traumatic ordeal for surviving family members. This ordeal is further compounded if there are uncertainties on how to handle the estate of the deceased. Hopefully, after reading the following and discussing with your trusted RSM adviser, you can make knowledgeable decisions which will reduce unnecessary stress on your family in the event of your death.
This publication article will focus on different vehicles in which you can own property, and what will happen in each scenario:
- Dying without a Will
- Initial (Capital Gains Tax) CGT exemption
- Property you own in your personal name
- Property you own in a Self-Managed Superannuation Fund (SMSF)
- Property you own in a company
- Property you own in a Trust
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For more information
If you have any further questions about the content in this article, please do not hesitate to get in touch with your local RSM office.