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Making it last

Should you have a will?

DIY WILL KITS Australia Post sells Will Kits and there are a lot of online DIY offerings available. These are better than nothing (as long as they are filled out and signed properly) but really they only cater for very simple circumstances. If you don’t currently have any will, then you may want to use a kit as a temporary solution. This will give you time to consult a solicitor or public trustee (see left).

Property and Self Managed Superannuation Funds

BEWARE OF THE SOLE PURPOSE TEST Your fund must be maintained for the sole purpose of providing retirement benefits to members, (or to their dependants if a member dies before retirement). If you contravene the sole purpose test, the fund may lose its concessional tax treatment, and the trustees could face civil and criminal penalties. So you will need to make sure your property investment satisfies this purpose.