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Xara helps her clients put in place comprehensive estate plans, advising on simple to complex estate planning matters including testamentary trust Wills, Enduring Power of Attorney documents, business succession planning, entity structuring, asset protection, discretionary (family) trusts, superannuation/SMSF succession issues, shareholder agreements and family provision claims.
A graduate of Griffith University, she holds a Bachelor of Laws (Honours) and Bachelor of International Business (majoring in international management), as well as a Master of Human Resource Management. She was admitted to the Supreme Court of Queensland as a solicitor in 2009.
She is currently in the final stages of completing her Master of Laws (Applied Law), majoring in Wills & Estates at The College of Law.
Splitting her time between the Coolangatta and Kingscliff offices, Xara is well versed in both Queensland and New South Wales jurisdictions.
Xara’s passion for estate planning stems from years of experience working in commercial litigation, where she witnessed firsthand the stress and challenges clients can experience. This motivated her to shift focus, using her expertise to help individuals and businesses plan ahead to safeguard their legacies and avoid costly disputes.
With a natural ability to empathise and connect, she takes time to understand her clients’ core needs and key objectives. This allows her to deliver pragmatic solutions with clarity, ensuring her clients feel confident about their future estate plans.
Xara also has experience running her own e-commerce business and is particularly passionate about business succession planning and asset structuring.
Wills and Estates Senior Associate Xara Coassin spoke with Lawyers Weekly about the errors that can make a binding death benefit nomination ineffective, and what lawyers should check before a client signs.
Xara outlined the common mistakes, including not having a valid nomination in place, not following the fund’s rules on witnessing or non-lapsing nominations, and nominating a person who is not eligible to receive superannuation.
“There is a way to ensure that it does go to who you want, and that is by putting in place a valid binding death benefit nomination,” Xara said.
She also discussed the differences between paying super directly to a beneficiary and directing it to the estate.
The interview was also cross-published in Accountants Daily.
Wills and Estates Senior Associate Xara Coassin was interviewed by AusBiz on why retirees need to understand binding death benefit nominations, beneficiary choices and the tax consequences of passing on super.
“If you don’t have a valid binding nomination, what happens is the trustee of the trust fund will actually retain its discretion on who to give superannuation to,” Xara explained.
Xara also discussed the importance of putting estate planning arrangements in place early, particularly as cognitive decline can affect a person’s ability to update their documents. She explains why having the right documents in place can help ensure your wishes are carried out when it matters.
“We say everyone over the age of 18 should really have a Will, enduring power of attorney and have their binding death benefit nomination in place. It’s not just for old people.”
