Where there’s a will, there’s the tax man. But you can fight off his excesses and save your family thousands of dollars with some shrewd estate planning.
Planning ensures that your estate passes in the correct proportions to your intended beneficiaries, and minimises the impact of taxes on the assets and income of your estate.
If you die without a will you achieve neither of these objectives and your family could lose control of your assets.
But even if you make a will and conscientiously maintain it, your estate could still be eaten away by ‘white anting’ tax laws.
Resource: Attwood Marshall Newsletter Article 1998