At Every Age There Is Something To Protect - Your Estate Plan Road Map With Elizabeth Cummings

Rob Pizzichetta of Mont Wealth hosts Elizabeth Cummings of Conlon Cummings Lawyers to discuss how major life events like death, estrangement, marriage, divorce, or illness should trigger an estate plan review. They cover recent proposed tax changes to trusts and the government’s backflip on testamentary trust reforms, then explain what testamentary trusts are and how they can provide tax advantages (including income distributions to minors) and asset protection, plus stamp duty advantages when transferring inherited property within beneficiary rules. Elizabeth outlines key estate planning needs by age: for 30s (guardianship, trustees, wills, enduring powers of attorney, medical treatment decision-makers, super binding nominations and insurance), 40s (reviewing documents, testamentary trust considerations, choosing inheritance ages), and 50s/60s (trust deed alignment, business succession, and probate processes and family disputes). 00:00 Why Estate Plans Change 00:24 Meet Rob and Liz 00:59 Liz’s Legal Journey 02:43 Testamentary Trust Tax Scare 05:15 How Testamentary Trusts Work 08:58 Wills Meetings and Capacity 10:17 Estate Planning in Your 30s 14:31 What to Review in Your 40s 17:26 Trusts Business and Probate 20:05 Probate Process and Family Drama 22:04 Review Triggers and Wrap Up Elizabeth Cummings Principal Family | Commercial | Litigation | Conveyancing | Wills & Estates ​​ 554 Mount Alexander Road, Ascot Vale 3032 T  (03) 9375 2616 E  [email protected] W  www.conlancummings.com.au