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