We wish our clients, family and friends a very merry Christmas and a happy new year. Our office is now closed until Monday, 9 January 2017
Did you know that your superannuation does not necessarily form part of your estate when you die? This can cause problems unless it is properly dealt with as part of your Estate Planning.
Your superannuation will not be dealt with in accordance with your wishes (in your Will) unless you have a valid and binding beneficiary nomination in place. The trustees of most funds have discretion as to who to pay benefits to. If you have no dependants, the trustee will likely pay it to your estate, but why take the risk?
Take control of your superannuation death benefits and put in place a beneficiary nomination today.
To avoid applications to the Superannuation Complaints Tribunal or the Supreme Court, make a nomination – they can be binding or non-binding, lapsing or non-lapsing and require formalities such as 2 witnesses etc.
Speak to us about your estate planning and ensure your wishes are properly documented.
FURTHER INFORMATION
Craig Pryor is principal solicitor at McKillop Legal. For further information in relation to estate planning, business succession or any other commercial law matter, contact Craig Pryor on (02) 9521 2455 or email craig@mckilloplegal.com.au.
in Estate Planning / Probate / Superannuation / Tax Planning
by McKillop Legal
14 Dec 2016
0 comments
Now is the time of year for many businesses to have their annual Christmas parties. Before dusting off your Santa hat, consider your responsibilities in protecting your staff and your business.
Businesses should be aware of the risks that can arise when holding an office party, whether at Christmas or for any other event. Employers can be responsible for the actions of their employees at such events (such as for sexual harassment and the like) and for injuries that arise as a result of such celebrations.
Employees should be made aware that a Christmas party is a work event and that, although it is a time to relax and enjoy themselves, they need to remain responsible and respectful.
HOW TO MINIMISE THE RISKS
To minimise the risks to your business, there are many things you can do, including:
- Making those members of staff attending aware of their responsibilities and that inappropriate behaviour cannot be allowed;
- Ensuring responsible service of alcohol – by using a third party venue or hiring suitably trained waitstaff;
- Having correctly worded Employment Contracts for all employees;
- Putting in place appropriate Workplace Policies – not just for harassment, intimidation and discrimination, but for social media, taking photographs of others, texting and the like;
- Reviewing your insurance coverage;
Considering transport arrangements for staff to and from the venue, using a buddy system or inviting partners.
FURTHER INFORMATION
For further information in relation to employment issues or any business or commercial law matter, contact McKillop Legal on (02) 9521 2455 or email help@mckilloplegal.com.au.
