Life Events Bond

Estate Planning & Wealth Transfer

The underlying legislation for Tax Paid Bonds is the Life Act and as such, they are quite different to Super – which makes them very flexible for Estate Planning and Wealth Transfer purposes and this can provide real peace of mind.

Beneficiary Nominations

Beneficiary nominations in a Bond are very flexible and non-restrictive, they can be relatives, friends, companies, Trusts and Charities. There is no requirement to be a family relative.

You can nominate one or multiple beneficiaries who will receive the Bond’s proceeds (tax-free) on your death as the last surviving life insured. The proceeds will be passed directly to your beneficiaries and not form part of your estate¹. This is very helpful in avoiding Will challenges between family members.

When beneficiaries (are) nominated, there is no necessity for your Estate to apply for the Grant of Probate, minimising time delays, associated costs and maximising inheritance amounts for those you have nominated.

If no beneficiaries are nominated, the tax free proceeds are paid to your Estate.

Bond proceeds are always paid out tax free, at death regardless of how long the Bond has been in place.

Nominations are binding, so do not need to be renewed regularly. Although, if circumstances change, beneficiaries can be amended at any time.

Child Advancement Option

Invest on behalf of a child under the age of 16 and transfer ownership to that child on a date selected by you. The only requirement is that the transfer must occur between the child’s 10th and 25th birthday. On the transfer date (known as the “vesting” date) ownership of the policy passes to the child free of any Capital Gains Tax (CGT). Should you as Bond owner pass away or become bankrupt before the transfer date, the Life Events Bond is held in Trust by your personal legal representative / executor(s) until the vesting date.

KeyInvest is a trading name of KeyInvest Ltd ABN 74 087 649 474 AFSL 240667. KeyInvest is not authorised to carry on business in any country other than Australia. The information contained in this website is directed to and available for Australian residents only. Copyright © KeyInvest 2017 unless otherwise noted.

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