15 minute read
Nicholas Lawton - Legal Light
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LEGAL Lightwith NICHOLAS LAWTON
FROM PRIEST LEGAL
ESTATE PLANNING & SUPERANNUATION
Many of us spend a great deal of time planning for our retirement but do not put the same effort into planning for our deaths. Estate planning is not always a pleasant topic to think about, nor is it a commonly understood process. It is however a way of caring for your loved ones even after you pass, and one that will ensure your assets go where you want them to.
Good planning can help your executors minimise trouble when administering your estate – and may even reduce taxes and costs. For most people, estate planning involves simply creating a will. While this is an important fi rst step, sometimes it is not enough.
Increasingly, superannuation is a major asset for many people, before and after retirement. In many cases people die with a substantial superannuation balance, and we fi nd that it is often overlooked in the estate planning process.
Why? Simply put (and at the risk of being unpopular) your superannuation is not “your” money. The reason for this is that your super fund is a trust set up to fund your retirement. Legally, you do not actually control the assets held in that trust; they are controlled by a trustee and administered for your benefi t. Unlike your home and car and the money in your savings account, the investments held in your superannuation fund do not form part of your estate when you pass. That means that in most circumstances your superannuation will not pass in accordance with your will, unless you have made specifi c arrangements for that to happen.
In the absence of suitable planning, the trustee of a super fund has discretion as to which benefi ciaries may inherit your super and will decide on a distribution between your dependants. It is not uncommon for disputes to arise about who should benefi t. For example, in split or blended families there may be competing interests between a spouse and children from a previous relationship. It is up to the trustee of your super fund to make a decision in such disputes.
The main way to retain control of what happens to your super after your death is to make a Binding Death Benefi t Nomination (BDN). This important document sets out instructions to the trustee of your super fund saying how you want your remaining super to be distributed on your death. Provided the nomination is valid – and there are strict rules about validity including setting out precisely how it should be written, signed and dated – the trustee must follow the instructions. A BDN therefore allows you to direct where your super goes on your death. It can be just as important as your will in determining what happens to your assets when you die. It is an essential part of any estate plan.
If you would like to know more about what happens to your superannuation when you die, or have any other estate planning questions, the friendly team at Priest Legal are here to help.
GEMLIFE
RAINBOW BEACH
The exciting new face of retirement living on the Mid North Coast.
Fresh, innovative, and stylish are terms not typically associated with retirement living. But a closer look shows a quiet revolution is underway on the Mid North Coast, with Australian developer GemLife shaking up the landscape and transforming the way over50s, downsizers, and retirees live in 2021 and beyond with a new lifestyle resort in Lake Cathie.
The resort, GemLife Rainbow Beach, is currently under development and long-time local resident and realtor Craig Dixon is heading up sales.
“I am excited to be involved with GemLife’s first resort on the Mid North Coast, the company’s tenth since launching just over four years ago. GemLife Rainbow Beach offers over-50s buyers an innovative home and lifestyle concept and one which is already attracting a lot of interest, locally, from Sydney, and from interstate too,” Craig said.
GemLife is at the forefront of a revolution in over-50s living, one which Craig says has been long overdue, with the real estate industry being slow to adapt to the changing wants and needs of older Australians who are healthier and more active than ever before, and equally passionate about great design as younger generations.
“Retirement is a loaded word that comes with a host of outdated associations about ageing that don’t reflect the reality of today’s over-50s. This is, even more, the case with ideas about ‘retirement living’,” said Craig.
“There is a huge gap between the stereotypes and the truth. Most over-50s are adventurous, curious and freedom-loving – they see life opening up before them, not slowing down.”
When GemLife launched, the company set out to redefine the sector with an emphasis on a dynamic lifestyle, high-quality homes, and a huge offering of resort-style facilities for fitness and fun.
Facilities at GemLife Rainbow Beach, for example, will include a luxury two-storey country club with an indoor swimming pool and spa, sundeck, sauna, ten-pin bowling, golf simulator, cinema, wine room, rooftop terrace and lounge, bar and cafe, in addition to an outdoor pool, barbecue areas, tennis courts, community garden and, being a petfriendly environment, an off-leash dog run.
The approach has hit the mark – across Australia GemLife homes are consistently selling faster than competitors.
Craig said that home buyers were responding enthusiastically to the offering.
“This is a beautiful part of Australia with so much to offer. The location combined with high-quality homes and superb facilities makes it very attractive to buyers,” he said.
“I am excited and inspired by what’s to come at GemLife Rainbow Beach. It really will open up possibilities for over-50s to live life to the fullest.”
GemLife Rainbow Beach will feature 178 homes, as well as a stunning country club and an extensive range of outdoor recreational facilities.
There are 11 two-bedroom plus multipurpose-room home designs to choose from with unrivalled levels of customisation available, including multiple colour-schemes and facade options. All homes are sixstar energy rated and built with high-end, low-maintenance living in mind. Standard inclusions comprise ultra-high ceilings, energy-efficient solar panels, premium kitchen appliances, including Smeg ovens, cooktops and microwaves, quality tapware, zoned air-conditioning, and much more.
Work has commenced on the site with residential home construction expected to begin later in the year.
ABOUT CRAIG DIXON
A long-time local of the Lake Cathie area, Craig brings 24 years of real estate experience to his role as Sales Manager at GemLife Rainbow Beach. A licensed real estate agent and auctioneer, Craig has extensive knowledge about and passion for Lake Cathie and the surrounding region.
The GemLife Rainbow Beach Sales Office is located at 20 Forest Parkway, Lake Cathie.
Opening hours are Monday to Friday from 9am to 5pm and on Saturdays from 10am to 4pm. Call 1800 718 413 or visit www.gemlife.com.au
focus_interview
Caroline w t
ZAC COOMBS
As the son of a music man, for Zac Coombs it seemed like destiny to become a successful musician; and fate would guide him to becoming the leading man of Showtime Australia’s The Sweet Caroline Tour: A Tribute to Neil Diamond.
Hey Zac. You’re a successful musician (inevitable really having grown up in a music loving family), and are lucky enough to be the lead singer of the Sweet Caroline tour. Tell us a little about your background and how this came about?
Music has always been a huge part of my upbringing. There was a wide variety of music played in the Coombs household from early 1940’s swing jazz, 1950’s rock ’n’ roll, heavy metal and punk rock of the 1980’s and the pop music of the 1990’s. Music was everywhere growing up as a child. My parents were avid music lovers. So much that they gave me my first name and middle names based around famous musicians. Francis (first middle name) was taken from Francis Albert Sinatra or Frank Sinatra – my father’s favourite singer. Lillis (second middle name) was taken from Harry Lillis Crosby a.k.a. Bing Crosby – my mother’s favourite singer. And Zac was taken from Zak Starkey – son of Richard Starkey better known as Ringo Starr.
It goes without saying – I was born to be a musician. I started playing guitar and singing in my teenage years with my extended family, where during the holiday seasons we’d get together and sing songs of all genres for hours on end.
Beyond high school, I studied and completed university degrees in both Bachelor of Music (with Honours) and Masters of Teaching for High School, specialising in Music.
I put a hold to this career when I acquired a job working as a pub entertainer on cruise ships. I guess you can say of my appreciation for Neil Diamond’s music – it was here “where it began”. Wherever I was travelling to and from on the ships (the UK, Europe, USA, the Caribbean, Canada, New Zealand, South Africa, Australia), Neil’s songs became a staple of my song repertoire as they were constantly requested every night. So I would learn and perform them – often the very next day of the request being given. These experiences put me in good stead to be able to take on the lead role for this show.
We’re taking a step back to the glory
I started playing days of music and guitar and singing musicianship with in my teenage years this beautiful tribute with my extended concert. Tell us about family, where during the Tribute to Neil the holiday seasons Diamond tour and we’d get together and what we can expect sing songs of all genres from the show? for hours on end. The show consists of a vast collection of Neil Diamond hit songs spanning across his illustrious career. We also go into the stories behind them. It’s a storytelling show where we delve into the songs, their history and how they came to fruition. This is consistent with the way Neil performed on stage. He loved to talk to his audiences about his songs and how he wrote them. This is also how I like to conduct myself on stage as well. Talking to audiences is something I love to do.
A lot of preparation goes into the tours, not only on stage but off. How has this all been going and what would you say is your number one priority to work on leading up to a performance?
I was offered the role in December 2020. Since then, I created a playlist of the songs
that we do for the show, sang and listened to them daily for the better part of 6 months. Most of the songs I already knew from my days working on the cruise ship circuit. But I would mostly sing these with my own voice in my own way. So I had to do a lot of re-learning as part of the process. I would focus mostly on the phrasing, tone and pronunciation of his words and the way they were sung. Not to mention that Neil rarely sang any of his songs the same way in live performances. It would always be different each time. So this was something I have to pay attention to as well for the show to be as authentic as possible. These were of my primary focus in preparation for the show.
Beyond this, I would perform these songs at my solo gigs in pubs around Sydney to get an idea of how the audiences would react to them. You can learn a lot by the way people respond to a song when performing them as a solo act. It gave me insight into ways of engaging with an audience beyond just singing the songs.
It can’t be easy stepping into these big shoes, emulating a voice that’s so deep, resounding and world renowned. Each time you step onstage and perform, what’s going through your head at the time?
This has been one of the most challenging experiences of my music career. With a show of this scale and production, because I’m playing Neil Diamond, the focus is solely on me for almost 100% of the show. The audience comes to this show expecting an experience that is as close to the real Neil Diamond as possible. It can be very intimidating to be put in that position without putting in the time and acquiring the experience needed to perform lead in a show such as this. All the little things such as remembering lyrics and the music, the stories of the songs, the way the audience reacts to the songs. It’s the culmination of these thoughts that can feel like a high speed freight train running around in my head at 110 miles an hour. Granted, I’ve loved taking on this project and relish the pressure that it brings.
But most importantly, I cannot do this without the wonderful team of musicians and production crew behind the scenes that make this show what it is. It’s very much a team effort and I’m grateful to have these people as a part of the show.
What’s the reaction and support been like from the community of Neil Diamond fans?
We are currently in the middle of our debut tour in New Zealand. So far, the show has been very well received. The love of Neil Diamond’s music is paramount everywhere we go, especially in Australia. So to have the audiences sing and dance every time we perform makes us proud and happy. And since I’m currently residing in Australia and I know how much people love his music, I’m next to certain that everyone coming to see the show will enjoy it immensely.
Good songs are always gonna be good songs. Why do you think that these old school lyrics can translate across to the younger generations so well?
I think Neil Diamond’s music will always be timeless and carry on for generations to come. Let’s not forget that Neil’s songs have already been passed down through other artists performing their own versions. These include “I’m A Believer” (performed by The Monkees in the 1960’s and Smash Mouth in the 2000’s), “Red Red Wine” (a massive hit for UB40) and “Girl You’ll Be A Woman Soon” (Urge Overkill, whose version appeared in the 1994 movie Pulp Fiction). These have proven that Neil Diamond’s music has already passed on to younger generations. His music will always reinvent itself because, to put it simply, the songs are ageless. They are simple, convey great messages and stories about life, and his voice will always resonate into the future.
Thanks Zac.
Sunrise Supported Living in Tuncurry WILL BE OPENING THE FINAL SECTION TO THE THIRD STAGE of their village in July 2021.
Third & Sunrise's i t
This will see completion of 14 additional villas, most of which are the largest two-bedroom design and some of those will have their own attached single car garage with internal access. Central undercover parking is available for all other residents.
We spoke with Sunrise Director, Paul Greenup, who said that Sunrise had struggled to keep up with the demand for their unique Supported Living model.
“Sunrise is a totally unique Seniors living model. Our villa units are set up for independent living, complete with full kitchens giving our residents the option to live entirely independently if they prefer. Having said that, Sunrise offers all the care and support services that you would normally expect in a residential aged care facility. The combined freedom and support provided is what makes Sunrise so special and popular.”
Stages One and Two consisting of 78 units are already sold out and they are down to their final remaining units in Stage Three. Couples can stay together in their own villa unit even if they have very different levels of care and support requirements. All residents can enjoy meals in the Sunrise dining room for lunch and dinner 7 days a week if they so choose. A delicious and free morning tea is served to all residents
Sunrise is a fully each day. Government accredited Home Care provider. is means that Sunrise is a fully Government accredited Home Care provider. This means that Sunrise can o er care and Sunrise can offer care support services to their and support services residents on 24 hour/7 to their residents days a week basis at no on 24 hour/7 days additional cost to their a week basis at no current care package additional cost to their arrangements. current care package arrangements. It also means that Sunrise can split a care package time allocation to various times of the day to suit their residents’ needs. If a resident does not have an existing Home Care Package, a member of our Care Team can assist with the application process for them.
Sunrise is the only village on the Mid North Coast to offer all the independence of a retirement village and all the support of a Residential Care facility
“To keep up with the demand, our care team has doubled in size since the middle of last year, with lots of caring additions under our highly experienced Director of Care, Jane Stockham. Sunrise are proud to be able to assist our great community by providing more job opportunities locally.”
Sunrise has a full-time activities officer and offers a range of activities to all residents whilst the two Sunrise Village buses are available for daily outings and shopping trips. Sunrise is also very ‘pet friendly’ so residents are most welcome to bring their ‘fur babies’ along.
To find out more about Sunrise’s upcoming Grand Opening “Like” the Sunrise Supported Living Facebook page. This is also the best way to keep updated with news inside the village.
To arrange a sneak peek of the village and have first pick of the brand new villas before Sunrise officially opens please contact call: 02 5528 5001
