Skip to main content

Special Situations Assisting in Special Situations

Assisting in Special Situations

We are privileged to work with individuals and groups in a variety of circumstances. A key element in our personalised approach is to clearly understand your situation and objectives so that we can work effectively together.

The impact of this is that entirely different strategies, structures and approaches may be used in various situations.

Ethical, Healthcare and Religious Bodies

We enjoy working with ethical, healthcare and religious providers. This is quite different to working with individual clients for many reasons:

  • Often, decisions are made by a committee or trustee group
  • There may be specific investment approaches that cannot be used, and other strategies that are important to particular groups
  • Tax implications may be very different: if a group has tax-free status, the investment approach and choice of structure will tend to be very different to a normal taxpayer
  • A variety of stakeholders. This can complicate decision-making, and also makes effective communication very important at all times in the relationship.
  • Specific timeframes may apply, or there may be a variety of different sub-portfolios in the overall investment strategy due to the need to meet different income and growth objectives for different parts of the organisation.

Compensation Cases

Unfortunately, people sometimes suffer serious injury. The resulting compensation settlements can involve large sums, but also other unusual circumstances such as:

  • The recipient may suffer from some physical and/or mental disability
  • Ongoing expenses may be very high to provide for the required care, appropriate home refurbishment, special transport arrangements, ongoing medical procedures, etc
  • There are special tax rules that apply to compensation payments that have a substantial impact on the potential tax and flexibility outcomes
  • There may sometimes be a need to make a special submission to court to outline the financial issues, requirements and potential outcomes. Hub Wealth can assist in such cases

It is vital to deal with experienced advisers who can apply technical skills in a sensitive way to provide the best possible outcome in these difficult situations.

Children or Relatives with Special Needs

This may include a child with a gambling or drinking problem, or a child with a disability, a relative who is injured or sick, or other possibilities.

In these circumstances, we can work with you to structure your affairs both now and for estate planning purposes to provide the desired assistance in the most practical and effective way.

Individuals with Concentrated Stock Positions

Sometimes, senior executives are members of company share plans that result in a very large holding in a particular company. There are often a variety of very specific rules governing when shares can be sold. We work with individuals to understand your particular situation, the tax implications, how to manage the investment and/or currency risk, improve investment diversification and other factors.

Changes of Tax Residency

Sometimes, individuals will move overseas, or to Australia from overseas, for professional or personal reasons. This change can have a number of major implications for existing investments in property, shares, superannuation and for those with self-managed superannuation funds. It can also impact on estate planning, insurance and other arrangements.

Working through the various elements of this is essential to ensure no unnecessary tax is incurred or risk undertaken, while also assessing any resulting opportunities that may arise.

Recipients of an Inheritance or Family Law Settlements

Often, being a recipient of an inheritance or a property settlement is also a very difficult time due to the associated personal loss. There are also a number of practical issues that need to be addressed. These relate to the different tax implications for different recipients of any money from a superannuation or allocated pension account, shares, property, managed funds and other assets.

We recognise the emotional difficulties that are involved in these situations. We help clients to understand the potential tax issues including capital gains tax, and also evaluate the risk/return implications of inherited or transferred assets in the context of your overall situation and existing holdings.

Contact us now to discuss your special investment needs.