Will
Right to Reside v Life Interest
When you own a property or part of a property in your own name, your Will controls what happens to that property. We often see clients wishing to provide a loved one (usually a spouse) with the ability to live in that house, and yet still ensuring that the house ultimately ends up with someone…
Read MoreWhen Executors Don’t See Eye to Eye
It is not uncommon for Wills to appoint more than one person as Executors- often adult siblings. And unfortunately, it is also not uncommon for siblings to fight. We see this regularly in estates where the siblings are both Executors but can’t agree or communicate on the running of the estate. So, what happens? Initial…
Read MoreJointly Owned Assets & Death
Many people are surprised to learn that assets held jointly with another person usually do not form part of their estate when they pass away. In fact, some surprising things can happen with jointly owned assets which you may not be aware of. Let’s take a look at some of the more common ones. Real…
Read MoreOverseas Assets and Australian Wills
With such a multicultural population, it is not uncommon for us to meet with clients who have assets in overseas countries, whether that be real estate, bank accounts or superannuation funds. But does their Australian Will cover these assets? The default answer is generally no – unless the foreign country where those assets are held…
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Free Seminar for Financial Planners: 5 September 2018!
If you’re a Financial Planner, you’re invited to a free seminar! Join us on 5 September 2018 for lunch and to hear Jessica Amberley discuss topics like: Click to view flyer Testamentary Trusts and Asset Protection – Bloodline and 3G trusts – How good is the protection? – Additional strategies Tricky Gifts – Overseas…
Read MoreAdvance Care Directive – Part 1
On 12 March 2018 the laws in relation to Medical Powers of Attorney changed. To help you understand the changes, we will be writing a 3 part article series – welcome to Part 1! The main changes to the legislation were: They are no longer referred to as Medical Powers of Attorney but instead Appointment…
Read MoreThe effect of marriage and divorce on a Will
Life changes often mean you need to update your Will, and marriage and divorce are no exceptions. What is the effect of marriage on my Will? In most cases your marriage will revoke your Will, meaning that you would no longer have a valid Will in place once you are married. There are some clauses…
Read MoreDuties of an Executor
The Executor of your Will is the person appointed by you who becomes responsible in carrying out the terms of your Will and your wishes. Choosing who to appoint as your Executor is not an easy task. The duties of an Executor can be time-consuming and at times confusing. This is especially true for family…
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Will Challenge:When to Worry, and What to Do.
You would probably be surprised to learn how often we are asked about whether a particular family member can challenge a Will. In my experience, when clients raise concerns about their family “black sheep” and whether they can challenge, they feel somewhat embarrassed and usually like their family is different. But the reality is that…
Read MoreWhat is a Discretionary Testamentary Trust (DTT)?
In essence, a DTT is a structure that can be put in your Will that can save your beneficiaries from paying unnecessary tax, and may offer other protections to your beneficiaries as well. Under a Will with no DTT, everything passes directly to your beneficiary – let’s say your spouse. In simplistic terms, your spouse…
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