estate planning
Who should I choose to be the Executor of my Will?
An Executor is the person you appoint in your Will to manage your estate and carry out your wishes after your death. They will need to attend to the following: Apply for and obtain a Grant of Probate (if required) Collect all the assets of the estate Pay any debts and expenses Arrange tax returns … Read more
Will Challenge Series Part 2: Some Common Challenge Scenarios
Questions about potential Will challenge come in many forms, but they often boil down to two really common scenarios: the re-married parent, and the estranged adult child. In this article, we will take a look at each of these and how they often work out. The Re-Married Parent The scenario Chris has three adult children … Read more
Will Challenge Series Part 1: When Can a Will be Challenged?
Did you know that the incidence of Will challenges has risen by around 25% in the past decade? Statistics tell us that approximately 10% of all Australian Wills face legal challenges, but the true number is likely to be much higher because this figure only records challenges which reach a certain legal stage. This would … Read more
Advance Care Directive
We often mention Appointment of Medical Treatment Decision Maker documents in our Estate Planning discussions. The Appointment of Medical Treatment Decision Maker (AMTDM) is the document under which you can appoint a person to make medical decisions on your behalf when you no longer have the capacity to make those decisions on your own. An … Read more
Transparency in Estate Planning
Family dynamics can be intricate, and sadly, disputes sometimes arise when it comes to estate planning. A lack of transparency regarding a loved one’s Will can intensify these situations and often lead to Will challenges. This blog post emphasises the critical importance of fostering open communication and transparency amongst family members to help minimise the … Read more
EPA & AMTDMs for Young Adults: Why It Matters Now
While estate planning often focuses on older individuals, young adults also benefit significantly from having a plan in place. Two crucial aspects of this plan for young adults are an Enduring Power of Attorney (EPA) and an Appointment of Medical Treatment Decision Maker (AMTDM). While these terms sound complex, understanding their purpose and importance will … Read more
Wills for Young Adults: Why It Matters Now
While estate planning often conjures up images of retirement homes and wealth, the truth is, it’s equally important for young adults to consider taking control of their future. Despite not having vast fortunes, young adults often possess valuable assets, from cherished family heirlooms to growing investment portfolios and superannuation. More importantly, they might have loved … Read more
Understanding Enduring Powers of Attorney
Enduring Power of Attorney (EPA) In the journey of life, we encounter various uncertainties and challenges. It’s essential to plan for the future, not only for our well-being but also to ensure that our wishes are respected and upheld, especially when unforeseen circumstances arise. One powerful tool for such planning is the Enduring Power of … Read more
Who Can Witness Your Documents
A question we get asked a lot is ‘who can witness my estate planning documents?’ In this post we aim to outline in clear terms who can witness your documents. Wills For your Will to be valid, it needs to be signed in front of two (2) witnesses. These witnesses need to be over … Read more
Where Is Your Original Will
It is important to know where you have stored your original documents, including your Powers of Attorney, Wills and even Certificates of Title. It is also important to let your close family members and Executors know where such documents are kept, they do not need to know the contents of the documents but should know … Read more