estates
Foreign Beneficiaries and the FIRB
There used to be an exemption for property acquired under a Will. That changed in January 2021 when that exemption was removed. A beneficiary of Australian property under a Will who is not ordinarily resident in Australia (which includes both foreign citizens and Australian citizens residing overseas) is now required to obtain approval from the … Read more
Transfer of Property on Death
Ever wonder what happens to your property when you die? Well, it all depends on how the property was owned during your lifetime. There are three main ownership types, sole ownership, joint proprietors or tenants-in-common. Sole Ownership If you own property in just your name, upon your death this property will pass according to your … Read more
What is Probate?
Simply put, Probate is a court issued document that confirms the Will of the deceased is valid and validates the appointment of the person nominated as Executor in the Will. The Executor will need to obtain a Grant of Probate before they can administer and distribute the estate. The official term for Probate is a … Read more