Posts Tagged ‘Will’
Looking After Vulnerable Beneficiaries – Protective Trusts
Many clients come to us with questions about how to look after someone with particular needs after their death. This could be an adult child with a disability or an adult child whom you are concerned will simply waste their inheritance. Whilst there are several options for these beneficiaries depending on your circumstances, one of…
Read MoreGuardianship of your children
A guardianship clause in your Will is your opportunity to nominate who will look after and care for your children when you die. The guardianship clause in your Will is an indication of your wishes only and as such is not binding. The person you have appointed as your guardian can be challenged by an…
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…
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…
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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Top 5 reasons your Legal Will Kit might cause problems
Let’s face it – most of us are time poor, and most of us are reluctant to spend extra money where it seems like there is a less expensive alternative. Preparing your own Will from a Will Kit seems to address both of these – easy to do at home, and a lot less money…
Read MoreUnsent SMS can be considered a Will!
Would you have thought an unsent SMS could be a Will? Well, the Courts think so! Have a read of this fascinating article to see how that came about. It goes to show the importance of making sure a Will is done properly. Whether or not the gentleman in question actually intended his unsent SMS…
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