While many people are unlikely to nominate estate planning aka “Thinking about what will happen to my assets when I die” as being on their “most wanted things to do” list, in reality, this is something that should be on all of our “must do” lists. Proactively planning...
All jurisdictions in Australia provide statutory rights for certain eligible persons to contest the terms of a Will if they can show that they have been left without “adequate provision” by the willmaker. These claims are commonly referred to as family provision...
A valid Will determines how your estate is dealt with after you die. Your Will can appoint an appropriate family member or trusted friend or a professional person or trustee company to administer your estate (your executor), nominate guardians for young children,...
Most people over 18 years of age should consider having a Power of Attorney in place. A Power of Attorney is a legal document made by a person (known as the principal or donor) that authorises one or more others, on behalf of the principal, to do anything the...
Insolvency in estate matters occurs when the deceased person’s estate is unable to meet its debts when they become payable and the estate assets are insufficient to meet its liabilities. These estates are administered differently to solvent estates, particularly where...
A trust is a vehicle through which property is legally held by a trustee for the benefit of others. It separates the beneficial and legal ownership of property. The parties to a trust are the settlor (person creating the trust), the trustee (the legal owner of trust...
