We cannot find our family trust deed- Does it matter?
Unfortunately yes it can. Losing the deed of a family trust can lead to significant legal and operational challenges, as the trust deed is the foundational document that governs the trust's operations, specifies its beneficiaries, and sets out the trustee’s rights and...
What can go wrong if I do not formalise my property settlement in Australia?
My wife and I split our assets after we separated. We didn’t need lawyers we just agreed. We hear that often. Whilst it may seem simple enough and may save on legal costs to not get the lawyers involved- not formalising things properly can come back to bite you later....
Retirement Village Agreement- To Get Reviewed or Not?
You have made the decision. You are going to enter into a retirement village. The nice people at the Village have given you an agreement to look at together with a bundle of other documents. The documents suggest getting them reviewed by your solicitor. Should you...
Binding Financial Agreements to protect family assets
We have talked previously about how the “Bank of Mum and Dad” is an increasing necessity in Australia for parents to enable their children to enter the property market. There is a risk however when parents advance a large amount of their family wealth to their...
Problems with the “Bank of Mum and Dad”
We have written before about the “Bank of Mum and Dad” which is a colloquial expression referring to parents (or grandparents) providing financial support to adult children, often to help them to make a start to get on to the property ladder. Such support can come in...
What’s New in Succession Law in South Australia?
Often people making wills ask if they can leave particular people out? Those queries regularly relate to former spouses and step-children. The law currently provides for certain eligible persons to make a claim for provision, or further provision, from a deceased...
Choosing the right executor for your Will
Choosing the right executor for your will is a crucial decision that can significantly impact the smooth administration of your estate and the well-being of your loved ones. The administration of a deceased estate is usually a complex and emotionally charged process....
Power of Attorney and Superannuation death benefits
In South Australia, a Power of Attorney (POA) grants someone the authority to make decisions on your behalf regarding financial and legal matters while you are alive. It can come into affect immediately or it can be deferred in its operation to a later time or trigger...
Family Trust vs. Testamentary Trust: Understanding the Differences
Trusts are powerful tools in estate planning, allowing individuals to safeguard assets and control their distribution even after their death. Among the various types of trusts, two common structures are family trusts and testamentary trusts. While both serve similar...
Family law and the family home – your options after separating
If you have separated from your spouse or de facto partner, deciding what to do about the family home can raise a whirlwind of emotions. Many memories are attached to the family home – good and maybe bad – and while some may want to hold onto the home and all the...