News
Making a Will if capacity is in question
It is well known that a Will is a legal document which sets out how a person wants their assets to be distributed once they die. If you are over the age of 18 you can make a Will - provided you have capacity. In general terms a person will have the necessary capacity...
Different Wills for different families
When it comes to planning your estate, it is important to consider the types of Wills available to assist in meeting your testamentary wishes. Wills can be very simple or accommodate a range of possibilities. The following is an outline of the most common types of...
Binding Death Benefit Nominations and your Self-Managed Superannuation Fund
Superannuation in Australia is governed by the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act) and Income Tax Assessment Act 1997 (Cth) (ITA Act). Superannuation is a tax-effective way to save for your future. The SIS Act provides for the formation of a...
What a Will Kit doesn’t do
There are various ‘Will Kits’ available on-line – most are cheap or ‘free’ and all you need to do is download them and fill in the blanks. Many websites boast that you can prepare your Will ‘without spending hundreds of dollars on legal fees’. Simple, right? Not...
Testamentary Trusts
Testamentary trusts can be very effective estate planning tools to assist in providing for spouses, children and grandchildren, and are becoming increasingly popular as more people become aware of their advantages. A Testamentary Trust is any trust established under a...
Placing your Family Wealth in a Trust
The basic function of a trust is to separate control and ownership. The result of using a trust is that assets are protected, and profits are distributed in the most tax-effective way. There is no 'one-size-fits-all' type of trust. The trust you use depends on many...
Siblings Fight over Inheritance
Sibling rivalry – it’s a classic, rich plot line for countless books and movies, and a dynamic in millions of ordinary families around the globe. When parents die, sometimes that rivalry fades and other times, it’s the moment that reignites a tension that has simmered...
The Power of Powers of Attorney
Purpose of a Power of Attorney Specific Powers: These documents are drafted as a result of specific instructions for a specific reason such as to sell a particular property whilst the principal is overseas. Enduring Powers: Enduring Powers of Attorney provide for the...
No room for offence when you are asked to leave the room.
The Legal Consultation You might find yourself feeling somewhat anxious about walking into a lawyer’s office for a legal consultation. This is understandable as often you are there to discuss private matters which can play an important role in your life. You may not...
Was it a loan or a gift? – Big difference!
Housing affordability is a big issue for young Australians. When discussing that issue once, a former Prime Minister infamously remarked that the solution was for parents to “shell out” to help their children buy a home. For those lucky enough to have parents able to...