RESOURCES

WILLS & ESTATES

Informal Wills – What are they?

Informal Wills – What are they?

Your Will is a legal document which clearly sets out your intentions and wishes on how your estate is to be managed after your death. There are several legislative requirements that must be met in regards to making valid Will and in Victoria, these include: The...

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New Year, New Will?

New Year, New Will?

We have said goodbye to 2021 and welcomed in 2022.  What are the resolutions you have made for this year… .a family holiday, a new home or maybe a new job?  Whatever they may be, we wish you every success in achieving them.  One thing that may be on the list of...

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Why Make a Will?

Why Make a Will?

It is estimated that more than 40% of Australians do not have a Will.  Of those 40%, approximately half know that it is something that they should look into, however procrastination has prevented them from doing so. Your Will is a legal document which provides for how...

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Inheritance and Capital Gains Tax

Inheritance and Capital Gains Tax

What is Capital Gains Tax (CGT)? A capital gain occurs when an asset is sold where the sale amount is greater than the amount paid for the asset (cost base).  Essentially, it is the profit made on an asset (subject to some qualifications and discounts). The capital...

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The A – Z of Wills and Estates

The A – Z of Wills and Estates

The world of Wills and Estates can be confusing so we have put together a list of common phrases you may come across when dealing with a Will, Estate Planning or in the administration of a deceased estate. Administrator A person appointed by the court to act as the...

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What to Know About Contesting a Will

What to Know About Contesting a Will

If you feel as though you have been unfairly left out of a Will or have not received a share you think is adequate, you may be able to contest the Will. When making a Will, people have what is known as “freedom of testation”, which is the freedom to choose to whom...

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What Can We Learn From Diego Maradona?

What Can We Learn From Diego Maradona?

In November 2020, Argentinian football icon, Diego Maradona died at the age of 60 leaving behind at least eight children to six different women, a portfolio of properties, image rights and an amphibious tank.  What can we learn though?  Maradona is reported to have...

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I Am Not Old Enough To Have A Will – Fact Or Fiction?

I Am Not Old Enough To Have A Will – Fact Or Fiction?

Only old people need to have a Will. I am too young to write a Will. Both statements are fiction. There is a common misconception that millennials or Gen-Z’s don’t necessarily need a Will because they are still acquiring assets and don’t have that retirement nest-egg...

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Common Mistakes Made By Executors

Common Mistakes Made By Executors

An executor is the person authorised and appointed in a Will to administer an estate in accordance with the terms contained in the Will.  Often they will be referred to as an executor, an executrix or a legal personal representative (also known as “LPR”s). Being an...

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Blended families – what to consider when making a Will

Blended families – what to consider when making a Will

A blended family is when you enter into a new relationship and you and/or your partner are bringing with you children (whether under the age of 18 or older) from a previous relationship.  Because of these family dynamics, the preparation of a Will and an Estate Plan...

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My Loved One Has Died. What Do I Do?

My Loved One Has Died. What Do I Do?

After the death of a loved one, it is important that you take the time to grieve for your loss. This emotional time can be made more stressful for some as there are legal steps that need to be taken during this difficult time.  Finalising someone’s affairs and...

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Estate Planning: The top 3 things you need to know

Estate Planning: The top 3 things you need to know

The idea of estate planning is often sensitive and daunting, which causes a lot of people to put it off for as long as possible. Unfortunately, the reality is that anything could happen to us at any point in time and this could create unnecessary financial mess when...

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Can I include cryptocurrency in my Will?

Can I include cryptocurrency in my Will?

Cryptocurrency such as Bitcoin has been gaining popularity over several years as a common investment for many people.  It is because of this growing interest in digital currency, there is now a need to provide for it in your Will.  As this form of asset is not your...

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Does My Separation Affect My Will?

Does My Separation Affect My Will?

A common misunderstanding that many clients have is that separating from a partner, or the process of a family law property settlement will automatically revoke a Will, when in fact a separation from a partner will only revoke a Will when divorce is finalised.  In...

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