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RESOURCES

WILLS & ESTATES

What is a Deed of Family Arrangement?

What is a Deed of Family Arrangement?

A Deed of Family Arrangement is a document used in the administration of an estate to change the way assets are distributed between beneficiaries.  As a result, an estate could be divided in a way which is different to the terms of the Will or where there is no Will,...

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What is a codicil?

What is a codicil?

A codicil is a legal document which acts as an extension to your Will so that you can make minor changes or adjustments to your Will without having to rewrite the original. When is a codicil used? As mentioned above, codicils are used to make minor changes to a Will. ...

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What is on your EOFY to-do list?

What is on your EOFY to-do list?

The end of financial year is only a couple of weeks away and while you may be getting together all of your pay slips, bank interest details and share dividend statements together for your accountant, it might be a good time to also create or review your estate plan....

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Social Media And Digital Assets In Estate Planning

Social Media And Digital Assets In Estate Planning

A digital asset includes a wide variety of electronic records and files that are stored online, on mobile devices or on personal computers.  Essentially, any digital record that you keep is a digital asset and should be dealt with in your Will. Digital assets can...

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Intermeddling With An Estate

Intermeddling With An Estate

To "intermeddle" (or interfere) in the administration of a deceased estate can include dealing with assets of a deceased person before a Grant of Probate has been received.  Should anyone, other than an executor appointed in a Will transfers, disposes of or otherwise...

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Your burial, ashes and wishes

Your burial, ashes and wishes

In our recent article we discussed funeral arrangements and costs and how decisions regarding your funeral will be the responsibility of your legal personal representative, whether that be the executor appointed in your Will or the administrator of the estate (or...

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Funeral arrangements – who has the final say?

Funeral arrangements – who has the final say?

After your death, your loved ones have many matters that need to be dealt with, one of which is your funeral arrangements.  Understandably, there can be differing opinions amongst family members as to what arrangements are to be made for your funeral.  So, who does...

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Unclear Or Uncertain Wills

Unclear Or Uncertain Wills

Where a Will is poorly drafted to the point where the Will, or any part of it raises questions on the administration of the estate, it may be up to the Supreme Court (referred to as the Court of Construction) to determine how the Will should be construed. Examples of...

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What Is An Estate Plan?

What Is An Estate Plan?

Many people are reluctant to think about making a Will as death is not a pleasant topic to consider, however making a Will or thinking about your estate is important to complete while you have the time and capacity to do so.  It is important to understand though, that...

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Where Do You Start When Dealing With A Deceased Estate?

Where Do You Start When Dealing With A Deceased Estate?

If you need to manage the estate of a deceased loved one, it can be an overwhelming and stressful time. Not only are you having to deal with grief over their death, you have the responsibility of ensuring that their wishes are complied with. This can seem quite...

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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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