Life interests v a rights of residence – understanding the difference
Property rights in Australia can be a difficult landscape to navigate and when it comes to estate planning, the terms “life interest” and “right of residency” often surface. While these terms might sound similar concepts, they actually represent different legal...
Probate and Letters of Administration: What’s the difference?
We know that dealing with the task of finalising someone’s affairs can be confronting and challenging and for a lot of people, this is unfamiliar territory and can be a challenging process, compounded by legal terminology that may be unfamiliar. In Victoria, two key...
Understanding the Gift Over Provision in a Will
When creating a Will, one important consideration is ensuring that your assets are distributed according to your wishes, especially if unexpected circumstances arise. When making your Will, you will nominate beneficiaries to inherit your assets upon your death. ...
Understanding the Essentials: What is a Power of Attorney?
A Power of Attorney is a legal document that authorises a person (the attorney) to act on your behalf. Depending on the type of power given, the attorney may be able to make financial, legal, personal and medical decisions for you when you are incapable of doing so....
Understanding the Essentials: What is an executor?
In the administration of a deceased estate, the term ‘executor’ hold significant importance. An executor is a crucial role and 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...
Understanding the Essentials: What makes a valid Will?
In Victoria the elements of a valid Will are set out in the Wills Act 1997. To ensure that your wishes are honoured after your death, it is crucial that your Will be valid because if it isn’t, your loved ones may incur additionally stress and costs in administering...
Understanding the Essentials: How to revoke your Will
Life is not always smooth sailing and occasionally it throws us a curveball, and suddenly your Will which you put so much time and thought into no longer aligns with your wishes. Maybe you have had a change of heart, a falling out with a family member or assets have...
Paws for thought – Including your pets in your Will
Recently there was an article about a woman in China leaving $4.3 million to her cats and dogs rather than her children because she claimed her children rarely visited her when she was unwell. This article prompted us to think about how with our animal companions...
Is 2024 the year you make a Will?
We are now already over 2 weeks into 2024 and as we all return to work and our holidays become a faint memory, you may have started thinking about your goals for this year. Did you make any resolutions for 2024? Maybe a family holiday, a new home or maybe a new job? ...
Why use a lawyer when I can make a Will online or with a DIY kit?
Is the cost of a lawyer worth it when you can pay cheaper for a DIY or online Will? We often find that clients can be apprehensive about using a lawyer to make their when there are easier, quicker and cheaper options available such as online or DIY Wills. However,...
Appointing a Guardian in Your Will – Ensuring Your Child’s Future
If you are a parent of child who is under 18 years of age, it is important that you seek legal advice on creating a Will that provides for their future. A large part, and sometimes the most difficult part of this process involves making decisions about who will be...
Superannuation – important and often overlooked
As we have previously discussed, estate planning is the process of digging down into your family, your assets, and your liabilities to ensure that there is a smooth transition of your wealth to your beneficiaries in a manner which reflects your wishes. While most...
Property ownership in estate planning
Do you own your property as joint tenants or as tenants in common? Depending on the answer to this question, the way your property is dealt with in your Will could be very different. Where two or more people own a property together, it will be generally held in...
Different people, different Wills – the most common types of Wills (Living Wills)
In Australia, there are several types of wills recognized under the various state and territory legislation. While the specific names and requirements may differ slightly between jurisdictions. No two people are the same and this is why there are different Wills...
Different people, different Wills – the most common types of Wills (Mirror Wills)
In Australia, there are several types of wills recognized under the various state and territory legislation. While the specific names and requirements may differ slightly between jurisdictions. No two people are the same and this is why there are different Wills...
Different people, different Wills – the most common types of Wills (Mutual Wills)
In Australia, there are several types of wills recognized under the various state and territory legislation. While the specific names and requirements may differ slightly between jurisdictions. No two people are the same and this is why there are different Wills...
Different people, different Wills – the most common types of Wills (Testamentary Trust Wills)
In Australia, there are several types of wills recognized under the various state and territory legislation. While the specific names and requirements may differ slightly between jurisdictions. No two people are the same and this is why there are different Wills...
Different people, different Wills – the most common types of Wills (Standard Wills)
In Australia, there are several types of wills recognized under the various state and territory legislation. While the specific names and requirements may differ slightly between jurisdictions. No two people are the same and this is why there are different Wills...
Specific conditions, limitation and instructions – Powers of Attorney
You can specify how you want your attorney(s) to carry out their responsibilities to you and any special conditions or limitations you want to apply to the decisions they make on your behalf. You can also include particular instructions about what you would like your...
The missing Aston Martin – gifts in Wills
We all have objects of sentimental value which we may want to leave to a loved one when we die. It would be a family heirloom, a piece of jewellery or maybe even that luxury car that you own. In your Will you can choose to make a specific “devise” of this property...
New Year, New You…or maybe a new Will?
2022 has come to an end and slowly the dust from the holiday wears off and we are back to normality and ready to face 2023. Did you make any resolutions for 2023? Maybe a family holiday, a new home or maybe a new job? Whatever they may be, we wish you every success...