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FAQ on Estate Planning
While many people are unlikely to nominate estate planning (Thinking about what will happen to my assets when I die) as being on their “most wanted” things to do, this is something that should be on all our “must do” lists. Proactively planning for how you would like...
Is a testamentary trust right for you?
One of the loving things you can do for your family is to make plans for what happens after you die. This is particularly important if you have children or vulnerable adults who depend on you financially. A testamentary trust might be the right tool to help you look...
Do you need a lawyer to make a Will?
You can create a Will without a lawyer. You can do this by using online resources or DIY kits. However, there are several drawbacks of this approach. A Will is a critical legal document, and errors or omissions can have significant consequences for your loved ones....
What are Letters of Administration?
Dealing with the loss of a loved one is never easy, and the added burden of managing the estate can be overwhelming. This is particularly true when someone dies without leaving a Will, a situation known as dying "intestate”. In such cases, a court can grant "letters...
Succession Arrangements for Family Companies
Family businesses are the backbone of Australia's economy, contributing over 70% of the nation's GDP and employing a significant portion of the workforce. However, their long-term success can be fragile, with only a fraction operated by the third generation....
Deceased Estates – What Happens When Executors Don’t Agree
When someone dies, their assets are usually distributed according to their will. The person responsible for managing and distributing these assets is the “executor” of the deceased estate. In some cases, a will appoints more than one person to act as executor, and...
Choosing a Business Structure
There are 4 main types of business structures for doing business in Australia, each with their own advantages and disadvantages. In simple terms, a business can be operated by a sole trader, through partnership, by a trust or a company. The business structure is an...
Will Contests and Estate Disputes – an Overview
In Australia, there are legal avenues available to individuals who wish to contest a will or challenge the distribution of an estate. Although regrettable, such disputes are often unavoidable and sometimes essential to ensure fair outcomes. Understanding these legal...
Top 7 Questions about Family Provision Claims in WA
After someone dies, it is natural to wonder what will happen to that person’s property. It is also common for family members to feel that they have unfairly missed out on an inheritance or will receive less than they anticipated. If you believe you have not been left...
Common misconceptions about estate planning
An estate plan involves more than signing a Will and leaving it in a safe place. An effective estate plan requires consideration of several matters and ongoing review to ensure it reflects your testamentary wishes and covers unexpected events. In this article we look...