How the family home can stay in an individual’s name for the purpose of the CGT main residence exemption yet the value can in someone else’s hands. It illustrates the pros and cons of asset divestment to the next generation during the lifetime of the senior generation and how it should and should not be done. Doris and David Day married in 1975 at the age of 30. Doris was born into a wealthy … [Read more...]
Two Lawyers and A Politician Were Drinking At A Bar: The Story of Public Service Super in SA
This story starts like all good stories – at the bar over a few drinks!. There were two lawyers and a politician at the bar – no seriously, there were! We were at the recent Telstra Business Awards ceremony of which Welden and Coluccio Lawyers were a South Australian finalist, and we got to discussing matters of estate planning with one of the state's leading politicians. In that discussion, … [Read more...]
Changes to Super SA Regulations: What this means and what you need to do about it?
Significant changes to the regulations governing the administration of Super SA were made late last month. As is often the case, tens of thousands of South Australians associated with the fund, remain oblivious to these changes, let alone equipped to understand what this means for themselves and their families. Read on for the inside scoop on what these changes mean and what you need to do about … [Read more...]
Top 10 Reasons Why You Need a Will
At some point in the future you will die. Death (along with taxes) remains one of the few things in life which you can predict. While this is hardly a revelation it is a truth that too many people ignore, especially when you remind them of the importance of having a Will and estate plan. In fact, the question, “have you got your Wills sorted?” is too often followed by a dismissive shrug and … [Read more...]
How to find an awesome Estate Lawyer (and what can happen if you don’t)
We see them a lot; Lawyers that is, advertising their cut-price Wills on brightly painted sandwich boards plonked on the footpaths of our suburban streets. There is an old saying that goes something like, ‘if something sounds too good to be true then it probably is.’ Where Wills are concerned you really do get what you pay for. In fact, the less you pay the more likely it is that you will be … [Read more...]
Wills Register: An Exciting Leap Forward
A question I get asked in almost every client meeting is whether there is any central registry for storing or locating Wills? The answer is no…well, sort of. Prior to the recent introduction of the Law Society of South Australia’s Will Register (a little more on that in a minute) there was no central registry to store or record the fact that someone has completed a Will in South … [Read more...]
How my Dog Made me Think About Wills and Funeral Arrangements
Our beloved Maltese terrier, Cooper, died a month ago. Despite the fact that he was an old man of 14 years, it was still a fairly traumatic experience for the whole family. Having made the difficult decision to euthanize him, we were next asked, “What would you like to do with his remains?” Not having experienced, discussed or even considered this before, we had little idea of the options … [Read more...]
“Help! I’m an Executor”
A close friend approached me last week concerned that she had been nominated executor in her grandmother’s Will, she was uncertain exactly as to what this would entail. It is a familiar scenario. Every day executors are nominated in Wills. Usually the nominated person is aware of this, sometimes they are not (in which case they are not alerted to this fact until the estate is enacted). … [Read more...]
Welden & Coluccio Lawyers Quoted in ‘The Australian Financial Review”
I’ve been ‘on about’ the dangers of DIY Wills for a long time, so it is awesome to have our hard work at Welden & Coluccio Lawyers acknowledged by a publication as esteemed as the Australian Financial Review. A week ago Jason and I were interviewed by a journalist from the AFR. In today’s edition of the publication, 3rd June 2015, we were quoted for our opinions relating to DIY Wills in … [Read more...]
A New Directive: Changes to Medical Decision Making After July 1
Most people are probably somewhat familiar with the role of Enduring Powers of Guardianship, Medical Powers of Attorney and, to a lesser extent, Anticipatory Directions. These various documents are the means by which an individual can express his or her medical wishes, future health care and other personal matters. There are subtle differences between each of the documents and determining which … [Read more...]
