The purchase of real estate is nearly always a significant event in a person’s life. During this time, the buyer will be asking some very serious practical questions such a; can I afford a mortgage? What will the repayments be? How is my life about to change? As lawyers, we find that there is one very important question which often gets overlooked by prospective buyers: How do I own the real … [Read more...]
Estate Planning Series: Part 3 “Dealing with Non-Estate Assets”
With many ‘average Australians’ having assets which are ‘non-estate’ assets, it is crucial that these individuals develop strategies (ie an estate plan), to ensure that the control of these assets is passed to your loved ones upon your death. In part 2 of the Estate Planning series I identified some situations where assets may be non-estate. In this article I will explore some general … [Read more...]
What Happens to my Home when I Die?
The ‘Great Australian Dream’ is well and truly alive with nearly 70 percent of Aussies living in a home they own outright or have mortgaged. With the family home being the largest asset that most of us will ever own, it is important to understand that the way this asset is registered can have implications for what forms part of your estate when you die. “But it is my house, I paid the … [Read more...]
