1)What is a Will? A Will is a legal document that outlines how you want your estate to be distributed when you die. Wills are not just for people who own property or have lots of money. We all need a will. Having one allows you to: appoint a person you trust to carry out the instructions in your will (your executor) provide for the people you care about leave particular items to … [Read more...]
WHAT RIGHTS DOES A STEP-CHILD HAVE TO YOUR ESTATE?
Scenario: Mrs Smith married Mr Smith who had two children from a former marriage. Mrs Smith had no natural children of her own. Mr Smith predeceased Mrs Smith with Mrs Smith dying several years later. Are the children of Mr Smith entitled to make a claim against the estate of the Mrs Smith? The children of Mr Smith became the legal step-children of Mrs Smith at the time of the … [Read more...]
Estate Planning Series: Part 1 “Not Just for the Rich”
There is a common misconception that estate planning is just something that wealthy people need to do. Wrong. While anyone with a lot of assets and capital behind them certainly needs a comprehensive estate plan, it is also important that ordinary Australians have one too. “But I’m not worth much dead.” I hear you say. On the surface this may be seem to be the case. However, if you have … [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...]
