Do I need to update my will after separation or divorce? Separating can be incredibly stressful and there are many things to think about such as a property settlement and parenting arrangements. It is also important to review and update your will and enduring documents. Here are some important reasons why: If you have recently …
Do I need to update my will after separation or divorce? Read More »
Superannuation death benefits can be substantial, and people often don’t realise that there is life insurance attached to their superannuation. When someone has not made a valid binding death benefit at the time of death, the superannuation fund decides how superannuation death benefits will be paid. They can decide to pay the death benefits either …
When a person dies, their superannuation does not automatically form part of their estate. Unless a person has nominated a beneficiary, then the superannuation fund can decide who to pay the superannuation death benefits to. Superannuation death benefits can only be paid to the person’s estate or dependants which includes: Superannuation funds have various types …
What happens to superannuation when someone dies? Read More »
In Queensland, for a will to meet the formal requirements of a valid will, the will must be in writing, signed by the will maker and the will maker’s signature must be witnessed by at least two witnesses. The Court has the power to declare a document that doesn’t meet the formal requirements to be …
When someone dies without a will they are said to have died ‘intestate’. In each jurisdiction in Australia, there are intestacy rules that stipulate how a person’s estate is to be divided if they die without a will. Here is a handy diagram showing how an estate would be distributed in accordance with the rules …
More than 50% of Australians don’t have a Will and more than half of those who do acknowledge it needs updating. Estate Planning in Australia Final Report, Charles Sturt University and The University of Adelaide (2017) This article explains some of the common reasons people put off making a Will and addresses some misconceptions …
The reasons estates are challenged are as wide-ranging as families and relationships are diverse. Commonly estate disputes involve blended families (i.e. second spouse or step-children), children that haven’t had a relationship with their parent for some time and children who have problems managing money. This article explains some of the most common types of estate claims including family provision applications, challenges to …
Choosing an executor is difficult and one of the most important decisions you will need to make when making a will. To put it simply, the role of an executor is to make funeral arrangements, obtain probate, collect in your assets, pay your debts and then distribute the estate to your beneficiaries. Sounds simple right? …
Probate is a document that is granted by the Supreme Court of Queensland to an executor. Executors appointed in a will can apply for probate to be granted to them. A grant of probate is the Court’s official recognition that the executor has a right to administer the estate in accordance with the will. One …
Liability limited by a scheme approved under Professional Standards Legislation.
