Beneficiaries’ right to information
Savina YangJuly 30th, 2015
In my last article, I set out the main players in a commonly drafted will – testator, beneficiary(ies), executor and trustee. Now, imagine you are a beneficiary under a will who has been bequeathed $500,000 after the estate has settled all of its outstanding liabilities and debts. In order to ensure that the trustee has […]
Co-owners, joint tenants and tenants in common
Natalee VenegasJuly 30th, 2015
The average Australian family is no longer ‘average’. Today it is typical for families to come in all shapes and sizes including de-facto and blended families. That’s why it is especially important to give thought to who your assets may go to in the event of death. When two or more people purchase a house […]
What’s in your life-planning toolkit?
Bianca BarryMay 27th, 2015
No-one likes to think about the possibility of losing the capacity to make decisions. However, there are a few legal documents you really should be thinking about if you want to safeguard your wishes, make them known to your family members and, hopefully, prevent conflict. In our view, the following documents should be in your […]
Wills and estates – who’s who in the zoo?
Savina YangApril 23rd, 2015
Did you know, in 1968 Eleanor E. Ritchey, the heir to the Quaker State Refining Corporation, left $4.5million to her dogs? All 150 of them. As her family contested the will, the value of her fortune grew to $14million. By the time the dispute was over, the dogs received $9 million. When the last dog […]
What happens on the death of a joint bank account holder?
Bianca BarryMarch 17th, 2015
The answer to this question depends on how funds were accessed when both account holders were alive. One or two signatures? Banking institutions have different rules when it comes to account holders accessing jointly held funds. Some bank accounts require the signature of both account holders to withdraw funds, but many do not. Often the […]
Your role as an executor – simplified
Georgia Kate MorganApril 30th, 2014
It is common for those appointed as executors to deceased estates to feel stressed and overwhelmed with the role they are to play. Losing a loved one is hard enough, so we have prepared a breakdown of the general functions of an executor to help make it simpler for you if you find yourself in […]