It still surprises me that clients seem to forget to mention “their bank account in the US” or “their parent’s house they inherited in the UK”, even when asked during an appointment. Hot tip – don’t forget to mention to your solicitor any overseas assets you own outside of Australia when considering your estate plan.
There is no doubt that a lot of people have jumped on the “get rich quick” band wagon when it comes to the likes of bitcoin and other cryptocurrencies. For some it has brought great wealth. However, the reality is that cryptocurrency is presently unregulated meaning that it is not backed by any governments or
The judgment handed down last week by the Supreme Court of Queensland in Re Nichol is a profound reminder of the importance of ensuring your Will meets the legal requirements and is executed properly. In Re Nichol, a draft text message left by the deceased on his mobile phone before committing suicide was considered a
According to Benjamin Franklin, “In this world nothing can be certain, except death and taxes”. As we all know, there is certainty in the paying of tax, but in the case of death, there seems to be a common misconception that if you don’t have a Will, everything sorts itself out. Wrong. Everything does not
I prepare Wills on a weekly basis. Once a client’s Will is finalised, I will forward it to them along with signing instructions, should the client wish to sign their Will independently. If this is an option they chose, I follow up and reiterate that they must follow the signing instructions. Unfortunately, I have many
A lot of clients look at me with confusion when I suggest a testamentary trust for them. I immediately receive questions like: What is it? How does it work? Do I need one? I have answered some of the general questions I receive below, to give you a snap shot of what testamentary trusts are,
There seems to be a common misconception that having an estate plan is for wealthy people. Wrong. Having an estate plan is for everyone. It is about being prepared, minimising risk and making sure your loved ones receive the benefit of your estate. Today, there are many factors which influence an estate plan. Simply having
In Queensland, for the purposes of making an application for further provision from an estate, a child is eligible. However, the definition of ‘child’ is three fold. Effectively, a child of a deceased includes: A natural child; An adopted child; or A step-child. Who are natural children? Under section 40 of the Succession Act 1981
Although unfortunate, it is common that parent and child are unable to forge out their issues. However, the result in some circumstances means their relationship is marred by estrangement. Estrangement between a deceased and a child seems to be a recurring issue that is raised with me by clients involved in a family provision claim.
When you pass away without a will (valid will), you are deemed to have died intestate. This means that your estate will be administered and distributed according to legislation. The benefit of having a will is that you can appoint an executor to administer your estate and dictate how you wish for your estate to