Changing your mind about your enduring power of attorney

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Has the relationship with your attorney tarnished? An Enduring Power of Attorney (POA) is a significant legal document necessary for empowering an ‘attorney’ to make decisions on your behalf. These decisions can be related, in some States just to financial issues, superannuation and asset management and in others extending to residence, health services and more.... Read more continue reading

When you have seen one blended family – you’ve seen one blended family

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Many lawyers talk about ‘blended families’ as if they are all pretty much the same. Like, if you’ve seen one, you’ve seen them all.  But that is not the case at all. There’s the classic style of blended family where two persons (who may be widows/widowers and/or divorcees) come together bringing with them one or... Read more continue reading

Getting your estate documents together

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Jonathan See of Townsends Business & Corporate Lawyers recently published an article on ‘Preparing for the Inevitable: Getting your estate documents together‘.  Below is an excerpt, the suggested list of documents clients can provide to Executor/s as part of their estate planning activities. 1. Make sure you have (or know where) your originally executed Last... Read more continue reading

CPD: Togetherness drives us apart – rethinking estate planning in a COVID 19 world

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COVID 19 has certainly brought families together. Massive job losses, mandatory working from home, and ongoing lockdowns and border closures mean Australians are spending more time together – and at home – than ever before. The composition of those households is also being reshaped across the country, as an estimated 300,000 adult children move back... Read more continue reading

New testamentary trust law

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New law closes loophole on Favourable Tax Treatment of Income from Testamentary Trusts. Testamentary trusts are trusts created by the testator under the will to be established upon the death of the testator. These trusts provide benefits such as asset protection (i.e. to protect a beneficiary who is prone to potential liabilities and matrimonial disputes)... Read more continue reading

Why every property investor needs a Testamentary Trust Will

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Whether you just own your own home, or you have an expansive investment property portfolio, you need to have a Testamentary Trust Will. A Testamentary Trust Will is simply a Will that contains one or more special trusts that act very much like a discretionary family trust that is only set up after you die.... Read more continue reading

Overcoming Asian reluctance to estate planning

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Migrants or permanent residents in Australia who have backgrounds from Asia are often very averse to discussing estate planning.  There are a number of time-honoured cultural reasons for that, but Jonathan See looks at whether they are still relevant. Chang and his wife, Ming, migrated from China to Australia in 1975 with little money in... Read more continue reading

Power of attorney appointment does not license early access to inheritance

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Understanding your responsibilities if you have a power of attorney appointment for your parents is as much about ethical as well as legal responsibilities, Australia’s leading trustee company, Equity Trustees, has cautioned. Being appointed an attorney under an enduring power of attorney authorises you to make important legal and financial decisions when someone loses capacity... Read more continue reading

Do you have the Will to cope with the ‘roaring 20s’?

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Not just a new year, but a new decade has arrived – the new ‘roaring 20s’ – but can your Will cope with the decade ahead? “If you think about all the things that changed for you and your family over the past decade, you quickly see that your world could look very different by... Read more continue reading

They will sort it out when I’m gone (and other flawed estate planning assumptions)

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It’s a common assumption fraught with danger: Many people appoint one of their children to be the executor of their will – expecting (or hoping) that everything will be resolved after they’re gone. “It’s a very common way to think,” said Marie Brownell, National Manager of Estate Planning at Equity Trustees. “But there are two... Read more continue reading