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So you and your partner have decided that you would like to have children together. But what if one of you dies before you conceive? This is not a question that many couples trying to conceive ask themselves. Although not a common event, the questions surrounding posthumous in vitro fertilisation bear thinking about. Posthumous conception involves the conception of a child after one or more [...]
The concept of the “Bank of Mum and Dad” is one that has been frequently aired in the mainstream media in recent years. The practice of obtaining financial assistance from parents or relatives has assumed prominence because of the rapidly rising prices of real estate in Australia and a community perception that, without such assistance, younger people may be unable to secure a foothold in [...]
It is often the case when people remarry or when an adult child resides with their parents that there is a need to consider the continuing occupation of a new spouse or child following the passing of the owner of the family home. When the owner of property passes away, the beneficiaries of the will become entitled to the benefit of the property and the [...]
An Advance Care Directive is a written statement of your wishes for your future health care. It comes into effect only if you are incapable of making health care decisions for yourself or communicating your wishes. Why make an advance care directive? You may have already appointed an Enduring Guardian to make decisions about your personal care and to give formal consent to medical treatment [...]
The very recent case of Moore v Aubusson [2020] NSWSC 1466 illustrates the dangers of not making your testamentary plans clear and in writing during your lifetime. It was found that a verbal promise made by Ms Barbara Murphy (deceased) to her neighbours prior to her death substantially supplanted the contents of her Will. The promise resulted in the transfer of two properties on Louisa [...]
Generally, an unsuccessful party who commences or contests litigation generally pays the successful party's costs. When a claim is made against an estate there can be significant money expended which would otherwise flow to beneficiaries. When making wills or when administrating an estate every care should be taken to prevent estate assets being consumed in legal disputes. Recent decisions handed down by the Supreme Court [...]
What is a Succession Act Claim? A Succession Act Claim is a claim bought against a deceased person's estate pursuant to the Succession Act 2006 (the Act). They are claims initiated by eligible persons who feel they have been unfairly left out of, or inadequately provided for under, the will of a deceased person. The Act gives a Court the power to make a provision [...]
Most people are aware that when someone passes away their remaining assets, including money, real estate and personal property are distributed in accordance with their Will. However, many people do not understand what Probate is or when it is needed. A Grant of Probate authorises an executor to collect the deceased's assets, pay any outstanding debts and distribute the remaining assets to the beneficiaries under [...]
Estate planning is more than just making a simple Will. It is the process of working out the best structure for your personal and financial affairs during your lifetime. It also covers how your personal possessions and financial assets will be distributed after you die. A good estate plan will allow you to: Preserve your wealth during your lifetime. Generate wealth in a flexible and [...]
Many families with elderly relatives are reviewing the available aged care services and deciding to care for their parents or elderly relatives in their home. This can be a great solution for both parties. The homeowners often receive cash or assets in exchange for care and creating a dedicated area of their home. It’s a good solution for the elderly relatives because they receive care [...]
