Why do I need a Will
To ensure that your assets are dealt with as you wish on your death. You can leave your assets to anyone, however you do need to make adequate provision for your spouse and/or children. Failure to do so can leave the estate open to a claim under the Succession Act, which means the estate will have to pay to defend any such claim.
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Planning ahead for Personal, Health and Lifestyle Decisions Part 2
It is possible to appoint more than one enduring guardian. There are now a number of ways that this can be done. You can appoint enduring guardians to act jointly (the enduring guardians must agree on all decisions), severally (each enduring guardian can make decisions separately from the others), or jointly and severally (the enduring guardians can act together or separately).
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Planning ahead for Personal, Health and Lifestyle Decisions Part 1
An enduring guardian is someone you appoint, at a time when you have capacity, to make personal, health or lifestyle decisions on your behalf should you lose the capacity to make them for yourself. The appointment of an enduring guardian takes effect only if you lose the capacity to make your own decisions. You can appoint more than one enduring guardian if you wish.
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Legislative Changes for Defacto Partners
Following legislative changes, de facto partners who separated after 1st March 2009 will be able to resolve their property issues under the Family Law Act.
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Duties of an Executor
To ensure that your assets are dealt with as you wish on your death. You can leave your assets to anyone, however you do need to make adequate provision for your spouse and/or children. Failure to do so can leave the estate open to a claim under the Succession Act, which means the estate will have to pay to defend any such claim.
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Duties of a Trustee
Upon acceptance of her or his office, a trustee becomes subject to the duties of that office. Duties are imperative. They compel or prohibit a trustee from acting in a certain way. A trustee’s duties reflect the fiduciary relationship which he or she owes to the beneficiaries, and the trustee’s corresponding obligation to act in the best interests of the beneficiaries.
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Binding Financial Ageements including Prenuptial Agreements
A Binding Financial Agreement (BFA) can be made before a marriage, during a marriage or after a marriage. Generally, the agreements set out how a couple’s property and financial resources are to be divided in the event of the breakdown of the marriage and the financial maintenance of either of them during the marriage and/or after the marriage.
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