Tag Archives: deceased

What is an agreement to make Mutual Wills?

An Agreement to Make Mutual Wills is an agreement between 2 parties (usually a husband and wife, but can be a same sex couple or a de facto couple) to make Wills in an agreed form. Usually, they provide that the parties may not act such that those Wills don’t get given effect to,...

Do you have an estate plan?

Do you even have an estate plan? Don’t know what one is? There are at least 3 documents you should consider as part of your personal estate planning: A will; A power of attorney; and Appointing an enduring guardian. A WILL A Will is a legal document that details who will take care of...

Buy/Sell Deeds explained

WHY HAVE A BUY/SELL DEED? A Buy/Sell Deed is an agreement between the owners of a company or unit trust that upon the death or permanent disablement of a director or key person associated with a shareholder/unitholder, that shareholder/unitholder must transfer its shares to the remaining shareholders in exchange for...

So what actually is Probate?

WHAT IS PROBATE? Probate is the process of proving that a document is a deceased person’s last Will. The named executor is responsible for obtaining Probate (if it is required) and in administering the deceased person’s estate as required by the Will. If the named executor is unwilling or unable...

Wills with testamentary trusts – why you need one

WHAT IS A TESTAMENTARY TRUST? A Testamentary Trust is simply a trust established by a person’s Will.  As opposed to more “simple” Wills, where beneficiaries receive the benefit of any gift personally, with a Testamentary Trust, the beneficiaries receive the benefit of the gift but rather than having it legally owned by them...