Tag Archives: Estate

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...

Superannuation and your estate planning

Did you know that your superannuation does not necessarily form part of your estate when you die? This can cause problems unless it is properly dealt with as part of your Estate Planning. Your superannuation will not be dealt with in accordance with your wishes unless you have a valid and...

What is a power of attorney?

GRANTING A POWER OF ATTORNEY The Powers of Attorney Act 2003 (NSW) provides for a person to appoint another person as their attorney to make financial and contractual decisions on their behalf. The document granting a power of attorney is a prescribed form under the Act. A general power of attorney does not require a...

What does an enduring guardian do?

An enduring guardian is a person appointed to make decisions about your health and lifestyle for periods in which you are incapable of making such decisions for yourself (for example if you have dementia, are in a coma, are unconscious following a car accident or suffer from some other mental...