Probate is a grant made by the Supreme Court of New South Wales that ‘proves’ the Will of a deceased person and vests title to the estate’s assets in the named executor/s. This is the official process that enables the executor to legally deal with the deceased’s estate. As the legal personal representative of the […]
The perils of not making a Will
What do Michael Jackson, Abraham Lincoln, Picasso, Jimi Hendrix, Stieg Larsson and Robert Homes a Court all have in common? You would be forgiven for thinking, not much. But in fact they do—all six died intestate which means, they died without leaving a Will. Even the rich and famous can fail to plan ahead when […]
The Risks of Going Guarantor
Has a family member asked you to provide a guarantee for their home loan or personal loan? If so, you need to be clear about your obligations under a contract of guarantee. What is a guarantee? If a lender is concerned about a borrower’s capacity to repay a loan or has classified the borrower […]
Dealing with deceased estates – Executor duties
After a person dies someone has to look after the assets of that person and pay the person’s debts. Although the person is no longer here, his or her affairs must be finalised and the person to finalise the affairs is appointed by the Will of the deceased. Where a person is appointed by a […]
Buying a property at auction; Things you need to know BEFORE the auction day
Buying a property can often be an intimidating process, especially at auction where you are competing with other buyers and there is no cooling off period. Many properties are sold at auction, particularly in a rising market, so it is important for buyers to understand the processes involved so they can bid confidently on […]
Testamentary Trusts
Testamentary trusts can be very effective estate planning tools to assist in providing for spouses, children and grandchildren, and are becoming increasingly popular as more people become aware of their advantages. A Testamentary Trust is any trust established under a will, but the term is usually used in the context of a discretionary family trust […]
Superannuation splitting laws – things you need to know
When a marriage or de facto relationship breaks down property can be divided between the parties. Superannuation is treated as property under the Family Law Act and as such can be adjusted, transferred or divided between parties when a relationship breaks down. Although it should be noted that de facto couples in Western Australia are not subject to […]
E-conveyancing the way of the future
For the past 150 years when completing a property settlement it has been necessary for lawyers and banks to meet up to check and swap documents and bank cheques. The party that ended up with the documents then had to lodge them at the Land Registry and notify government authorities about the transaction. Many of […]
Enduring Powers of Attorney explained
A lot of people have heard of a Power of Attorney however most do not fully appreciate the extent of its power, the benefits it delivers or the types of Powers of Attorney that exist. A Power of Attorney is a useful legal document used to allow someone to handle your affairs in a variety […]