If you are concerned about the validity of a Will, filing a Caveat with the Court can reduce the chances of Probate being granted before your concerns are dealt with. There are three main categories of Caveats, as the RMB Lawyers Wills & Estates & Disputed Wills division explains
News & Articles | Estate Planning
It is important that you take care of your Will once it has been made. As the RMB Lawyers Wills & Estates & Disputed Wills division explains, failure to do so can lead to issues when it comes to the administration of your estate.
Disputes between executors of a Will and beneficiaries are uncommon, but they sadly can arise. The RMB Lawyers Wills & Estates & Disputed Wills division explains the steps to remove an executor.
Constructive trusts refer to relief which Courts grant through imposition of a “trust” over property to prevent a person (usually the owner) from retaining the full benefit, typically in circumstances where another person has made financial or non-financial contributions toward the property. The RMB Lawyers Wills & Estates & Disputed Wills explains.
Broadly speaking, a valid Will is one that is in writing, signed by the Will-maker in the presence of two witnesses who have also signed the document. The RMB Wills and Estates Division answers some common questions.
Parents of a child or children with a disability are naturally concerned about how their child be cared for after they pass. As PATTRICK GETTRUST from RMB Lawyers explains, two kinds of Protective Trusts can provide peace of mind.
Executors of estates, particularly those who are not direct beneficiaries of the estate, can now apply for a commission for their work. The RMB Wills and Estates Division explains.
When you make a Will, you will choose someone to be yourexecutor – the person in charge of distributing your estate to the correct beneficiaries after you pass away. RMB Wills and Estates Division explains what you should consider when deciding on who you want as your Executor.
While an estate’s executor is the person most involved in an estate’s administration, this does not mean they can leave the people who stand to benefit from the estate assets(beneficiaries) in the dark throughout this process. RMB Wills and Estates Division explains:
Trusts, including family trusts and unit trusts, are useful mechanisms to provide asset protection both throughout life and in estate planning, and also allow greater flexibility in tax planning. However, as RMB Lawyers Wills & Estates & Disputed Wills Division explains, it pays to understand the nature of perpetual succession:
Caring for a child with a disability is an incredibly challenging for parents who continue to provide ongoing care for their child into adulthood. RMB Estate Planning lawyer Division explains the value of Special Disability Trusts:
A voice recording on an iPhone can be classed as a Will under certain circumstances, our Wills & Estates Division explains.
When it comes to making a decision about appointing an Enduring Guardian to look after you when you lose capacity either through old age or ill health (or both), the clear message is: don’t leave it until it is too late.
Even if you have never met your biological parent, you may still be able to make a claim on their estate. The RMB Lawyers Estate Planning division explains.
The RMB Wills and Estate division explains the tax implications for executors of estates, who may be under pressure to finalise distributions to beneficiaries:
If you have been appointed executor of a Will of a loved one who has passed away, the RMB Wills and Estates division has some important advice:
Making sure you have a valid and up-to-date Will doesn’t only ensure your estate is distributed according to your wishes when you die. As the RMB Wills and Estates division writes, it is also a service to your loved ones.
You should consider a binding death benefit nomination if you have a self-managed superannuation fund, to ensure your assets are distributed as you wish after your death. The RMB Estate Planning division explains.
Being involved in the administration of an estate when a loved one passes can be a daunting process, but knowing the terms and responsibilities is a good place to start. EMMA Perkins from RMB Lawyers explains:
Being asked to become an executor of an Estate carries many responsibilities, the RMB Estate Planning explains.
Preparing a “bullet-proof” Will can be complicated, particularly if we do not wish to provide for a particular person.
Everyone should have a current will, but it can be particularly important for people going through divorce or separation.
Testamentary Trust Wills allow your estate to be administered in a tax effective manner for your beneficiaries. Ssuch Wills can also protect inheritances from creditors or relationship breakdowns.
A Special Disability Trust is a trust established either by Deed or by Will. For the purposes of this information we are discussing a Special Disability Trust established by a Will. It is a trust established for the benefit of one person whom suffers from an impairment or a disability. In general terms the trust is designed to provide a source of income whilst not adversely affecting an individual's entitlements to a disability pension.
Some common sense tips on Why are Binding Death Benefit Nominations so difficult?