pitfalls for diy executors of deceased estates

Pitfalls for DIY Executors of Deceased Estates

pitfalls for diy executors of deceased estates

Some misinformed people choose to believe that administering a deceased estate is simple and easy, and therefore they think that they can save the estate some money by doing it themselves, without a specialist lawyer to assist them.

Those people don’t realise that for the executor of the Will of a deceased person in South Australia, DIY means taking all the risk upon themselves for no reward.

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why diy wills arent for winners

Why DIY Wills aren’t for winners

why diy wills arent for winners

Why?  Because he was a busy person who preferred to have it done for him, and he believed (justifiably) that the chef in the kitchen had access to professional carving knives that would make sharper cleaner cuts than Elvis could achieve for himself.

The ‘King’ recognised the efficiency of employing a specialist to do something better than he could do for himself.

You remember the famous words “Give a man a fish and you feed him for a day, teach a man to fish and you feed him for life!”

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7 signs that your family will fight over your estate after youre gone

7 Signs That Your Family Will Fight Over Your Estate After You’re Gone

7 signs that your family will fight over your estate after youre gone

After 34 years in legal practice, there isn’t much that still surprises Rod Genders.

He’s pretty much seen it all.

His law firm is the oldest in South Australia – established in 1848 – and like his father and his grandfather before him, Genders has spent his entire working life in the law, helping generations of Australian families to sort out a multitude of legal issues.

His areas of expertise are Wills and estates, and he describes witnessing a massive increase in litigation in these areas.

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Co Vid Vax Vex

Co Vid Vax Vex

Co Vid Vax Vex

Australia has committed to a national COVID vaccination program – described as the largest peacetime operation in Australia.

Australia’s federal industrial relations minister Christian Porter has reportedly told employers the government will not mandate vaccines in workplaces.

That means making the legality of workplace vaccination policies more “black-and-white” will need to come from the state and territory governments, using their regulatory powers under their work health and safety acts.

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7 myths about powers of attorney

7 Myths About Powers of Attorney

7 myths about powers of attorney

By signing a Power of Attorney you do NOT lose control over your affairs while you are able to manage them.

As long as you retain your capacity, you can always vary or revoke your own power of attorney, and you can place limitations on your agent which vary according to your requirements.

Most people execute an unrestricted Enduring Power of Attorney.

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7 financial things retirees need to know about estate planning

7 Financial Things Retirees Need To Know About Estate Planning

7 financial things retirees need to know about estate planning

COVID has been scary and frustrating for most of us, and the future remains uncertain.

But if you were looking for a silver lining in all this, I can maybe offer two observations:

1. People have had to learn how to connect digitally a lot more efficiently, so we are all a lot more familiar with zoom meetings now.

This will hopefully mean that we stay connected a bit better from now on, no matter how busy the world gets again.

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errors i have seen in diy wills

Errors I have seen in DIY Wills (just in the last 6 months!)

errors i have seen in diy wills

I’ve been trying to educate people for years that trying to DIY the most important legal document in your life is a really bad idea.

Wills and estates are specialised areas of law, and when you don’t know what you’re doing, it is very easy to make critical errors trying to do this yourself.

Any mistakes you make won’t become apparent until you die, and it’s too late for you to fix them, so it will be your family who has the stress and cost of dealing with it all.

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what sort of parachute do you want

What sort of parachute do you want?

what sort of parachute do you want

I did a test today, and researched the cost of buying a parachute.

The prices varied between $200 for a used army surplus item, through to $10,000 for a brand new high performance competition model.

In between I found a few reputable Australian manufacturers with decades of specialist experience, quality assurance, compliance with safety certification, and transparent in-depth information about the company and their staff and processes on their website.

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what you need to know about superannuation death benefits

What you need to know about superannuation death benefits

what you need to know about superannuation death benefits

Superannuation has grown to become the largest or second-largest asset for the majority of Australians.

The combined total of superannuation accounts in Australia means that this country has the third largest pension fund assets in the world (behind only USA and UK with their much larger populations).

It is a surprise to most Australians to learn that their retirement savings are held in trust, and a shock for them to discover that the terms of that trust frequently reserves discretionary powers to the trustee(s) of that trust.

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did you know youre a yoyo

Wills and Estate Planning Adelaide: Did You Know You’re A YOYO?

did you know youre a yoyo

YOYO stands for You’re On Your Own, and it has never been truer for Australian retirees.

In the 1980’s when Bob Hawke and Paul Keating changed government policy to encourage us all to save enough money for our eventual retirement, we did so with an expectation of mastering our own destiny to enjoy a wonderful and carefree retirement.

The idea was to reduce the dependence upon government funds for the old-age pension.

There has been a tremendous change in the social culture of Australia in the 40 years or so since superannuation commenced.

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