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.

Details
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.

Details
Genders and Partners

Wills and Estate Planning Adelaide: One More Hour … Baby Boomers, Pop Songs and Estate Planning

Genders and Partners I remember when I was young, the world had just begun, and I was happyi.

When I was younger, so much younger than todayii.

One more hour and my life will be throughiii.

Can you name the classic pop songs in which these timeless lyrics were sung? If so, then you’re probably at least as old as me, and you are a “Baby Boomer” (born between 1945 and 1965).

So what does this have to do with Estate Planning? Well quite a few things, really.

If we’re old enough to remember when these songs first made an impact on popular culture, then we’re at an age when we need to confront some harsh realities about our continued existence.

Details
dealing with chronic illness and planning your estate

Dealing with Chronic Illness and Planning Your Estate

dealing with chronic illness and planning your estate

Estate planning requires some tough conversations and occasionally involves thinking about worst-case scenarios for you or your loved ones.

That’s why a lot of people treat it like the dentist, something that they know they ought to do but they keep putting it off.

Planning your estate and the more difficult aspects that come with it can be made even harder by dealing with a chronic illness, whether it’s your own or your spouse’s.

Details
socially distanced execution of estate planning documents in south australia hero

Socially Distanced Execution of Estate Planning Documents in South Australia

socially distanced execution of estate planning documents in south australia hero

During these unique and unprecedented times, we at Genders and Partners are still working hard to help our clients and their families create and update their estate plans efficiently, while also focusing on keeping everyone safe through social distancing practices.

We take very seriously the need to protect you and our staff.

As part of a client’s estate plan signings, we review all documents that our clients will be signing in-depth with them and discuss their overall plan before any documents are signed.

Details
coronavirus legal advice get your estate plan in order now hero

Coronavirus Legal Advice: Get Your Estate Plan in Order Now

coronavirus legal advice get your estate plan in order now hero

Estate planning lawyers are getting mobbed with questions. So, here is some timely advice on what families should be doing to prepare in case the unimaginable happens.

The economy and job market has recently been in a free fall. The world has not experienced this level of fear since the days of the polio epidemic in the 1940s and 1950s.

Details
whats your excuse

What’s Your Excuse?

whats your excuse

I get it. I’m not a kid any more, and I’m supposed to be grown-up and ‘responsible’. It’s time to “put my affairs in order”.

Thinking about making a Will just isn’t fun. No-one wants to confront their own mortality. And talking to a lawyer is boring – and expensive – right?

Plus I’d have to take time-off work to drive across town to the lawyer’s office. Finding a carpark is always a pain.

Details
COVID-19 Information

COVID-19 Information

COVID-19 Information

The offices of Genders and Partners remain open, and we continue to monitor the COVID-19 outbreak closely as it evolves.

We receive frequent briefings and alerts from the Law Society of South Australia, the Law Council of Australia and the international Society of Trust and Estate Practitioners.

The South Australian and Federal Governments, as well as the World Health Organisation, are providing ongoing directions on the temporary closure of non-essential activities and businesses to help slow the spread of COVID-19.

Details
The 7 Deadly Sins of DIY Wills

The 7 Deadly Sins of DIY Wills

The 7 Deadly Sins of DIY Wills

Trying to DIY the most important legal document in your life is a bad idea. This is a specialised area 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.

Here are 7 of the most common errors people make with DIY Wills:

  1. No Advice. While DIY Will-kits and online services might provide you with a document that looks like a Will, appearances can be deceptive.       What you are paying a lawyer for is the advice they provide you along with the Will. It is illegal for anyone other than a licensed lawyer to provide legal advice for a fee, whether that means answering questions or making planning suggestions for how to accomplish goals. So the companies that offer DIY Wills or kits or online documents are always careful to tell you that they are not giving you legal advice, and they ALWAYS recommend that you consult a lawyer if you have questions.
  2. Details