Articles | Genders and Partners

Why DIY Wills aren’t 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 You’re Gone

After 37 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

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

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

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 (just in the last 6 months!)

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?

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

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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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.

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Socially Distanced Execution of Estate Planning Documents in South Australia

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.

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