Last night I had to do one of those business chores that just has to be done, but I hate it.
I’ll try not to bore you with too much detail, but basically it involves computer security stuff that is equal parts weird, scary, frustrating and boring.
Much of it makes no intuitive sense, and there are traps for the unwary everywhere. It feels like tap-dancing into a minefield. Wearing a blindfold.
Most Australians aren’t planning for their own long-term care. This is creating a major problem for the next generation, who still have their own kids to look after.
This mirrors what is happening in other western economies such as UK , Canada and USA.
Rising costs and fluctuating economic and health care are the new realities, so more than ever it is important to be proactive before a long-term event happens, to help ensure that you can still take care of your own needs, especially if you are caring for someone else’s well-being.
Another year has passed and 2018 is already here. The New Year is a time of optimism and noble resolutions to quit bad habits, get organised, pay off debt and save money. It’s a good time to take a look at your estate plan to make sure it is in place and up to date.
Your estate planning documents determine who will receive your property when you die, and also determine who has the right to make financial and major medical decisions during your lifetime. Getting your estate plan right will save money and heartbreak for you and your family.
Less than half of adult Australians have any estate planning documents in place and many of those people may have outdated documents. Documents that were created when you first got married or when your children were born may need updating years later, after your family and financial situation have changed entirely.
Making a Will is serious business. It sets out your final wishes, determines who benefits from your estate, and protects the people you love. Yet the historical record is full of testators who approached the exercise with, shall we say, considerable imagination. This article continues our popular series on extraordinary probate cases drawn from estate law history.
We offer these not merely for entertainment, but because each case teaches a valuable lesson about what can go wrong when an estate plan is ill-conceived, ambiguously expressed, or legally deficient.
If you’ve been named the executor of a Will, you might experience a wide range of emotions upon your loved one’s passing.
In addition to going through the grieving process, you might feel overwhelmed by your responsibilities in carrying out the deceased’s wishes.
You may have even heard horror stories about probate that leave you wondering where to begin, but you can relax knowing that your specialist estate lawyer at Genders & Partners can help you navigate any obstacles you face regarding probate & deceased estates in Adelaide.
Australian women’s life expectancy is now at its highest ever recorded, and is one of the highest in the world, according to recently released research from the Australian Bureau of Statistics.
The average life expectancy for females is now 84.6 years and for males it is 80.4 years, and these figures demonstrate huge gains in life expectancy over the last century since the Aged Pension was initially introduced in Australia in 1909 when the average life expectancy was below the eligibility age.
At that time it was anticipated that most people would not live long enough to receive the pension, and those that did would not get it for long.
Your loved one has entrusted you to administer their estate, and you probably feel overwhelmed with the burden of this responsibility in the midst of your grief. Depending on the size of the estate, your duties can become quite complicated, but the Adelaide Probate & Estate law specialists at Genders & Partners can guide you through the process to ensure that you carry out your responsibilities with a minimum of stress.
Locating the Will and Safeguarding Assets
As executor, your first job after the person’s death is to locate the original Will, which may be with the deceased’s important papers or held securely at a trustee company or lawyer’s office. If you do not have the original in hand right away, you can still work with a copy to familiarise yourself with the contents and make funeral arrangements according to the person’s wishes.
Modern family structures are more complex than at any previous time. Many Australians have children from more than one relationship, and may be in a subsequent marriage or domestic partnership with a partner who also has children of their own. Without careful estate planning, the competing interests of these various family members can produce outcomes upon your death that would cause you considerable distress if you could foresee them. This article explains why a well-drafted Will is indispensable for anyone with children from a previous relationship.
Deciding how you want to live out your last days is a touchy subject for most people, but if you don’t take the time to do so now, you and your loved ones could end up suffering needlessly. While you are still of sound mind, you need to determine whom you trust to make decisions about your lifestyle and medical care if you are ever incapacitated.
An expert Adelaide estate planning lawyer can document your end-of-life wishes with an Advance Care Directive to help you attain peace of mind about your future and get back to the business of living in the moment.
Failing to keep your estate planning documents safe can cause major complications, for you and your family.
In South Australia, the simple form of Probate, known as a Grant of Probate in Common Form requires production and surrender of the Last Will and Testament of the deceased. This means that the original signed document must be located as a matter of priority. Otherwise the executor may not be able to deal with the assets of the deceased.
If the original Will cannot be located, the situation may not be hopeless. A different form of Probate, called a Grant of Probate in Solemn Form, may be attempted with a draft or copy of the last known Will of the deceased.