Modern medicine is helping us live longer life spans than ever before, but a good portion of the ageing population needs assistance from family members or other caregivers as time goes on. This dependency, coupled with the older person’s declining physical or mental state, unfortunately creates favourable conditions for a caregiver to manipulate the estate planning process for his or her own benefit. This is called undue influence, and when you consult with Genders & Partners for Wills & estate planning in Adelaide, we will do everything in our power to protect you from those who do not have your best interests at heart.
It’s a great feeling to finally complete your estate plan and know that you, your family and your assets are protected. After completing this important and necessary task with the help of your Wills & estate planning lawyer in Adelaide, you can get on with enjoying your life rather than contemplating your mortality. However, there’s one more step you need to take to ensure that your beneficiaries receive what is rightfully theirs without any hassle: You must properly store the original Will and inform the right people of its location. This simple task ensures that when the time comes, your executors can get to work doing their job of carrying out your wishes as quickly and efficiently as possible.
Several times each week, my phone rings, and someone asks me the question: “How much do you charge to make a simple Will?”
I always answer honestly, and provide as much detail as I am able. I try to ask some questions to inform my understanding of their situation. Some people resist this type of discussion – they think they know what they want, and now are simply shopping on price.
I can’t help those people. They don’t want what I have to offer. They aren’t looking for sensible, practical advice. They aren’t interested in education. They refuse to consider the possibility that they are not asking the right questions. Their minds are closed.
It’s as if they have diagnosed their own illness, and written their own prescription. They don’t want a doctor to ask them questions or form an independent assessment of their needs. They just want the pharmacist to fill the prescription with a minimum of fuss and expense.
Best of luck to them, and to their families. I think they’ll need it.
Growing numbers of pet owners in Adelaide are including their pets in their Wills through trusts or other means, according to a senior lawyer specialising in estate planning and Wills in Adelaide.
Rod Genders from Genders and Partners, the oldest law firm in South Australia, says that state law does not permit animals to be direct beneficiaries of a Will, as the law regards the animals themselves as property. However, caring pet owners can leave money for their pets in pet trusts with provisions for how it is to be spent on the pet.
As our population ages and fewer couples have children, there has been an attitude shift where many people have come to view their animals less as pets and more as members of the family. For this reason, many people intend to make sure that the future of their beloved pet is already taken-care-of through pet trusts.
How to Include Your Pets in Your Will?
A pet trust is a fund left for an animal’s care when its owner dies. A guardian of the owner’s choice can access the fund, and pet owners can also assign trustees to hold the money and monitor the guardian’s spending.
Rod Genders says that most of his pet-trust clients will leave about $1,000 for veterinary bills and food per year per pet, but it varies according to the pet’s age, health and specific requirements.