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Wills and Estate Planning Adelaide: Complications in Estate Planning Following Remarriage

Estate Planning, Wills, Wills and Estate Planning
Complications in Estate Planning Following Remarriage

Estate planning following remarriage after being widowed or divorced is complicated by a number of factors, including differences in asset-ownership between the parties, one or both of them having children by an earlier relationship requiring provision/protection, disparity in ages, and concerns about the financial effects of a relationship breakdown (once bitten, twice shy).

Joint ownership of assets, and Family Law considerations of “Community Property” can give a surviving spouse certain property rights which can cause problems for the children from prior marriages.

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Wills and Estate Planning Adelaide: The Right to Choose – Live or Die

Catastrophic Injuries, Death Benefits, Estate Planning, Pensions and Retirement Planning, Planning for Disability and Incapacity, Probate & Estate Administration, Wills
The Right to Choose – Live or Die

Do you have strong feelings about what should happen at the end of your life?

You are not alone.

Around Australia in the last 15 years there have been several legislative attempts to create a framework for assisted suicide and voluntary euthanasia, and there have recently been Bills before the parliaments in both South Australia and Western Australia upon this issue.

In 1995, the Northern Territory of Australia became the first place in the world to pass right to die legislation. The Rights of the Terminally Ill Act lasted 9 months before being overturned by the Australian Federal Parliament. At present, voluntary euthanasia and assisted suicide are illegal in all states and territories of Australia; however the pressure is growing for change.

There are already places in Europe and in the USA where the laws permit degrees of voluntary euthanasia.

Of course this is a sensitive and controversial topic, provoking extreme reactions among people.  It touches upon some of the same issues as Capital Punishment and Abortion.

For some, the sanctity of human life is paramount, and for them religious beliefs prevent any suggestion of termination of life.  This group might be called the “Right to Life” group.

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Wills and Estate Planning Adelaide: 10 More Reasons to Make a Will in Adelaide

Wills, Wills and Estate Planning
10 More Reasons to Make a Will in Adelaide

If you die without a Will, you are deemed to have died “intestate” and your estate will have to be administered at Court in accordance with an inflexible statutory formula which will determine where your estate will go. This can result in unintended results for some people, perhaps contrary to what they would have wanted.

Many people believe that if they are married and they die without a Will, all their property will automatically go to their surviving spouse. That is frequently NOT the case in Australia.

If you are married, all jointly-owned property will pass by right of survivorship to your spouse.  Matrimonial property (essentially property acquired during the marriage) will also generally go to your spouse.

However, if you also have one or more children, state law will provide a formula which will direct the share of the separate property (property acquired before marriage or inherited during the marriage) which will go to each of them. This can be an unintended result if the estate is modest and your surviving spouse needs all the estate-assets to make ends meet.