Estate Planning Complications of a Lost Will

Estate Planning Complications of a Lost Will

Estate Planning, Trusts, Wills
Estate Planning Complications of a Lost Will

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.

Choosing a Guardian for Your Children

Choosing a Guardian for Your Children

testamentary guardian, Wills, Wills and Estate Planning, Young Children
Choosing a Guardian for Your Children

What is a testamentary guardian, and why do I need one for my children?
A testamentary guardian is an adult nominated in a parent’s Will to care for their minor children in case both parents die before the children turn 18.

When we have young children, we understand that if one parent dies, the other parent will automatically retain parental responsibility. But in case both parents die prematurely, each needs to nominate in their Will an alternate testamentary guardian for their minor children.

Otherwise your children may end up in a home you wouldn’t choose for them, being parented in a way that’s not in accordance with your values.

Binding Financial Agreements are an Important Part of Modern Estate Planning

Binding Financial Agreements are an Important Part of Modern Estate Planning

Estate Planning, Trusts, Trusts & Guardianship, Wills, Wills and Estate Planning
Binding Financial Agreements Are an Important Part of Modern Estate Planning

Modern relationships are fraught with tension and complexities when it comes to finances. Looking ahead to the time when you and your partner are established in your careers and have accrued considerable assets, it makes sense to want to protect what is yours should the relationship end.

Marriage, de facto and domestic partnerships

Australian Census data from 2011 shows that the married proportion of the total population has been falling. It is no longer the case that a majority of the population is married. Not so long ago the married proportion was as high as two-thirds of the entire population during the mid-20th century.  In 2011, this has dropped to less than half., and the relative divorce rate in Australia remains one of the highest in the world.

What Are Testamentary Trusts?

What Are Testamentary Trusts?

Estate Planning, Trusts, Trusts & Guardianship, Wills, Wills and Estate Planning
What Are Testamentary Trusts?

Few estate planning tools are as misunderstood — or as valuable — as the testamentary trust. Many people assume that a Will simply divides assets among beneficiaries in a straightforward fashion. While a basic Will can certainly do that, a testamentary trust offers a far more sophisticated and protective arrangement, capable of shielding your legacy from creditors, relationship breakdowns, poor financial decisions, and excessive taxation.
This article explains what testamentary trusts are, how they work, and when they should be considered as part of your estate plan under the Succession Act 2023 (SA), which governs Wills and estate administration in South Australia from 1 January 2025.

Estate Planning Challenges: The Ageing of Australia’s Population

Estate Planning Challenges: The Ageing of Australia’s Population

Estate Planning, Trusts & Guardianship, Wills, Wills and Estate Planning
Estate Planning Challenges The Ageing of Australias Population

Thanks to modern health care, the ageing population of Australia is growing rapidly. According to the Australian Bureau of Statistics, the demographic of people aged 65 and older increased by 3.7 percent between 1993 and 2013.

These numbers are expected to increase more rapidly over the next decade. If you’re in fairly good health and able to care for yourself well into your golden years, this is great news.

However, no one knows when an illness or injury could strike, requiring expensive long-term care and accommodations. Not planning for the future while you’re still of sound mind and in good health could be disastrous for you and your loved ones—physically, emotionally and financially. This is why it is in your best interest to meet with an Adelaide estate planning lawyer at Genders & Partners as soon as possible.

Legal Documents

When you meet with our experts on estate planning in Adelaide, we will assist you to protect yourself, your family and your assets. In addition to preparing your Will, we will provide advice and assistance on Powers of Attorney, and Advance Care Directives so that your loved ones know who is in charge of making certain decisions for you should you become ill or unable to make decisions for yourself. This leaves no one guessing or arguing over your wishes.

Undue Influence and the Growing Problem of Elder Abuse

Undue Influence and the Growing Problem of Elder Abuse

Estate Planning, Trusts, Trusts & Guardianship, Wills, Wills and Estate Planning
Undue Influence and the Growing Problem of Elder Abuse

Elder abuse can take many forms, including neglect, verbal and physical abuse, and financial abuse. According to the United Nations Office of the High Commissioner for Human Rights, people who are aged 80 and older suffer two to three times the abuse rate of those in younger age brackets.

As modern health care continues to increase life expectancy, more elderly people than ever will need to depend upon other people who may or may not have their best interests at heart. In such cases, undue influence is a real threat that can be prevented or minimised with the help of our estate planning lawyers in Adelaide.

Six Reasons Why LGBT Couples Should Create an Integrated Estate Plan

Six Reasons Why LGBT Couples Should Create an Integrated Estate Plan

Estate Planning, Probate, Trusts, Wills
Six Reasons Why LGBT Couples Should Create an Integrated Estate Plan

A legal marriage inherently affords certain rights to husbands and wives when a spouse dies without a Will or estate plan. The same cannot be said for LGBT couples, who must meet certain criteria to qualify as domestic partnerships under the law.

Without solid legal documentation of your wishes for your partner, children, health care and finances, you and your loved ones could suffer needlessly in the event that you become incapacitated or die.

Here are just six of the numerous reasons LGBT couples need to meet with Genders & Partners as soon as possible for Wills & estate planning in Adelaide.

The Necessity of Getting Your Affairs in Order Now

Estate Planning, Wills, Wills and Estate Planning
The Necessity of Getting Your Affairs in Order Now

Life is unpredictable, and your whole world can change in an instant if you fall ill or sustain a serious injury.

You certainly don’t want to think about your death when you’re in the prime of your life, but there are numerous good reasons to consult with an Adelaide estate planning lawyer as soon as possible.

It may be difficult to face your mortality, but the compassionate team at Genders & Partners will make the legal process of getting your affairs in order as easy as possible so that you can put this unpleasant task behind you and go back to living your life to the fullest.

Advance-Care-Directives-in-South-Australia.jpg

Advance Care Directives in South Australia

Estate Planning, Trusts & Guardianship, Wills, Wills and Estate Planning
Advance Care Directives in South Australia

Since 1st July 2014 this new style of document in South Australia has replaced the older documents known as Medical Power of Attorney, Enduring Power of Guardianship and Natural Death Anticipatory Directive.

This Advance Care Directive document allows you to appoint one or more persons to act as your Substitute Decision Maker, to make decisions for you about your medical & health care treatment and accommodation issues if you’re unable to do so for yourself. This can make all the difference between ensuring your wishes are met in very stressful times, and having treatment and care almost forced upon you against your wishes.

An Advance Care Directive is a legal form that allows people over the age of 18 years to state their wishes, preferences and instructions for future health care, end of life, living arrangements and personal matters and/or

An Advance Care Directive cannot be used to make financial decisions.  This requires a different document known as a Power of Attorney.

who-gets-the-jewellery

Who gets the jewellery?

Estate Planning, Wills, Wills and Estate Planning
who-gets-the-jewellery

When administering a deceased estate, love and law can intersect in the context of grief, causing problems for those left behind. Small things can set-off major family feuds.

For most families, a desire for personal effects is less about what they are worth and more about their sentimental value. Medals, jewellery and personal items are often the subject of strong feelings.

People in grief can behave irrationally, and their high emotions can create powerful symbols out of ordinary objects – a grandfather’s watch, a necklace, the rings mother wore – and in their minds the items become confused with how much the deceased loved them, rather than the market value of the items in question.