A will communicates all the wishes of the deceased after their passing. Unfortunately, no will is airtight; it can still be challenged or contested by any concerned parties. In Australia, nearly half of all wills are contested by family members who believe that they deserve more than what the deceased provided for them. While it…
Writing a will isn’t just about listing down your assets and identifying their respective beneficiaries. Like any legal document, your will needs to be precise and accurate about its terms to be considered a valid testament for distributing your estate. All these formalities and more is exactly why you need to hire a wills and…
If you have been working all your life to provide for your family and you want to protect your hard-earned wealth and loved ones, there are three documents you need to have. It does not matter how old or healthy you are. These documents can help you protect the most important things in your life,…
There are a lot of things involved when you own a business, keeping it running is only part of the pie. Business owners will need to extend their passion, stress, perseverance, and personal sacrifice on top of everything else on their plate. With that, you’re expected to invest a considerable amount of yourself to keep…
When people pass away, it’s their right and obligation to pass on their legacy through the last will or estate planning. The production of these legal documents will clarify what the deceased benefactors will pass on as liquidated assets. However, there are cases when these individuals can feel underrepresented in a person’s will. This is…
When you are an executor or trustee, you have several vital tasks. From dealing with banks and share registries to coordinating with beneficiaries, you are the principal administrator of an estate. What’s more, a person’s Will might not specify an executor’s tasks or how they should handle particular issues. Not everyone is a wills and…
All established businesses, organisations, corporations, and institutions strive to live a life that can withstand the test of time, meaning that when one key figure leaves, another person should be ready to take up the mantle and run the show. That’s why succession planning is crucial, even for start-ups, since it’s responsible for securing your…
A Power of Attorney (POA) is a responsibility and authority you hand over to another party to act on your behalf to make personal or financial decisions concerning your assets or estate. This involves situations about your health care, financial agreements, and other needs. Essentially, it’s a legal document that certifies the party you choose…
Nothing is more disheartening than filing for bankruptcy. Upon confirmation, the bankrupt’s property vests in the trustee. If claiming bankruptcy within a marriage, the non-bankrupt spouse can protect the legal and equitable interests of the bankrupt trustee through family law. How to Begin a Property Proceeding Should a trustee become bankrupt, they can…
There are many types of binding financial agreements or BFAs available to parties, allowing those involved to protect their resources in various scenarios. However, most people aren’t aware of what happens to a BFA if one party dies, along with the circumstances in which they can set aside an agreement. BFAs are crucial for enabling…