For many years both the individual states and the Commonwealth imposed death duties, known as estate duty for the Commonwealth version. Premier Jo abolished death duty in Queensland, and the resultant rush of investment into Queensland led to his lead being followed throughout Australia, so there are no death duties as such in our country. … Continue reading There’s No Death Duty Nowdays, Is There?
When someone dies, we hope they have a Will, which will mean that there is a known executor or executors, which will make their job as easy as possible by keeping good and accessible records. The first step is to ensure that your major documents, such as your Will, Title Deeds and any Powers of … Continue reading What Did He Actually Own ?
Does the Estate pay the legal costs if the Will is challenged? One of the most common questions asked by people considering challenging or defending a challenge to a Will is whether their legal costs will be paid by the Estate. There is no clear cut answer to the question. Whether the Estate pays the … Continue reading Does the Estate pay if the Will is challenged?
What is a ‘Lasting Power of Attorney”? In New South Wales people are able to make a Power of Attorney which is a written document giving a person or persons the right to deal with their property as if they were the owner of the property. For example, you may make a power of attorney … Continue reading What is a ‘Lasting Power of Attorney”?
It is often the case that people die without making a Will. In these circumstances it may be possible for you to make a claim on the Estate of the deceased with such claim being dependent on your relationship with the deceased. Under the rules of intestacy, which is where a person dies without a … Continue reading Can I make a claim where no Will was made?
An Executor named in a Will has many responsibilities to the beneficiaries receiving gifts under the Will. The most important of these responsibilities is an Executor’s duty, to act in the best interests of all beneficiaries and to act impartially between all beneficiaries named in the Will. This duty is commonly referred to as a … Continue reading What is a Fiduciary Claim?
How long does it usually take to contest a Will? If the outcome is favourable for the contesting party then what happens? Is this something that takes months or years? The first important thing to know about contesting a Will in New South Wales is that, you have a set period of time in which … Continue reading How long does it take to contest a Will?
I’ve heard that you can incorporate a “no contest” clause into a Will. Is this true? And what a ‘no contest’ clause is a clause in a Will stopping beneficiaries or others from making a family provision claim on the Estate. It is possible to incorporate a ‘no contest’ clause into a Will. However, there … Continue reading What is a ‘no contest’ clause?
If you believe that you might have grounds to contest a Will there are a few important facts you need to know! There are numerous grounds available to contest a Will including undue influence, fraud or a lack of testamentary capacity in the Will maker. However, the most common ground used to contest a Will … Continue reading Contesting A Will – The Facts You Need To Know!
I am putting my affairs in order and have 3 children, 2 are older with families of their own the other is only 16. I’ve heard about using Testamentary Trusts and was wondering whether this would be of any benefit in my situation? A Testamentary Trust would be of benefit in your situation as it … Continue reading Is A Testamentary Trust Always Beneficial?