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Posts Categorized: Wills & Estate Planning

What happens if you die before paying off your mortgage?

Do you own property with a mortgage over it? What happens if you die before paying off the mortgage? Picture this: You bought a house on your own in your young, single days and took out a mortgage. You have recently married the woman of your dreams. However, you are now having concerns as you want to ensure she gets […]

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What is an executor?

One of the most important decisions when planning your estate is who your executor should be. What is an executor? An executor is an important role in your will. The person you choose as your executor handles all of your personal, business and financial affairs on your death. Their role is to respect your wishes and distribute your assets as […]

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Grant of probate

Grant of Probate

In Estate matters, we often get asked why a grant of probate may be required. When a person passes away, their estate must be administered. The deceased may have had minimal assets, such as a car and a small amount in a bank account.  In this case, the estate can be straightforward requiring only a death certificate to sell and […]

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Testamentary Capacity

How does testamentary capacity affect a will?

A will is a legal document instructing on the distribution of a person’s assets after their death.  Anyone over 18 can make a valid will, as long as they have “testamentary capacity”. What is testamentary capacity? Testamentary capacity means that a person has the required mental capacity to make a will.  It refers to a person’s mental capacity opposed to […]

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appointment of enduring guardian

Why do I need an Appointment of Enduring Guardian?

What is an Appointment of Enduring Guardian? An Appointment of Enduring Guardian allows you to appoint a person to make health and lifestyle decisions for you if you no longer have the capacity to make such decisions yourself. You can appoint an enduring guardian as long as you are over 18 years old and understand what you are signing. How […]

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Executor and estate administering

How to deal with an estate as the executor

When someone passes away, there are a number of steps the executor/s need to take in order to administer the estate. What is an executor? The executor/s are named in the will and are usually a close family member, friend or solicitor whom the deceased felt would be capable of the important task of administering their estate. Your role is […]

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Self-Managed Superannuation Fund (SMSF)

What you need to know about Self-Managed Superannuation Funds (SMSF)

A Self-Managed Superannuation Fund differs from a superannuation fund managed by a fund manager, such as a large corporation or industry body. A self-managed superannuation fund is managed by you. A major benefit of a self-managed superannuation fund (SMSF) is that you have control over your funds and the way in which they are invested. The main benefits of an SMSF […]

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What is a Power of Attorney?

What is a power of attorney? We often get asked this common question. So, what is a power of attorney? A power of attorney is a legal document appointing someone to act on your behalf in your property and financial matters. The person who makes the power of attorney is the “principal”. The person appointed to act on your behalf […]

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The cost of NOT having a will

The cost of NOT having a will

What are the consequences if you were to die without having made a will? The cost to your family when administering your estate could be quite significant. This would certainly be the case if you have a substantial amount of property, which could include: • Real estate; • Shares; • Motor vehicles; • Bank accounts; • Personal property of value. The purpose of a will […]

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Can I contest a will

Can I contest a will?

You can contest a will if you feel you have been inadequately provided for or left out altogether. There are plenty of reasons why you may feel that you have not been adequately provided for in a will. The law allows certain eligible people who feel they haven’t been fairly provided for to make a claim and contest a will. […]

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