Category: Wills & Estate Law
ABKJ Lawyers have extensive experience in creating and contesting wills for our clients, as well as estate administration, planning and litigation. To ensure your will is legally binding and will do the job you intended it to, contact ABKJ to talk to one of our Will & Estate Lawyers.
We have also included the below helpful articles outlining some of the most common issues occurring in this area of law.
What happens to your financial and health if you become incapacitated for any reason (such as a car crash or other accident)? What if you are overseas, or away from home, and cannot sign a document which needs urgent attention? What happens when you become elderly and just can’t keep up with the demands of your finances, and everything is just too complicated? Who is able to help you when you can’t help yourself? Who is able to assist you and make decisions on your behalf? May we take this opportunity to draw your attention to the existence of a… Continue Reading
Have you lost track of old bank accounts, shares, superannuation or life insurance policies? Have you moved address and cannot recall whether you notified a company or firm who may be holding money on your behalf such as your lawyer, real estate agent or accountant? If you answered yes to either of these questions, you may have unclaimed money. There are two websites where you can search for unclaimed money free of charge. These websites are: Australian Securities & Investments Commission – This website will search for general unclaimed money (such as lost shares, bank accounts and life insurance policies… Continue Reading
An Enduring Power of Attorney is a document which we all need to have in place to guard against the possibility we may suffer a serious accident or illness and find ourselves unable to manage our own affairs and deal with all the personal and financial issues which are a normal part of daily life. If a person becomes incapacitated and doesn’t have an Enduring Power of Attorney in place, those close to them end up in a state of confusion as to the manner in which they manage the simplest of tasks on behalf of the incapacitated person. This… Continue Reading
Executor’s Checklist
Locate the deceased’s Last Will & Testament Confirm you have been appointed the executor of the estate and check whether the Will contains any wishes of the deceased concerning their funeral arrangements or burial. Liaise with a funeral director regarding funeral arrangements ensuring you have confirmed the following: The estate has sufficient funds to pay for the funeral. If the funds have been frozen or there are insufficient funds, please refer to the Frequently Asked Questions; The manner in which the funeral home will require payment and how/when payment is required to be made; and Whether the deceased has funeral… Continue Reading
You cannot avoid estate litigation even if you feel you have the perfect Will. Every person has a right to contest the terms of a Will or Codicil, no matter how careful you are in drafting it. Whether that person will be successful is a different matter and the amount of legal fees expended will depend on what action you took in drafting your will, whilst alive, to minimise the risk of litigation. If you anticipate your estate will be contested after you die, there are some factors you can take into consideration in an attempt to reduce the risk,… Continue Reading
An often overlooked issue when preparing a Will is the applicability of any taxes when the estate is distributed. While inheritance tax or death tax does not apply in Queensland, other federal and state taxes such as Capital Gains Tax and Transfer Duty (Stamp Duty) can affect your estate. When preparing your Will, it is important to discuss with your lawyer and financial planner the appropriate estate planning strategies that will minimise any applicable taxes related to your assets and the effect they may have on your beneficiaries. Capital Gains Tax Capital Gains Tax (CGT) in Australia essentially revolves around… Continue Reading
Members of the public are often presented with “Do-It-Yourself” Will kits from a variety of sources which are provided at little or no cost. The preparation of what is presumed to be a straightforward document for minimal expense, in comparison to the fee which would need to be paid to a lawyer to meet with you and prepare a traditional form of Will, can turn out to be a costly decision for your estate. The uncertainty of meaning, and the oversight and omissions which frequently plague such documents provides a fertile ground for estate litigation. Some common difficulties arising with… Continue Reading
What Is Meant By Probate?
Probate is derived from the word “prove”. It is a process whereby the Supreme Court becomes satisfied that the will of a person who has died is the correct last will of the deceased and issues a certificate to that effect called probate. Once the Court issues probate of a will, the probate can be produced to any interested party who will then deal with the executor named in the will knowing that they are dealing with the person who has authority to deal with the assets of a deceased person. An executor is not required to apply for probate… Continue Reading
