Facing our mortality can be stressful for many of us. But failing to plan has the same outcome as planning to fail.
So all of us need to be brave enough to do what needs to be done, despite our fears.
After 38 years in legal practice, there isn’t much that still surprises me. I think I’ve pretty much seen it all.
Social media and mainstream news outlets are filled with reports about disputes in deceased estates. There has been a big increase in the numbers of these actions in recent years. Often they relate to criticism of how an Executor has administered a deceased estate.
In most cases, a trusted family member or friend is appointed as an Executor. So, what are they doing wrong? Sometimes it isn’t easy to stay on the right side of the law when acting as an Executor.
You’re not alone. Every Australian family will be affected by dementia. As we get older, we need to have in place some important legal documents to protect ourselves, our family and our assets. If you wait too long, it could be too late.
In 2021 dementia affects almost 50 million people worldwide, which is predicted to increase to 131.5 million people by 2050.
Every three seconds another person somewhere in the world develops dementia.
Australia has committed to a national COVID vaccination program – described as the largest peacetime operation in Australia.
Australia’s federal industrial relations minister Christian Porter has reportedly told employers the government will not mandate vaccines in workplaces.
That means making the legality of workplace vaccination policies more “black-and-white” will need to come from the state and territory governments, using their regulatory powers under their work health and safety acts.
By signing a Power of Attorney you do NOT lose control over your affairs while you are able to manage them.
As long as you retain your capacity, you can always vary or revoke your own power of attorney, and you can place limitations on your agent which vary according to your requirements.
Most people execute an unrestricted Enduring Power of Attorney.
I’ve been trying to educate people for years that trying to DIY the most important legal document in your life is a really bad idea.
Wills and estates are specialised areas of law, and when you don’t know what you’re doing, it is very easy to make critical errors trying to do this yourself.
Any mistakes you make won’t become apparent until you die, and it’s too late for you to fix them, so it will be your family who has the stress and cost of dealing with it all.
Your ‘Will’ is a legal document that tells the world what you want to happen to your estate after you’re gone.
Your ‘estate’ is everything you own or control. It can include real estate, bank accounts, investments, shares, insurances, superannuation, vehicles, personal possessions and all manner of other assets.
It can also include intangible assets like goodwill, royalties, intellectual property and various legal rights.
In this age of political correctness, it seems that humour is a dangerous occupation. Each joke must be carefully scrutinised for potential offence to some minority group, and then sanitised of any disrespect to anyone whose delicate sensibilities might be burdened with the weight of somebody laughing at their expense.
Social media seems filled with humourless people who aren’t happy unless they are fired-up and ranting against somebody for some perceived slight or ‘tone-deaf’ comment.
As a result, what used to pass for harmless fun is now seen as social activism. Everyone must be a ‘role-model’ at all times, and everything is a ‘learning-moment’.
Blended families include children form previous relationships (step-children). They are growing quickly in number, but many people do not stop and think about the implications on children from previous relationships if they die without a Will. It is a dangerous assumption that the law will automatically protect your biological and step children, as numerous scenarios can preclude or reduce the amount that they receive after you die if you do not seek the counsel of an experienced Wills lawyer in Adelaide.
What Happens If You Die Without a Will?
South Australian law provides that, depending on the size of your estate, your children from previous relationships may receive nothing if you die intestate. For estates valued at less than $100,000, the entire estate goes to the surviving spouse or domestic partner unless a valid Will is in place. For larger estates, your spouse is entitled to the first $100,000, your personal belongings and half of the estate’s balance. Without litigation, at best your children will receive equal shares of the remaining balance (if any).
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.