Testamentary Trusts – General Advice (NSW)
What is a Testamentary trust?
As the size of estates are growing, Testamentary Trust Wills are becoming more popular. Here is a summary of the concept.
Testamentary trusts are trusts established under a Will. Rather than giving a beneficiary their inheritance “outright”, this type of Will gives them the option to take their inheritance in the form of a trust. It is an optional vehicle for inheritance which has the potential to provide important asset protection and taxation minimisation benefits. Read full PDF here
Family Provision Claims – General Advice (NSW)
What is a family provision application?
A family provision application is a claim made against a deceased’s estate seeking provision on the basis that the estate does not provide “proper and adequate provision”.
Who can claim?
Persons who are eligible to claim include: Read full PDF here
Estate Administration – General Advice (NSW)
What is Probate?
A Grant of Probate is issued by the Supreme Court of New South Wales. It is formal recognition of the validity of a will and authorises the executors to administer the estate.
If there is no will, the Grant is known as Letters of Administration and administrators are appointed instead of executors. Read full PDF here
Estate Planning for Blended Families – General Advice (NSW)
Estate planning in the context of blended families can be challenging.
If “simple” wills are made, leaving the whole estate to the surviving spouse, with the surviving spouse then leaving the whole estate to “both sides” of the family, there are a number of risks that can be of great concern.