Insights
Don’t Leave it to Chance: Why You Need a Will
As the years go by, we accumulate more than just memories—we gather assets, relationships, and responsibilities. Whether it's your home in one of Melbourne's charming suburbs, your cherished family heirlooms, or the savings you've worked so hard to build, these are the things that make up your legacy. But what happens if you pass away without a will? The consequences might be more significant—and more complicated—than you think.
Unleashing the Power of Testamentary Trusts: Demystifying Legal Jargon for a Secure Future
Testamentary trusts, testamentary discretionary trusts, TT, TDT - the legal terminology can be overwhelming, but at their core, they all signify a trust established in a will, springing to life after the willmaker's passing. Testamentary trusts bear striking similarities to family trusts, technically known as discretionary trusts, but they hold a unique quality: they remain dormant until the appointed time.
Where there’s a Will, there’s a way
As a Balwyn based boutique family law firm, we are frequently called on to exercise our skills in the area of Wills and Estates; through the creation of wills and organisation of probate.
However, Wills can be confusing and sometimes daunting to those who have not created one before, or simply do not know where to start.
We have compiled the following ‘FAQs’ to guide you through the process, and to help you understand why creating a Will is so important.
Going Global: Overseas Attorneys & Assets
We often have clients who live in Australia and want to create an Enduring Power of Attorney appointing family members living overseas.
Additionally, the client often has assets also located overseas.
So, can a client appoint an attorney who is overseas and what about their overseas assets?