What are the benefits of family trusts?

What are the benefits of family trusts? Baby Boomers are setting up Family Trust Funds to help next generation family members. But what are the benefits of family trusts? Baby Boomers in Australia are in a unique position compared to previous generations, they are home owners in a rising property market, with superannuation and other […]

How to leave a business in a Will in NSW

How To Leave A Business In A Will In NSW The first thing to do is to sit down and talk to your family about the options available for the business after you are gone. Having this discussion may be confronting, but it is important to ensure that everyone in the family is on the […]

Can I change lawyers for a contested estate matter?

Can I change lawyers for a contested estate matter? Question: “I hired a different law firm to handle a contested Will. But I’m not happy. What should I do?” Answer: It is unfortunate but it can happen, a lawyer who is meant to be Administering a Deceased Estate acts negligently in fulfilling their duties. When […]

How to contest a Will in the Supreme Court NSW

NSW Supreme Court

How to contest a Will in the Supreme Court NSW There are various ways to contest a Will in the Supreme Court of NSW. Including family provision claims, a lack of testamentary capacity by the Will maker, fraud, undue influence or a need to rectify the drafting of a Will. Family Provision Claims Family Provision […]

What happens when an estate is insolvent?

What happens to the debt of someone who dies? An Estate is insolvent in NSW when the liabilities of the deceased Estate are greater that the assets of the Estate. When a person dies, it is the duty of the Executor named in their Will (or appointed by the Court if the deceased did not […]

How to avoid capital gains tax on inherited property

How to avoid capital gains tax on inherited property Have you inherited property? You may have to pay capital gains tax (CGT). Capital Gains Tax is an Australian tax on real estate or shares that may be payable when you sell these assets. The tax is calculated on the difference between the purchase price of […]

What is a Family Provision Claim?

What is a family provision claim? A family provision claim is made by a person who hasn’t been included in a Will or hasn’t received their fair share. Who can make a family provision claim? A family provision claim can only be made by people who are considered ‘Eligible Persons’ under the Succession Act. Eligible […]

What is the definition of personal possessions in a Will?

NSW Supreme Court

What is the definition of personal possessions in a Will? (also known as personal items, personal effects, personal property or chattels). Case Study: Lowe v Lowe [2015] NSWSC 48 This has long been the subject of court decisions about what is included in “personal possessions” and how they are to be distributed to beneficiaries. A […]

What are the inheritance laws in NSW?

How does inheritance work in NSW? The question of who can benefit under Inheritance Laws depends on whether a person has left behind a valid Will or not. If a person has left behind a valid Will, then the people named as beneficiaries in their Will, generally inherit the assets left to them in the Will. […]