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Case Study: How a Power of Attorney Can Save You
Who will make medical or financial decisions for you if you are incapacitated? Losing capacity is not a topic many of us like to envisage. However, with proper planning you can ease the burden on family members and loved ones by being prepared. The importance of having a designated alternative decision maker is illustrated by […]
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Why Estate Planning Should Be On Your Christmas Wishlist
By Anna Thompson, Legal Assistant With the festive season quick approaching and celebration and holiday preparations being made, it is time to start thinking about presents for your loved ones. This year, think about giving a gift that benefits both you and your loved one: the gift of an estate plan. The Perfect Holiday Gift […]
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Why Drafting Your Own Will Is A Bad Idea
By Jordyn Nichols, Lawyer What is an Informal Will? An informal will is a document that sets out a person’s testamentary intentions but does not satisfy the legal requirements of execution under Section 7 of the Wills Act 1997 (Vic). There are a number of reasons why someone may choose to write their own will, […]
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The Importance of Estate Planning Before Capacity Becomes an Issue
We should all plan for our future. Certainly, we should all have a current will, especially those of us who need to make special arrangements for the care of children or pets. Many of us would also benefit from making a formal arrangement to account for a time when we could find ourselves unable to […]
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Just Sign Here… ‘Silent’ Directors Beware
If you have been asked to accept a position as a director of a company in which you have little or no involvement, think again. All too often spouses are appointed as a co-director of their partner’s company without understanding their full responsibilities as a director. This is commonly known as a ‘silent director’. While […]
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Essential Considerations When Starting A Business
Starting a business can be exciting, but also overwhelming and challenging if you have not properly prepared for your new venture! This guide will take you through some essential considerations of starting a business. Business Plan Business plans are vital if you want your business journey to start on the right track! You don’t have […]
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Navigating Trustee Responsibilities in Victoria: Your Essential Guide to Protecting Beneficiaries
Are you a trustee or about to become one? Your role as a trustee is crucial in safeguarding assets and benefiting others. In Victoria, the responsibilities of a trustee are governed by both common law and legislation. Understanding these duties is paramount to avoid personal liability and ensure the trust’s success. Let’s explore the dynamic […]
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De Facto Partners – Who Gets Your Super When You Die? Some Common Myths Debunked
Superannuation is an important asset that many Australians accumulate throughout their working lives. If you are in a de facto relationship, do you know who will receive your super when you die? Myth #1: I have made a Will. It is all sorted. It is a common misconception that having a will is enough. This […]
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The Financial Risk in Giving Personal Guarantees in Leases
If you are a director of a company entering a commercial or retail lease, a landlord will likely require you to give a personal guarantee for the company’s obligations under the lease. In such cases, directors should fully understand the extent of the guarantee they are providing and obtain appropriate legal advice to minimise financial […]
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Dying Intestate – The Perils of Not Making a Will
It is absolutely crucial that you make a Will to avoid the perils of dying intestate. A valid Will determines how your estate is dealt with after you die. Your Will can appoint an appropriate family member or trusted friend to administer your estate (your executor), nominate guardians for young children, determine who will receive […]
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