Estate & Succession Planning

Estate Planning Articles

Apr 242020
 

The COVID-19 Public Health Orders have seen many solicitors and Justices of the Peace working remotely. In response, the NSW Government has implemented the Electronic Transactions Amendment (COVID-19 Witnessing of Documents) Regulation 2020 (NSW) which came into effect on 22 April 2020 and is expected to terminate on 22 October 2020. The Regulation can be accessed here: https://legislation.nsw.gov.au/regulations/2020-169

The Regulation allows for the use of audio-visual technology (such as Skye and Zoom) to witness and attest documents that are administered in New South Wales. Such documents include:

  • Wills;
  • Powers of Attorneys (including Enduring Power of Attorneys);
  • Appointments of Enduring Guardianship;
  • Deeds or Agreements;
  • Affidavits (including an annexure or exhibit to an affidavit); and
  • Statutory Declarations.

Although the Regulation allows for the person witnessing the document to not be physically present, various stringent formal requirements still need to be complied with for the document to be valid.

For more information about the requirements, contact Solicitor and Notary Public, Peter McNamara

May 012019
 
Left out of a Will, want to put it right?

Where’s there’s a Will, there’s sometimes a Way – to upturn it. Karl Lagerfield died last month.  According to Le Figaro, his cat Choupette was to inherit a good bit of his estimated $300 million fortune.  She’s no retiring feline, this one, she has her own Instagram account.  Here is an image of Choupette with […]

Feb 052019
 

When it comes to estate planning, most clients know how important it is to have an up to date will. What a lot of clients don’t know is that their biggest asset may not be covered by the will. It used to be said that the family home was the biggest investment most people ever […]

Jan 222019
 

The unanimous High Court ruling in Thorne v Kennedy [2017] HCA 49 highlights the broadened circumstances in which financial agreements can be set aside in Australia, casting considerable doubt on agreements that are heavily weighted in favour of one party. The court set aside two financial agreements that were made pursuant to Part VIIIA of […]

Oct 232018
 

Peter McNamara has previously warned that you get your superannuation death benefits sorted:  http://www.cml.com.au/wills-smsfs-and-binding-death-benefit-nominations-get-yours-in-line Now a recent case shows that you should get your powers of attorney sorted as well. What happens to your superannuation if you lose capacity?  Your superannuation death benefits will be dealt with as set out in the superannuation trust deed.  Most […]

Jul 302018
 

Well, Barnaby Joyce has sure gotten our attention recently.  It’s as old as the hills:  Two people get together, one is older and already has kids, and the younger one is female. And a similar story should get our attention this week.  In this case, one man was older, and very rich, while she hardly […]

Jul 132018
 

Been left out of a will? Not received what you believe you are entitled to receive? You could be eligible to make a family provision claim. Family provision claims must be made within 12 months of the death of your loved one and can only be made by ‘eligible persons’. This includes current or former […]

Sep 112017
 

Agreeing to be executor of an estate means accepting obligations to the tax office. As the executor, you are answerable to the taxpayer for all of the estate's income and take over the deceased’s responsibilities for launching tax returns. Until the estate’s assets and income have been fully distributed, you will have to work out […]