Guaranteeing a child’s loan: an obligation that can outlive you
As property prices and borrowing challenges persist in Australia, more families are turning to guarantor loans – commonly referred to in the media as the ‘Bank of Mum and Dad’ – with brokers reporting significant growth in parents providing guarantees to...
Digital assets, cryptocurrency, and probate: don’t let your wealth disappear
Digital assets such as cryptocurrency and online accounts are easily lost after death without planning. Here’s what families and family businesses need to know about probate in the digital age.
What happens when co-executors can’t agree? Lessons for will-makers and executors
Appointing two executors might sound like a sensible way to share responsibility, indeed, it is something we often recommend, but what if those executors can’t agree, or worse, one refuses to act? The Supreme Court of New South Wales case Wise v Barry; The Estate of...
Excluded from a step-parent’s Will? What step-children should know in South Australia
When a parent dies and leaves everything to their spouse, many children choose not to contest the Will. Out of respect for their parent’s wishes, the grief involved, and the complexities of family life, they allow their step-parent to inherit everything. But years...
Advising under an EPOA: Know your duties and risks
As a professional adviser, you may have been instructed to manage personal wealth matters for clients in a way that benefits not only your client but also their families. Your client, like Mary, may have routinely provided regular financial support to their family – adult children, grandchildren, spouses, or even elderly parents. This support can be informal but deeply entrenched, often continuing for years.
But what happens when your client loses capacity, and their Enduring Power of Attorney (EPOA) takes effect?