Unlike divorce, marriage separation does not have an effect on your Will. For this reason, the period of separation that occurs prior to divorce is possibly one of the most important times to ensure your Will reflects your changed circumstances.
When you give an outright gift to someone under your Will, the beneficiary receives the gift from your executor, with no strings attached. The beneficiary can do what they like with it. If you impose any rules on the gift, then you have effectively created a ‘testamentary trust’, and things get a little more complicated.
Do you have the right to determine who inherits your farm? The short answer is ‘not necessarily’, but there are things you can do to increase the chances of your wishes being upheld.
We are often asked how much damage outdated estate planning documents can do. The answer is clear: a lot.
Who will make decisions about your health and welfare when you can’t? (South Australia)
Most people understand the importance of making an Enduring Power of Attorney. If you are not able to make financial decisions for yourself, your Enduring Attorney can step into your shoes and keep things in order on your behalf. However, not all Enduring Powers of Attorney are created equal.