What is a Power of Attorney? Can it be revoked?

A Power of Attorney is a legal document that allows you to control who makes decisions for you, while you are still alive. At some point in your life, you may consider appointing a trusted family member or friend to make decisions on your behalf. Differences between a Power of Attorney, Guardianship/Administration Order, and Wills … Read more

The difference between Guardians and Administrators, and how to apply

There may be circumstances where a person with reduced decision-making capacity needs support to make personal or financial decisions. A guardian or administrator may be appointed to assist in such circumstances where there is no enduring Power of Attorney (POA) in place. Difference between guardian and administrators Guardians are appointed to make personal lifestyle decisions … Read more

I can’t find my Certificate of Title, what should I do?

Can’t find the original paper Certificate of Title for your property? Not to worry, the title can be located or replaced by the Victorian titles’ office.   What is a Certificate of Title?  A Certificate of Title is the official record of who has interest and rights over a piece of land.   What’s the recovery process?  … Read more

What is an Advance Care Directive plan? 

An advance care directive is a document that outlines your instructions and preferences for future care in the event you lose the ability to make decisions in relation to your care.   An advance care directive is not the same as an appointment of a medical treatment decision maker. Under a Medical Treatment Decision-maker appointment document, … Read more

What is a Power of Attorney? What are the different types?

Life is unpredictable, and you may unexpectedly find that you are no longer able to make decisions due to an injury or illness. You could also lose legal capacity to make decisions, or are travelling overseas and need someone to make decisions for you while you are away. By appointing a POA you can choose … Read more

When is a survivorship application required? What is the process?

When property and assets are jointly owned, and one of the joint owners passes away, the property and assets will automatically pass to the surviving party. Both names will remain on the title until a survivorship application is completed. To remove the deceased party’s name from the title, the surviving party must lodge a survivorship … Read more

What happens to my super fund if I pass away? Can I put it in my Will?

Your superannuation fund (i.e. ‘super fund’) may be a major, if not the largest, asset of yours. When managing your estate and assets it is crucial understand how your superannuation benefits are dealt with after your death. How are my super benefits dealt with?   Your super fund is managed by a board of trustees (‘the trustees’) … Read more

Can I Exclude Someone from My Will?

“Where there’s a Will, there are 500 relatives.”   In making a Will, it can be just as challenging to decide who to exclude from your estate as it is to decide who is to benefit from it. People often think ‘it’s my Will, so I get the final say’. However, Australia laws prevents Will-makers, also … Read more

Don’t have a Will? Rules of Intestacy will apply! 

To Will or not to Will? Let’s explore the legislative rules that apply in the event of you passing without one.   What are the Rules of Intestacy?  If you don’t have a will, you are said to have died ‘intestate’ upon death. As such, the Rules of Intestacy will apply.   This means the … Read more

I have inherited property – what happens now?

Itis never easy dealing with the loss of a relative or close friend. Having some understanding of how property transfers from deceased estates are treated can alleviate the stress from managing the remaining assets and belongings of your lost loved one.   What is a ‘Deceased estate’?  A deceased estate is anything owned by the person … Read more

DIY Wills – what are the risks? 

Making a Will is the essential step in estate planning – outlining your wishes and how your loved ones are to be cared for when you are no longer around. Surprisingly, some people still feel that spending money on ensuring a Will is validly prepared is unwarranted. While DIY Wills and DIY Will Kits are money … Read more

wealthsource writing a will

When should I start thinking about writing a Will?

While this is a sensitive topic and you may be hesitant asking your friends and family, having a plan is important for peace of mind. Here we address some of the common reasons people put off preparing their Will.  ‘I don’t have any assets’  It’s not unusual for many to believe that they don’t have … Read more

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