will-kit

Homemade Wills and Will-Kits

Homemade Wills and Will-Kits Another homemade Will has just cost a family tens of thousands of dollars in Western Australia, with the family having to work out what the Will actually says in the Supreme Court. The will-maker must have thought they were very smart, but the language used in Wills has been developed over […]

The Sandwich Generation

New Book – The Sandwich Generation

New book – Sandwich Generation Who is the ‘sandwich generation’? You are the generation that is stuck between your adult children and your elderly parents. You have obligations to both of them, and you thought you’d have some freedom by now! You are torn between them. Just when your children should be grown up and […]

protective trust

Case study: Protective Trust

Case Study: Protective trust Protective trusts are not necessarily the best option to use when you have a vulnerable beneficiary, but they are still useful in some cases and should be considered by will-makers. Jay is upset when his daughter’s marriage breaks down, and even more so when she returns to drinking heavily, which she […]

wrong no guardians

Case Study: Wrong/No Guardians if Parents Die

Case study: Wrong/No Guardians One of the cases that I came across a few years ago, through a friend working as a prosecutor, made me want to bring estate planning awareness to parents of young children. This case was one of the reasons why I did my Masters Degree in Wills and Estates, and why […]

stamp duty

Stamp Duty Changes to Make Estate Planning Harder

Stamp Duty Changes to Make Estate Planning Harder One of the benefits that we previously had in Victoria was that spouses did not pay stamp duty on land transfers between them, whether it was their principle place of residence or an investment property, or any other restructure of properties between them. This was really important […]

self-managed superannuation

Case Study: Self-Managed Superannuation

Case Study: Self-Managed Superannuation Jay is in his second marriage. He has two adult children from his first marriage, a step-child and a new baby from his second marriage. He is the sole member of a self-managed superannuation fund that he set up before he got married again, and the fund has assets of $1.5m […]

common mistakes

Common Mistakes in Estate Planning

Common Mistakes in Estate Planning There are a lot of common mistakes that are made by lawyers and others who prepare estate planning documents for their clients via online services other than a lawyer. One of the major mistakes that leads to all the other following mistakes is to not value the estate planning process, […]

separated but not divorced

Separated But Not Divorced? Your Will Should Be A Priority

Separated but not divorced? Your Will should be a priority I used to tell family law clients when they were separating that their children and their property settlement were the most important things, and that they didn’t have to worry about getting a divorce unless they wanted to remarry. However, if you are separated and […]

power of attorney capacity

When Does A Power of Attorney Begin?

When Does A Power of Attorney Begin? Powers of attorney can be general or enduring. “Enduring” simply means that the powers you give endure beyond you losing mental capacity. Today, we are talking about Enduring Powers of Attorney that give powers in relation to financial, legal and personal matters. These powers of attorney can begin […]

get in order in 2017

Get In Order in 2017

Get In Order in 2017 One of your New Year’s resolutions may have been to get organised in 2017, or maybe it’s on your list of New Year’s resolutions every year. Well, in getting organised, here are some of the things you should think about to make sure that the wealth you are creating is […]

TBA Law estate planning

Case Study: Single Mother Without Powers of Attorney

Case Study: Single Mother Without Powers of Attorney Sara is a single mother raising her four-year-old daughter Michelle and two-year-old boy Matthew. Although she was devastated that her relationship with the father of her children failed, she has really embraced being able to do things her own way. She gets to choose what her children […]

estate planning melbourne

The Correct Way to Transfer Control of Your Family Trust

The Correct Way to Transfer Control of Your Family Trust Many small businesses and farming businesses are run in a family trust structure, and many families use family trusts as an investment vehicle, and perhaps own their investment properties in a family trust. Family trusts can be a great vehicle, particular for those who set […]

ACQ5 awards - wills and estates lawyer of the year

ACQ5 Global Awards 2016 – Wills and Estates Planning Lawyer of the Year

ACQ5 Global Awards 2016 – Wills and Estates Planning Lawyer of the Year TBA Law proud to announce that we have won another business award in a global industry magazine. ACQ5 announced to the world the winner of the 11th Annual ACQ5 Global Awards for 2016, and we were one! The 11th Annual ACQ5 Global […]

equal inheritance to children

Equalising Inheritance Through Your Will

Equalising Inheritance Through Your Will People will often want their children to have an equal share in their estate, and in giving instructions like this is a solicitor, many may not consider non-estate assets. If a will-maker truly wants their children to all be treated equally, then they also have to consider: pre-death gifts the […]

mistakes powers of attorney

5 Things To Never Do When Appointing a Power of Attorney

5 Things to Never Do When Appointing a Power of Attorney There are two primary enduring powers of attorney available in Victoria. One is for medical treatment, and the other covers financial, legal and personal matters. An attorney appointed for you must act in your best interests, but not in the best interests of your […]

self-managed super fund

If You Have A SMSF …

If you have a SMSF, what other documents should you have? Superannuation is holding more and more of our wealth. If you have a self-managed superannuation fund (SMSF), you have an more immediate responsibility to make sure that it operates correctly, and that you have considered all the succession factors you need to. The Trustee […]

same sex couple

Case Study: Same Sex Couple

Case Study: Same Sex Couple Mitchell and his partner, Cameron, live together with their young adopted daughter, Lily. They are modestly wealthy, their home being worth $800,000 with a $250,000 mortgage remaining. They each have superannuation of approximately $200,000 and life insurance each of $500,000. In Australia, as a same sex couple Mitchell and Cameron […]

estate planning blended family

Case Study: Blended Family

Case Study: Blended Family Jay needs to do his Will and estate plan. He and Gloria are married, but Jay has two adult children from his first marriage, Claire and Mitchell. Gloria has one child from a previous relationship, Manny aged 10, who lives with her and Jay. Jay and Gloria have just had a […]

bankrupt estate

The Truth About Insolvent Estates

The Truth About Insolvent Estates What happens when someone dies insolvent, meaning that they have more debt than assets? The first myth is that the executor will be liable for the debts. This is not true, if the executor acts honestly and does his or her job properly. The executor should not be personally liable […]

self-managed superannuation fund

7 Secrets About Your Self-Managed Superannuation Fund

7 Secrets About Your Self-Managed Superannuation Fund It’s no secret that the government is currently looking at changing rules around superannuation, but what are some things that already apply to our superannuation that you don’t know? Where are the governing rules of your self-managed superannuation found? There are detailed rules in legislation governing superannuation. However […]

simple will

When Does a Simple Will Become Complex?

When Does A Simple Will Become Complex? Solicitors are loath to call even a “simple will” a simple will these days. There are so many aspects to the wording used that the layman doesn’t understand, not to mention the trustee powers that need to be included. But even when a will is relatively simple, there […]

estate plan

Case Study: Estate plan for well-off nuclear family

Case Study: Estate Plan for well-off Nuclear Family Phil and Claire are married. They have three children, two to whom are still minors; Hayley, Alexis and Lucas. Most of their assets are jointly held: their house and bank accounts. Phil has a thriving real estate business in his own name. The total value of their […]

estate planning presentation

Estate Planning Presentation

Estate Planning Presentation This is a presentation that I’ve given at a few different locations. I thought I would record it an make it available for everyone.

minor's trusts

A Tricky Secret About Minor’s Trusts

A Tricky Secret About Minor’s Trusts In a Will, we will often leave our entire estate to our children once both spouses have passed away. If those children are still minors (under the age of 18 years) then they cannot inherit until they reach that age. Quite often, in our Wills, we will say that […]

superannuation death benefit

Who Can I Leave My Super To?

Who Can I Leave My Super To? Superannuation death benefits are not your estate assets – you have to nominate with the trustee of your super fund who you want your death benefit to be paid to.

Will for a single man

Case Study: A Will for an Older, Single Man

In our case study, Jay and Gloria divorce. Gloria and Manny return to Columbia and take Joe with them. Jay and Gloria reach an amicable property settlement. Jay has two adult children from his first marriage, Claire and Mitchell, and he has the young Joe from his marriage to Gloria. Jay still has significant assets […]

trust in will

Protective Trust

Protective Trust In each family there is often a financially irresponsible child, but when it goes one step further and that child is a gambler, or has a drug or alcohol problem, you will probably want to make sure that your child does not squander your hard-earned estate when they inherit it. Cutting them out […]

trust in will

5 Tips for Appointing Guardians For Your Children

5 Tips for Appointing Guardians for Your Children by Jacqui Brauman If you have children, you can’t leave their future uncertain. Updating our Wills is usually the item on our “list of things to do” that never gets done. Quite often, if our Wills aren’t up to date, or we don’t get the proper advice, […]

trusts in will

Estate Proceeds Trusts

Estate Proceeds Trusts: a case study by Jacqui Brauman This case study will illustrate what an estate proceeds trust is, and how it can be used when the Will was a basic Will that didn’t set up the trust itself. In this example, Nicole’s husband Daniel has died in an accident. They have two primary […]