Estate Law

CATEGORIES
The Trustee’s Dilemma: Balancing Duties with Discretion 01.02.24 Establishing a trust structure can offer various benefits, such as minimising taxes, protecting assets, and enabling control over the management and distribution of property and/or assets. Being assigned the role of a trustee in a trust signifies that someone has entrusted you with significant responsibility and confidence. In this article, our commercial and estate teams explore the utilisation of trusts, the responsibilities of trustees, and the recently examined duty of trustees to exercise "real and genuine consideration" when executing their powers.

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The Great Debate Over The Elvis Estate 20.09.23 Navigating the complexities of estate disputes, highlighted by the tumultuous Presley/Keough family saga over Elvis's massive estate, underscores the necessity for clear legal documentation and expert guidance. The article delves deep into the intricacies of contesting a Will in the Australian context, particularly in Queensland. From legitimacy issues rooted in inconsistent signatures to the adequacy of beneficiaries' entitlements, it's evident how vital adherence to legal standards is in ensuring the rightful distribution of assets. Ramsden Lawyers offers an invaluable lifeline in these intricate legal terrains, emphasising the importance of proactive measures and specialised counsel to prevent familial discord and safeguard assets.

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Being Appointed as Executor Or Administrator Of An Estate – Role, Responsibilities, Risk And Rewards 17.08.23 A Will is a fundamental legal document, and being named as its executor signifies immense trust to execute the deceased's final wishes. The executor, appointed by the Will's creator, manages the deceased's affairs after their passing. If no valid Will exists, the person is said to have died intestate, and the rules of intestacy apply. In such cases, the Court may appoint an administrator, a role akin to an executor. The chief responsibility of both roles is to administer the estate of the deceased, which includes tasks like obtaining probate, managing estate assets, and settling debts. Given the immense responsibility, executors also face legal risks. However, there's a silver lining: Executors can claim commission for their services, reflecting the magnitude and importance of their role.

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Reshaping Your Legacy – A Guide To Altering, Revoking And Reviving Your Will 19.06.23 Making a Will is critical to ensure your assets are allocated as per your wishes after your death. However, life's ever-changing landscape often necessitates alterations to your Will. Our guide dives into the complexities of altering, revoking, or reviving a Will under the Succession Act 1981 (QLD), offering you valuable insights into this process. Changes to a Will must be executed with care, or they risk invalidating the document. Revocation, either voluntary or by law, requires a comprehensive understanding of legal procedures. Lastly, the revival of a revoked Will has its own set of processes. Navigating these complexities can be daunting, and that's where our team at Ramsden Lawyers comes in. We offer expertise and guidance to ensure your Will accurately reflects your wishes and remains legally robust. Please note that this article is for general guidance and not a substitute for personalised legal advice.

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All Is Fair In Love And War: Family Provision Application 10.05.23 The article explains how to contest a will through a Family Provision Application (FPA). It highlights three factors to consider before making an FPA claim, including eligibility, time limits, and the factors the court considers when determining the claim. The article concludes by stating that Ramsden Lawyers can assist those considering making an FPA claim or supporting eligible individuals who wish to pursue a claim against an estate for further provision.

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The Importance Of Having A Will: Answering Top Questions 19.04.23 Planning for the inevitable is an integral part of life, and creating a Will is one way to do so. A Will is a legal document that outlines how you want your assets to be distributed after you pass away, and it can also include instructions for other matters, such as the care of minor children. This article answers some top questions about Wills, including why they are crucial, what makes them valid, and what happens if you don't have one. It highlights the importance of having a Will in minimising family disputes and costly legal battles, clarifying how you want your assets to be distributed, and ensuring that your final wishes are fulfilled.

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The Dangers Of Not Having A Will: Who Will Inherit Your Estate? 19.04.23 What will happen to your assets if you pass away without a valid Will? You could leave your loved ones with financial difficulties and uncertainty. The rules for distributing your estate can be complicated, and if you have other dependents, they may be entitled to a share of your assets. To avoid these risks and ensure that your assets are distributed according to your wishes, it's essential to have a valid Will in place. Our expert Estate Planning team can assist you in safeguarding your assets and providing financial support to your loved ones. Contact us today to learn more about the importance of estate planning and how we can help you protect your assets and loved ones.

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Estate Planning For Young People: Why Gen Z And Millennials Need To Write A Will 14.04.23 The COVID-19 pandemic has made young people recognise the importance of estate planning, regardless of their financial situation. Ramsden Lawyers Will & Estates team that even Generation Z and Millennials, who are starting their careers and have no significant assets, should have an estate plan in place to ensure their wishes are preserved. Their loved ones are taken care of. Estate planning provides peace of mind and safeguards assets in the event of unexpected circumstances.

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Testamentary Trusts – Benefits and Pitfalls 12.04.23 Testamentary trusts offer substantial benefits and savings for those looking to best provide for their loved ones once they are gone. To learn more about this type of structure and whether it suits you, continue reading.

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COVID-19 Effects on Estate Planning 08.04.20 COVID-19 requires many to isolate, quarantine or in the worst case, receive treatment for the virus. Practically, this poses many challenges especially from an estate planning perspective. Our estate planning team has developed a wills self-execution procedure to assist clients currently in self-isolation or quarantine. Our procedure follows strict compliance requirements to ensure the validity of all wills executed from our clients’ home.

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 Two Bites At The Cherry - Former Spouse Fails in Contesting a Will 12.06.18 The New South Wales Court of Appeal recently considered the circumstances in which a former spouse can pursue a claim against a deceased estate.

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 Same Sex Marriage and Wills 11.01.18 Newly-weds and couples whose marriage are now legally recognised should be mindful that a pre-existing will is automatically deemed void when a person marries.

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