‘Wills, Estates & Business Succession’

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Should Reserve Beneficiaries Be Listed In a Will

Monday, May 14th, 2012

When people prepare a Will, they sometimes may not consider what will happen to their Estate if all of the beneficiaries listed in the Will are no longer alive to benefit from the Will.

In this situation, the balance of the Will maker’s Estate, known as the residuary Estate, will be given to the reserve beneficiaries.  If a Will maker decides not to list reserve beneficiaries, the Will maker’s Estate may pass to family members who the Will maker would never have imagined could benefit from their Will.

Read the rest of Byron’s blog article here.

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Estranged Children Seeking a Fairer Portion of a Small Estate

Tuesday, April 24th, 2012

Given the ever changing nature of the family unit, there are increasing numbers of children who, for various reasons, have lost contact with their parents.  For children in this situation, being estranged from a parent doesn’t necessarily reduce their prospects of success when lodging a family provision application to dispute a will.

Read the rest of Byron Cannon’s article here.

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Double Payments To Children Before Death, And Under A Will

Thursday, April 19th, 2012

Many parents, prior to their death, provide gifts to their children to avoid any disputes under a Will.   However, if the Will also provides for another gift of the same amount, the payments could potentially be challenged on the basis that they are a double payment.

For example, a few months prior to his death, Bill gives his three daughters a gift of $100,000.00 each.  Once he has passed away, it is discovered in the Will, that Bill has left $100,000.00 to each of his daughters and the remainder of his estate to his Wife Heather (who is not the mother of his daughters).  Unfortunately, the Will does not make it clear whether the $100,000.00 left to each of the daughters under the Will was in addition to the $100,000.00 gifted to each of the daughters while he was alive.

Read the rest of Byron Cannon’s article here.

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One Very Big Estate Dispute

Wednesday, April 11th, 2012

I have been following with interest the news reports over the family dispute between Gina Rinehart and three of her children, in relation to a dispute over a trust formed from the estate of Gina Rinehart’s late father, Lang Hancock.

Lang Hancock left a large portion of his estate in a trust for his grandchildren (Gina Rinehart’s children).  Gina Rinehart is the trustee of the trust and it is alleged that the trust was to come to an end when the youngest daughter turned 25 in September 2011.

Read more of Byron Cannon’s article here.

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Blog Roll: New additions this week!

Monday, September 26th, 2011

Here is a summary of our most recent blog posts on our two blogs Australian Estate Law Today and Queensland Business Law Today. We also found some interesting articles on other blogs which we would like to share with you! We hope you enjoy reading it!

Australian Estate Law Today

Key Personal Capital Insurance and Capital Gains Tax
Read through a list of specific key issues in Byron’s latest blog post, regarding Personal Capital Insurance and Capital Gains Tax.

Challenging a Will and Claiming against an Estate
Throughout Byron’s blog post, it highlights what is needed to claim against an Estate and what steps must be taken in order to challenge against a will.

New Facebook Page!
If you like to be up to date about the Australian Estate Law Today, like our new Facebook page!

Queensland Business Law Today

Insolvent Trading and Directors Personal Liability for it
Byron’s latest blog post highlights the liabilities directors face whilst trading insolvent and the various warning signs for insolvent trading.

What is a Business Will? Here is the answer!
Do you know what a Business Will is? Read Byron Cannon’s latest blog post to help gain an understanding.

Work Health and Safety – Company Directors Getting Ready for the New Laws
Are you company director and looking to know the new laws for Work Health and Safety? Byron underlines the changes coming into effect on 1st January 2012.

New Facebook Page!
The Queensland Business Law Today also has its own Facebook page which gives you access to all our blog posts from within Facebook. Simply click the link above and then click on “Like”!

Other blogs

Can a cyclist injured in an accident claim compensation?
Tindall Gask Bentley, a successful law firm from South Australia, gives answers to this frequently asked question. Read their interesting article here!

“I was injured in a Dog attack, can I sue?”
Mal Byrne, an Adelaide injury lawyer, states you may be able to in fact take legal action against the dog’s owner. Read Mal Byrne’s insightful article here.

 

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Blog roll: What You May Have Missed This Week

Monday, August 22nd, 2011

Here is a summary of our most recent blog posts on our two blogs Australian Estate Law Today and Queensland Business Law Today. We also found some interesting articles on other blogs which we would like to share with you! We hope you enjoy reading it!

Australian Estate Law Today

How Does Divorce Affect Your Will?
In this blog post Byron focuses on the validity of a will after a divorce. There are differences from state to state and if you go through a divorce you might find this blog post very helpful.

Can Scandelous Words Be Removed From A Will After Death?
Due to a recent decision of the Surpreme Court of South Australia we explain if and how scandelous words can be removed from a will after death.

Capital Gains Tax and Life Insurance Policies in Business Wills
We often receive questions regarding business wills and capital gains tax. In this interesting post Byron gives answer to the most asked question such as “Is Life insurance a Capital Gains Tax asset?”.

New Facebook Page!
If you like to be up to date about the Australian Estate Law Today, like our new Facebook page!

Queensland Business Law Today

Corporate Governance and Directors Duties
Are you acting in the best interest of your shareholders? This blog post explains the importance of corporate governance and duties a director should be fulfilling.

Related Party Transactions
Do you know the obligations when dealing with related parties of your company? If the answer is no then this blog post will be very interesting for you!

Business Wills – Failing to Execute
Do you know what a business will is? Do you know about the importance of it and what happens if the will cannot be executed?

Asset Protection for your Business
Byron has recently been part of the “Your Business Panel” and one question asked the most was how asset protections for businesses work. Read his answer here!

New Facebook Page!
The Queensland Business Law Today also has its own Facebook page which gives you access to all our blog posts from within Facebook. Simply click the link above and then click on “Like”!

Other blogs

“I’ve been injured in a car accident. Do I get compensation?”
Tindall Gask Bentley, a successful law firm from South Australia, gives answers to this frequently asked question. Read their interesting article here!

“I was injured in a hit and run accident. Do I still get compensation?”
Mal Byrne, lawyer for car accident injuries in Adelaide, says you can still claim compensation even without the identity of the offending driver.

Retailers Hancuffed by Out Dated Laws
Andrew Bland, workplace and commercial lawyer of North Ryde based law firm BlandsLaw, shares his thoughts about wage rates that retailers must pay staff who work weekends and late nights.

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Enduring Powers of Attorney: Financial Abuse

Sunday, July 3rd, 2011

In his recent blog post, Byron explains what an Enduring Power of Attorney is and outlines some critical matters that need to be understood when appointing an attorney under an Enduring Power of Attorney.

Find the full article on Byrons Blog.

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KEY ISSUES TO INCLUDE IN YOUR WILL

Monday, June 27th, 2011

In our blog Australian Estate Law Today, Byron wrote an interesting article about which important factors should be taken into account when considering your Will. Especially aspects such as executors, tax,  superannuation and family provision will be highlighted. We hope you enjoy reading the full article on his blog.

Read the full article on Byrons Blog.

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Why every property owner needs a Will

Sunday, June 19th, 2011

Our director Byron Cannon was recently interviewed by Jemma Pearson of My Property Preview where she published an article entitled “Get it Write”.

The article highlights the importance of reviewing your Wills when you purchase or sell property. Byron has highlighted in this post some of the important issues covered in the article.

Read the full article on Byrons Blog.

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Codicil or New Will?

Tuesday, June 7th, 2011

A codicil amends, rather than replaces, a previously executed will. Such amendments may add or revoke small provisions of the will, or may completely change the majority, or all, of the gifts under the will.

Historically, the concept of a codicil arose as a time saving exercise given the expectations that legal documents were to be completed in original ink in the same hand. With the electronic document production technology available to modern legal practices however, a new will can be quite easily prepared and as such will in most cases be preferable to a codicil.

Read the full article on Byrons Blog.

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