The article indicated that there is a $3.5 trillion intergenerational wealth transfer expected over the next decade, in the form of inheritances flowing from the first group of the Baby Boomer generation (born from 1946 to 1964) who are nearing the age of average life expectancy.

Disputes involving promises about the future of the family farm are common and highlight the importance of succession planning.

There have been some difficult cases for the supreme Court in the past two years resulting from people trying to do a Will at home in their dying days, or leaving a note written at home attempting to amend a previously made Will. 

In the “old days”, when life was simpler, couples were married or they weren’t, and the law didn’t need to deal with any middle ground.

A will is a legal document that primarily deals with the distribution of your assets upon your death. It names the persons who are authorised to administer your estate (your executors) and sets out who receives your assets and in what proportions (your beneficiaries).

The State Revenue Legislation Further Amendment Bill 2019 was introduced to NSW Legislative Assembly on Tuesday 22 October 2019.

On 12 March 2018 the Medical Treatment Planning and Decisions Act 2016 commenced in Victoria.

Do you own a unit in Noosa, a villa in Tuscany, or a ski-lodge in Japan, or hanker for such luxuries?
It is increasingly common for people to own assets in other states or other countries. This can create complications for their wills and estates.

You never know if or when you might lose capacity, that is, lose the ability to manage your affairs. For example, you could be in a serious accident, you could suffer a stroke, or you could develop dementia. You might lose capacity temporarily or permanently.

For many people, their super is one of their most significant assets. But many people do not understand what happens to their super benefits (called death benefits) when they die.

Dealing with a deceased estate is a very difficult time. The grief felt from losing a loved one is often unbearable and just when you think things can’t get much worse, there’s all the legal stuff to deal with!

Some welcome amendments have recently been made to the laws regulating enduring powers of attorney. They improve the operation of enduring powers of attorney.

A deceased person’s ‘estate’ includes assets such as property, bank accounts and investments. The deceased person may also have liabilities including a mortgage, credit cards or other loans that need to be repaid.

With the increase in unmarried couples living together and the decline in marriage as a means of formalising long term relationships, de facto law has become a hot topic. So are you in a de facto relationship or not?

Sale
From 29 April 2016, a vendor selling a property in NSW with a swimming pool or spa pool must include one of the following in the Contract of Sale:

• A valid swimming pool certificate of compliance; or                                                    
• A valid occupation certificate issued under the Environmental Planning and Assessment Act 1979 (NSW) that is less than three years old and authorises the use of the swimming pool;  or
• A valid swimming pool certificate of non-compliance.