Family Loans – 3 Things You Should Know
- August 29, 2017
Since very early days, family members have often asked for, or offered inter-family private loans to assist with personal financial dilemmas. In present times with the ever rising cost of living/housing and other nasty events such as unexpected loss of employment or divorce/relationship breakdown, inter-family loans are consequently becoming far more common. Because the loans…
Testamentary Trusts- Are they a good idea?
- July 13, 2017
Testamentary Trusts – Are they a good idea? A Testator’s Testamentary Trust is a special type of Will. Financial planners often recommend them but what are they and are they a good idea? Normally, the Will appoints an executor and gives to that executor the power to gather in the deceased’s entire estate and distribute…
Your Questions on Wills Answered
- March 20, 2014
We regularly receive questions from clients about Wills. Why should I make a Will? If you don’t make a Will, your assets will be distributed to your surviving relatives according to a fixed priority ranking and none of your assets can even be distributed until one of your relatives obtains authority to do so via…
Using a Power of Attorney to make Family payments
- January 10, 2014
Drop into any domestic family situation anywhere in the world and a culture of “share and share alike” can usually be found. When the family is young, practically everything becomes “communal” except maybe personal clothing and sometimes even that! As the children grow up and parents grow old however, the money, property and favours that…
Death benefits in Superannuation Funds
- June 12, 2013
On the death of a loved one their estate is distributed in accordance with either their last will or according to the intestacy laws, as applicable. An application can then be made to the Supreme Court by eligible persons who seek orders altering the will or distribution pursuant to the intestacy laws. With regards to…
Family Loans and Gifts – Using a Will to Equalise benefits.
- June 12, 2013
Family Loans and Gifts – Using the Will to Equalise the Benefits Many parents of adult children often discover that although the children may have left the nest, the umbilical cord or supply lines sometimes remain firmly attached. Some families adopt great discipline in this area, ensuring that any advance made to assist one child…
Wills – Saving money on the lawyer might cost much more in the long run.
- September 21, 2012
When it comes to preparing Wills and making decisions about where a person’s assets are to be left after they die, there is, like most things these days, the temptation to shop around for the cheapest price. “Will Kits” can be purchased from newsagents for just over the cost of a takeaway meal and of…
What’s in a word?
- April 27, 2012
In the Italian language the word “perché” translates to mean both “why” and “because” in English. In Greek the word “love” translates out into four separate terms to cover a broad span of emotions ranging from “irresistible dedication” down to “just above like”. And for the Chinese the battle rages on between linguists as to…
What is an Advanced Health Directive?
- April 5, 2012
As the name suggests an Advanced Health Directive is a document which contains instructions about the specific health treatments that the document maker wishes to have performed or withheld in the event that that person requires medical treatment but is not able to communicate his or her specific wishes at that time. Under a standard…
Wills and the rules of construction – Gifts of Property
- April 2, 2012
As is often the case with poorly drafted wills, the Court is left to make an order as to the intention of the testator in circumstances where the testator is no longer able to give evidence. As a result, the Court has over the years developed various rules that are used in the construction of…