We
hope you find the following Questions and Answers of assistance.
Please Contact Us with any Questions that may not be answered
here.
| Q |
How
can a SeniorLaw Lawyer help you? |
|
| A |
At
SeniorLaw Sydney our lawyers value your rights
and status. We have the legal experience and
work ethic to promote your new business or
retirement, to ensure that you enjoy legal
protections offered to seniors and you understand
often complex new areas now facing you as
you head past the 50's. This often includes
assisting family members as well.
To
be a competent SeniorLaw solicitor requires
many years of experience in numerous areas
of law. Personal qualities are also essential
to ensure clients feel comfortable from the
very first meeting. In addition we:
 |
endeavor
to offer quality services that are value
for money, |
 |
explain
issues to your complete understanding,
and |
 |
are
readily accessible even after hours for
emergencies or by office, home or hospital
visits if required. This is the true meaning
of personal service. |
|
| |
Back
to Top |
|
| Q |
What
is the difference between a Power of Attorney
and an enduring Power of Attorney? |
|
| A |
The
key issue here is legal capacity. When a person
creates a general Power of Attorney and subsequently
loses capacity this will automatically revoke
the Power of Attorney. However if the giver
of an Enduring Power of Attorney loses capacity
it cannot be changed but it does remain in
force until the giver of the Power dies. |
| |
Back
to Top |
|
| Q |
I
made a Will 10 years ago but remarried last
year. Should I make a new Will? |
|
| A |
Yes
you should make a new Will without delay.
Your marriage last year automatically revoked
your Will. In fact you no longer have a valid
Will and if you passed away your estate would
be distributed according to the rules of intestacy.
|
| |
Back
to Top |
|
| Q |
Are
Advance Care Directives binding? |
|
| A |
Many
people choose to complete an Advance Care
Directive to provide directions for their
medical care. In New South Wales this has
the power of a direction only and is not binding
by statute law. However it carries the weight
of common law and may assist the medical profession
in times of need. |
| |
Back
to Top |
|
| Q |
Can
beneficiaries witness a Will? |
|
| A |
No
– if a gift is made by Will to a person
who witnesses the Will or to that person’s
spouse, except in particular circumstances,
the gift is void. |
| |
Back
to Top |
|
| Q |
What
happens if an asset is not included on the Statement
of Assets and Liabilities lodged with the Probate
application? |
|
| A |
An
Executor is required legally to disclose all
assets and debts of the deceased person that
he or she is aware of when completing this
form for the Probate application. If the Executor
becomes aware of another asset an additional
disclosure to the Probate Court must be made.
The Executor cannot deal with the asset until
it has been disclosed. |
| |
Back
to Top |
|
|
| A |
Yes
you can change or alter your Will at any time.
Your ‘last’ Will comes into effect
when you die. You cannot make the alterations
simply by writing on your Will. If the change
is minor a Codicil executed in the correct
manner can be made. If the changes are substantial
it is recommended you arrange for a fresh
Will to be drafted to avoid any possible confusion.
Regular reviews of your Will should be made
in any case and a fresh Will made following
any major life event e.g. divorce. |
| |
Back
to Top |
|
| Q |
My
son has a gambling problem. How can I leave
him part of my estate and prevent him frittering
away his inheritance? |
|
| A |
Situations
such as this can be controlled by establishing
a trust within your Will. After your death
your son’s share of the estate could
be held on trust for him and in your Will
you could direct the Trustee to pay installments
for example as your son reaches different
ages. |
| |
Back
to Top |
|
| Q |
Can
a de facto partner make a claim if left out
of a Will? |
|
| A |
Yes
a de facto can make a claim against a Will
in the same way as a legal spouse. Talk to
us to see if you meet the definition of a
de facto partner. Changes to the law mean
same sex partners may also have the same entitlements
as other de facto partners. |
| |
Back
to Top |
|
| Q |
What
happens if I don’t make a Will? |
|
| A |
In
this case the law provides a formula to work
out who inherits your assets. If no claimants
exist your assets will pass to the government.
If you believe you may be a potential beneficiary
see us to discuss your claim. De facto partners
are included in the intestacy formula.
Many people do not realise the problems created
if a childless husband and wife die together
without having made valid wills. If the husband
dies instantly and the wife dies later on
in hospital everything goes to the wife. But
because the wife has not survived, both the
husband’s assets and the wife’s
assets will now be inherited by the wife’s
next of kin. The intestacy formula would not
apply to the husband’s next of kin and
they inherit nothing. We encourage you to
make a valid Will to avoid these pitfalls
for your surviving family. |
| |
Back
to Top |
|
| Q |
Do
I have total freedom of choice to decide who
inherits my estate? |
|
| A |
If
you leave your spouse/ de facto or children
without ‘adequate provision’ in
your Will, after you die your executor may
be faced with a legal challenge to your Will.
You may wish to discuss this is more detail
with us to minimise the risk. Alternatively,
if you feel you may have a claim because you
have not been adequately provided for under
a Will, you should consult us without delay
as time limits do apply. See our feature article
on the Family Provision Act.We will discuss
with you whether you meet the legal definition
of an ‘eligible person’ who can
make a challenge under the Family Provision
Act. |
| |
Back
to Top |
|
| Q |
I
was recently divorced. Do I need to make a new
Will? |
|
| A |
Under
NSW law, divorce does not automatically cancel
your Will. As far as gifts are concerned it
only revokes any gift you made to a former
spouse in your Will. All other gifts remain.
However we advise you to make a fresh Will
at this turning point in your life. |
| |
Back
to Top |
|
| Q |
Do
I still need a Will if I hold all my assets
in a joint tenancy? |
|
| A |
Even
though the assets would pass by survivorship
to your surviving joint tenant, you should
have a Will to cover other situations that
may arise. If the other joint tenant dies
before you the assets would pass under the
terms of your Will, or under the rules of
Intestacy if you don't have a Will.
|
| |
Back
to Top |
|
| Q |
We
are thinking of selling our house and buying
a smaller unit. Where do we start? |
|
| A |
First
of all do not sign anything before talking
to us. We can make this a smooth transition
for you by helping you avoid many common problems.
We will draft a Contract for Sale for you
as this must be available for inspection before
your property can be offered for sale. We
have acted in property matters for over twenty
years and our extensive experience assures
you of excellent representation. We will clearly
explain the steps of the transaction and ensure
you are comfortable with the time limits of
the sale.We will also act for you on the discharge
of any mortgage registered on title at no
extra cost. If you are thinking of buying
a strata unit we will explain the legal issues
of strata title and also look at any lifestyle
restrictions that might apply, for instance
the keeping of pets. In addition to completing
all legal formalities for the transfer of
title into your names we want to ensure you
are happy in your new home.
|
| |
Back
to Top |
|
|