There are things that you need to consider carefully before you make a Will including:- what assets do I own? what assets do I control but not own? who should be in my thoughts when making a Will? who are my family members and who are my dependants? do I want certain items to go to particular people? who will administer my estate and ensure that my wishes are carried out – not merely to the letter but also in spirit? what are the consequences of me making a Will in the terms

‘Horrifying’ - the very high numbers in the 18-25 age group, when it comes to serious impairment or death from accidents.   ‘Unimaginable’ - the difficulties for parents who have to suddenly manage life with a young adult child who has lost decision making capacity or worse still manage the estate of a child lost to them.   Coping with those difficulties is made worse, sometimes beyond belief, if the child doesn’t have an Enduring Power of Attorney (EPA) or a Will.   Parents

You were chosen by the will maker to be the Executor  of their Will.  You have collected all the assets, paid all the liabilities and the estate is ready to distribute.  You have properly carried out your duties and the job is nearly done.  Note however that once the estate is fully distributed, the reality is that you lose access to the estate fund with which to defend your actions as Executor should a claim be made by an unhappy beneficiary. In more complex or valuable esta

Losing a loved one is a very difficult time.  The sadness and stress of your loss can often leave family members feeling overwhelmed when trying to deal with their loved one’s  Estate . Asset holders such as banks, share registries and nursing homes each have their own requirements which must be satisfied before they will release the assets of a deceased person, with many asset holders requiring a certified copy of Letters of Administration or a Grant of Probate.  So, what do

Effect of marriage on your Will. You’re preparing for your wedding and planning your future together. You may be looking at wedding venues, buying your first home, and deciding on where to go for your honeymoon. But have you updated your Will? No doubt you want to provide for and protect your new spouse, and updating your Will is a critical step in planning for your future. Marriage and your Will As a general rule of thumb, you should review and update your Will about every t

When most people think of a de facto partnership, they think of a couple who live together and are not married.   While that is correct, in the eyes of the law, that is not entirely the case.   In fact, sharing a house or even a room (with your partner) does not necessarily mean that you will be considered a de facto partner should one of you pass away, and therefore entitled to the deceased’s Estate.   When assessing if you were or were not a de facto partner, the court take

if you bring a Family Provision Application you must prove that you need further provision from the estate to meet the costs of your proper maintenance and support.  So what factors are relevant and what does ‘proper maintenance and support’ mean? Is your entitlement reasonable? The Court will have regard to a range of factors when considering whether the provision you are to receive from the estate (if any) is reasonable in the circumstances, including: Size and extent of es

Acting as an Executor, while an honour, can at times be an onerous task.  Often it is not until a beloved family member or friend passes away and the estate administration work begins, that the enormity of the task is recognised. At MMLaw we assist Executors at every stage of the administration process to make the task as simple as possible, while ensuring that Executors fulfill their obligations and their exposure to personal liability is minimized as far as possible. A gene

When you make a Power of Attorney it can be made in different ways. The principal rule is that when you make a Power of Attorney it must be made in the approved form pursuant to the provisions of the Powers of Attorney Act 1998. However certain Powers of Attorney will be valid as long as there is substantial compliance. It is important to recognise that with most Powers of Attorney the formal requirements to create the Power of Attorney must be strictly adhered to. This inclu

When someone sets up a trust, often to support their children or family members after they're gone, they usually name a trustee to manage it. On the surface, it might seem like a straightforward job: look after the money, make sure it grows, and eventually pass it on to the right people. But being a trustee isn’t just about balancing the books. It comes with serious responsibilities, especially when the people relying on the trust are children or otherwise vulnerable. Looking

While yes, your investments such as shares and cryptocurrency make up assets of your Estate, there are particular challenges with the digital currency that have serious consequences on your Estate Planning and Administration.   Cryptocurrency is considered, for all intents and purposes, property and therefore an asset of your Estate and can thus be gifted and dealt with like any other asset. However, the main issues arise when locating the crypto, accessing the wallet and sel