In part one of our series on Trusts, we explore the unique challenges faced by blended families. Picture your family trust as a citadel protecting your hard-won assets - but what happens when new family members enter the picture? Through the story of David and Jane's blended family, we illustrate how seemingly innocent actions can inadvertently create legal claims on trust assets.
A recent Supreme Court case, known as the Alphabet Case, tackled the complex question of how far a parent's legal responsibilities extend, particularly when family assets are placed in trusts. The Court confirmed that while parents have special legal duties to their children during childhood, these obligations usually end when children become adults. Find out what this important case means for family trusts and how potential law reforms could affect your estate planning.
While retirement facilities offer attractive lifestyle options, understanding your legal rights is crucial. Unlike traditional home ownership, retirement village residents don't own their units outright but instead operate under an Occupation Right Agreement (ORA). With the Retirement Villages Act now 24 years old, significant reforms are being proposed to better protect residents' interests. Learn what these proposed changes could mean for current and future residents.
When a parent dies and leaves their child or children out of their will, those children are entitled to bring a claim against their parent’s estate under the Family Protection Act 1955 (FPA). While a financially stable adult child may not have a claim to a large proportion of their parent’s estate, they will usually still have a claim for ‘recognition.’ The same is not true for children claiming against the estate of a stepparent.
Financial pressures on families during the cost-of-living crisis have escalated. Organisations that support the elderly are reporting elder abuse is on the increase.
It has been said that preparing for death is an act of love. Think of it as a gift to those you are leaving behind. It can bring clarity for loved ones during an emotional and challenging time and ensure your wishes are carried out. It doesn’t have to be a difficult process, so don’t put it off.
