Wills and estate planning are necessary to ensure the transfer of your estate is done so that it may be passed on to meet the needs of those left behind.
Proper planning ensures their needs will be met:
- in accordance with your wishes;
- efficiently and at minimal costs; and
- avoiding the involvement of the courts whenever possible.
In addition to Wills and estate planning, Frichot and Frichot can also assist you with the administration of deceased estates, and providing quality advice on the handling of insurance, asset protection, business structures, personal liability, and trusts.
To ensure that you fully understand the nature and effect of your Will we strongly recommend consulting a lawyer in person, especially if your affairs are complex and require estate planning. At an Introductory Consultation with one of our lawyers we can provide you with expert legal advice if you:
- require estate planning;
- have identified the possibility of your Will being challenged under the Family Provision Act;
- intend to make a Mutual Will or enter into an agreement not to revoke your Will;
- intend to give your property away with certain conditions attached – for
examplerights to purchase or life estate interests;
- intend to create any testamentary trusts;
- intend to leave long lists of gifts or gifts to charity;
- have an interest in a family company, family trust, business or partnership;
- have a self-managed superannuation fund;
- own assets outside of Australia; or
- do not understand the English language or are unable to sign your name.
Following the Introductory
Enduring Power of Attorney
An enduring power of attorney is a legal agreement that enables a person to appoint a trusted person – or people – to make financial and/or property decisions on their behalf. An enduring power of attorney is an agreement made by choice that can be executed by anyone over the age of 18, who has full legal capacity.
‘Full legal capacity’ means that the person must be able to understand the nature and effect of the document they are completing and the nature and extent of their estate.
An enduring power of attorney cannot be made by another person on behalf of a donor whose capacity might be in doubt due to mental illness, acquired brain injury, cognitive impairment or dementia.
An enduring power of attorney can be operational while the person still has capacity but may be physically unable to attend to financial matters.
The benefit of an enduring power of attorney is that unlike an ordinary power of attorney, it will continue to operate even if the donor loses full legal capacity.
An enduring power of attorney does not permit an attorney to make personal and lifestyle decisions, including decisions about treatment. The authority of the attorney is limited to decisions about the donor’s property and financial affairs.
To cancel (revoke) the enduring power of attorney the donor must have full legal capacity. It is recommended that the revocation is made in writing. If the donor has lost capacity, an application must be made to the State Administrative Tribunal to decide if the enduring power of attorney should be cancelled (revoked).
The experienced lawyers at Frichot and Frichot can:
- provide legal advice on your personal requirements and the benefits (or risks) of making an enduring power of attorney;
- prepare your enduring power of attorney and arrange for it to be registered at Landgate (if required); or
- arrange for your existing enduring power of attorney to be cancelled (revoked).
Deceased estate property transfers
At Frichot and Frichot we can prepare your survivorship application, transmission application or transfer of land documents pursuant to a Will and lodge it at Landgate for registration. Our services include:
- preparing your survivorship, transmission or transfer under the terms of the Will and any necessary supporting statutory declarations;
- assist you to comply with Landgate’s verification of identity requirements;
- arrange execution of the documents;
- for transfers, arrange payment of transfer duty and endorsement of the transfer and notify the local authority, Water Corporation and the Office of State Revenue of the change of ownership; and
- lodge the signed documents at Landgate for registration.
Articles of Interest
Most people have heard of a Power of Attorney, however, most do not fully understand the extent of its power, the benefits it delivers or the types of Powers of Attorney that exist. A Power of Attorney is a useful legal document which can be used to authorise a person...
Once upon a time you were living together happily with your de facto partner. Roses were bought, dinners were cooked, finances were shared and Wills were signed leaving all your assets to your partner in the event of your tragic passing in years to come. Thoughts of...
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