Personal possessions – interpreting their meaning and entitlements
Leaving gifts of personal possessions seems easy to do – until someone else has to interpret what was meant in the words used in the will.
wills
Wills and forgery in ancient times
Forgery of a will was of great concern for the ancients. Emperor Nero established the technique of will piercing, tying with ribbon and adding stelae.
A family tree can be useful, with or without a will
A family tree outlining close family/next of kin relationships is useful in preparing to make a will, and as a reference in situations of intestacy.
Enduring power of attorney – some considerations
To permit another person to look after your finances, money and property if you become mentally incapacitated may be done by authorising them with the power to do so under an enduring power of attorney document. This arrangement is lasting unless cancelled, before losing capacity. It is important to consider the effects of this document, what it can do and who you want to give the power to.
Who can make a will?
Who can make a will to dispose of their property? Who can make a will? To make a will a person must be an adult and have the required mental capacity. A will made by a minor, being under 18, is generally invalid under State and Territory wills and succession legislation. Exceptions relate to contemplation of marriage, or altering or cancelling a prior will. If the contemplated marriage does not take place, the will is invalid. The court may authorise a minor to make, alter or cancel a will.
Tenancy & co-ownership: jointly owned or in common?
Many people own property with someone else. An important issue to consider upfront are what happens when one of them dies. Who can take their interest, is this what they want and if not, can they make provision for it in their will?