For many people, estate planning can be a difficult subject to discuss. It is unsurprising then that this particular issue lacks priority in people’s fast-paced lives. All too often, decisions concerning Wills and the distribution of estate occur when emotions are running high. Take the time to review or prepare your estate planning to ensure some peace of mind for the important people in your life.
On 8 December 2017, Australia celebrated as same-sex marriage officially became law. On the following day, the laws took effect. But what does this mean for estate planning?
The laws relating to medical treatment decision-making are about to change significantly with the commencement of the Medical Treatment Planning and Decisions Act 2016 (the Act).
The Act aims to consolidate and streamline existing laws so that all aspects of current and future medical treatment decision-making for people lacking the capacity to make decisions will be dealt with exclusively under the new Act.
On 1 November 2017 new intestacy rules come into force. These changes significantly affect the rights and entitlements of partners and children whose loved ones die without leaving a valid Will. These rules will also have the effect of increasing the likelihood of a deceased’s assets passing to the State, where there is no valid Will or close relatives.