When it comes to nominating a friend as an executor most people have a whole raft of thoughts, feelings, and considerations the people who nominate a family memeber don’t seem to have. The biggest one is how to nominate a friend as an executor or substitute decision maker without being a burden. Like “Don’t be a burden.” is a very important clause in the rules of friendship – but not so much when it comes […]
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Being a good shareholder is about more than just managing assets – it’s about ensuring a smooth transition if your family will be managing deceased estate shares. I’m excited to be partnering with Jon Moses, a specialist deceased estate stockbroker (and great human), from JM Invest. I asked Jon what it takes to be a good dead shareholder and he didn’t just answer the questions, he came through with all the information. If you’d like
Deceased Estate Shares Read More »
When I talk to people about their expectations around estate administration I take the time to explain that managing a deceased estate is an honour, but it also has the potential to be hard (not always but sometimes). Like having a baby or getting married or deciding to retire and spend all day with your beloved – nobody wants to tell you it might be difficult beforehand or you wouldn’t sign up for it. Managing
Expectations of Estate Administration Vs Reality Read More »
As a business owner, farmer’s wife, and farmer’s daughter I understand how difficult it is to separate the business from the person – the years of hard work, financial investment, and emotional commitment make it particularly hard to imagine there being a day where your business and life aren’t extricably linked. Unfortunately many business owners die or become incapacitated without ever getting around to formally addressing the succession of their business. Just as most entrepreneurs
Business Succession Planning Read More »
It never ceases to amaze me that in our fear of talking (or even thinking) about death, we’ve created a vacuum where we’re blindsided by how emotionally and physically taxing it is to care for someone who is dying. People often tell me they don’t want to burden their family with the messy, emotional heavy lifting of death. Forgetting that even if their dying happens away from home – in a hospice, hospital, or residential
Your estate is the total of everything you own, including money, assets, investments, property and debts. Your will is the documentation that outlines what you want to happen to all of those things when you die. Whilst a will is an important tool, estate planning is about so much more than just making a will. Why do I need a will? A will enables you to specify how you want your assets distributed after you
Estate Planning Vs Writing A Will Read More »
Including a Discretionary Testamentary Trust in your will offers your beneficiaries more choice about how they receive their gift, whilst providing significant asset protection and tax advantages. Yet many people are unaware the process is as simple as setting up the ‘rules of the trust’ as part of their estate planning. How does a Testamentary Trust work? Unlike an Inter Vivos trust (a trust set up and operated in your lifetime, such as a Family
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A Grant of Probate is recognition from the Supreme Court that a will is valid and that the person or people named in the Grant are authorised to deal with the estate. If the deceased doesn’t have a will an application for a Grant of Letters of Administration can be applied for by a lawyer of your choice. Below we’ve listed our 10 most frequently asked questions about applying for probate. 1. What is a
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An executor is the person (or people) nominated by a willmaker responsible for managing distribution of assets and carrying out directions when someone passes away. Below is a step-by-step guide of the duties of an executor. 1. Decide if you wish to take on the role of executor Being an executor is not just an administrative role but also a deeply personal one where you will be required to make heart-led decisions on behalf of
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If you’re waiting until life settles down or you get all your ducks in a row before doing an estate plan. Chances are high you’ll die waiting. There’s no perfect time to write your will – except right now. Life has a way of turning out different to what we imagine. We see it all the time. We experience it all the time. And yet we’re surprised by it. All the time! If you’re waiting
Life Doesn’t Need To Be Perfect To Do Your Estate Plan Read More »