Latest articles
Important points relating to wills and enduring powers of attorney
Friday, 23 December, 2011
Author: Annette Edwards
There are some important facts of which everyone should be aware in respect of wills and enduring powers of attorney. For example, getting married or entering into a civil union will invalidate a will unless the will was made in contemplation of the marriage or civil union. Separation does not have the same effect. It is therefore important to take advice when significant events occur to ensure that the law will uphold your intentions.
Gifting and entitlement to residential care subsidies
Thursday, 17 November, 2011
Author: Jillene Peters
A recent change to tax law abolishing gift duty now makes it easier for people to divest themselves of property. However, social welfare law governing eligibility for residential care subsidies has not changed. Gifting property in the belief that this will enable you to qualify for assistance from the state for the cost of residential care may not achieve this goal and may, in fact, leave you ineligible for a residential care subsidy and without assets to enable you to support yourself. It is essential that you seek professional advice before gifting assets to a trust or family member.
