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PRUDENCE — Sagacity. Wisdom. Protection.

Legal Consolidated publishes PRUDENCE each week. It is emailed to accountants & financial planners. But anyone can join the free mailing list.

Do you have the mental capacity to sign a Power of Attorney?

In the intricate web of Australian law, few legal matters carry as much significance as the capacity to create enduring powers of attorney (EPOAs) and the capacity to revoke them. These legal instruments empower individuals to name someone to manage their…

Keep It Super Simple: SMSF Essentials

I am honoured to have joined forces with well-known and award-winning authors Barbara Smith AM and Dr Ed Koken to produce the fully revised book: Keep It Super Simple: SMSF Essentials . This practical, plain English guide is a valuable tool for everyone…

Mental capacity when signing a Will and other legal documents

Am I sound mind enough to sign a legal document or a Will? Do I have the mental capacity to sign a legal document? Is it assumed I am of sound mind when signing a Will? Yes. There is a presumption of sanity. It applies to all deeds and gifts signed by you…

What happens when a director dies? Company succession planning

At death, your shares in a company go into your Will. Your shares are part of your deceased assets. Your executor in your Will looks after the shares and the company. The executor does this in the best interest of the beneficiaries named in your Will. The…

Are funeral wishes in a Will legally binding?

The funeral wishes in your Will are not legally binding. Your executor is not required to follow them. Do not clutter your Will with directions for your funeral and remains. Your Will has to take a journey. It goes to the Supreme Court Probate office for your…

The curse of the homemade Post Office Will

Master Sanderson, Rogers v Rogers Young [2016] WASC 208 stated: "On numerous occasions when dealing with so-called homemade wills, I have observed they are a curse. Homemade wills which utilise what is sometimes known as a ‘will kit’ are not much better. This…