What is a will?

It’s a document that sets out how your property is distributed when you die. The purpose of a will is to make sure that the right person gets the right property and there is no dispute. If you don’t have a will then the law says how your property is distributed. This may be different to what you would want or it may be a more expensive way of achieving the same thing.

Even when people take out wills, many people who think they have provided for beneficiaries in the way they intended are unaware of the pitfalls that can arise if a will is not prepared correctly.

What is an estate plan?

A will is often part of an estate plan but an estate plan also looks at other assets that can’t be dealt with in a will. This might include superannuation or a business or a trust. The purpose of an estate plan is to make sure that all of your property no matter how you own it ends up with the right people in a tax effective way.

What is estate administration?

It’s the process of putting a will into effect. It includes obtaining probate, finding assets, transferring or selling them, paying debts and making sure that everything is finalised. Sometimes it’s relatively easy and sometimes it is not. Whether easy or hard it has to be done properly or the executor can be liable or people can miss out on what is rightfully theirs.

We’ve written some articles below about wills, estate planning, estate administration, and some of the issues that arise in these areas.

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27/03/2020

Parenting After Separation: The COVID-19 Edition

At FGD we understand that the current living arrangements are tough on parents and children – and particularly those from families with separated parents. In order to help you arm yourself with some information and hopefully avoid conflict over the coming days and weeks we have put together some answers…

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17/03/2020

A message from FGD CEO on our response to Covid-19

FGD always has the health and well-being of our employees, clients and communities at the front of mind, however at this uncertain time with the now escalating COVID-19 health crisis, I wanted to touch base personally. This is an uncertain and worrying time for us all. Whilst we do not…

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05/03/2020

Farrar Gesini Dunn Footy Tipping Competitions 2020

You’re invited to join the Farrar Gesini Dunn footy tipping competitions for 2020. Two codes and a luxury escape for each of the competition winners.

The two competitions we will be running are for the NRL and AFL.

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15/11/2019

Do grandparents have rights?

By Kasey Fox Family Lawyer Kasey Fox discusses what the law says about the rights of grandparents to have a relationship with their grandchildren Do grandparents have rights? Recently, while watching a reality tv show (don’t judge me) I heard someone arguing about “Grandparent’s Rights”. A short while later, another…

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