When you're new to homeownership and seeking to secure your first property, you may be dazzled by the different terminology you come across and wonder how they may affect your purchase. In particular, you may see that a specific property is affected by an "encumbrance," so what does that entail? Handling Third-Party Interests An encumbrance is a claim on a property by a third party, not the owner. In its most common form, it'll be a mortgage or lease, which will need to be discharged at settlement, so you do not take that on as a debt. [Read More]
Why Choosing an Executor Is Often a Tough Task
If you have a complex estate and a number of dependents, you're advised to create a will as soon as possible. Within this document, you will outline how your estate is going to be distributed following your death and give some other instructions as and when needed. While there may be quite a lot of work involved in crafting this document in your situation, you should also give some attention to who will handle it. [Read More]
In a Divorce Separation, Are the Opinions of a Child Paramount?
Most people understand that an Australian family court will place the needs of any children front and centre when looking at parenting arrangements. Yet does that mean that the court will consider the children's views paramount and always go along with them? Through a Lens It's important to understand the principles involved and that underline the various laws and regulations. While the court will pay great attention to the best interests of the children, they will do so through a particular lens. [Read More]
How Complex Can It Be to Deal With a Deceased Estate?
If you've been given the responsibility of handling somebody's estate following their sad demise, you may have a lot on your plate. If this person had a particularly complicated life with many assets and numerous beneficiaries, there is indeed a lot of work involved. What are some of the challenges ahead, and how can you begin to deal with this important work? Initial Formalities Before you can begin the work of distributing the estate, you first need to ensure that all formalities have been taken care of. [Read More]