Biz Lawyers & Advisory

Could you afford a $100,000 MISTAKE in estate planning? 😣 Here's a WAKE-UP call for all of us.   Our client, a man in his 40s, lost hundreds of thousands of dollars due to his father's outdated will.    Their plan to share a family home changed, but the will didn't. ❌   When the father passed away, legal battles over the house led to a hefty $100k stamp duty bill.    All because of a conversation they NEVER had.    This story teaches us 1️⃣ thing 👇    Discussing and updating your will isn't morbid.   It's an act of love, ensuring your wishes don't become a financial burden for those you leave behind. ❤️🩹   So, don't wait. The right time for the "TALK" is now.    P.S. Is your family's estate plan current, or could it use a heart-to-heart and a legal review?   #estateplanning #willsandtrusts #familylegacy #legaladvice #protectyourlegacy

What if the ONE decision you postponed became the regret of a lifetime, all because you thought you had more time? 😨   This was almost the case of a couple in their 60s who, after decades, decided to update their will and establish an enduring power of attorney.    Our estate planning process began with understanding their wishes, but after drafting the necessary documents, we hit a wall—the couple delayed signing. ✍️   Life, as it often does, threw a curveball.    The wife's sudden battle with aggressive cancer highlighted the urgency of having these documents in place. 📃   Fortunately, the wife's health improved, and they returned to finalise their estate planning, a close call that brought relief and peace of mind to everyone involved.   The key takeaway? DON'T DELAY. ❎   Ensure your will, power of attorney, and guardianship documents are signed and in place.    Life is unpredictable, and securing these documents provides peace of mind for yourself and your loved ones. 💝   P.S. Have you taken steps to ensure your estate planning is complete and up-to-date?   #bizlawyersadvisory #estateplanning #enduringpowerofattorney #legaladvice #estateplanninglawyer

Richie Benaud, legendary cricketer turned iconic commentator, left a legacy MORE complex than his famous voice. 🎤   His passing sparked a dramatic legal battle over his estate involving his first wife, Marsha and son Greg.    Despite his substantial assets, Benaud's will excluded Marsha and Greg, leading to a challenge under the Family Provision Act.    THE KEY TAKEWAYS? 👇   Regularly update your will, consider all family members, and seek expert legal advice to prevent disputes. ✅   This story isn't just a lesson in law.   But a reminder of the human side of estate planning: balancing legal necessity with fair provision for loved ones.    P.S. In cases of estate disputes, would you prefer mediation or a court battle? Why? #bizlawyersadvisory #lawyertips #will #strategy #richiebenaud

Happy New Year! Our office is open and we look forward to working with you in 2024.

Celebrities are just like us in many ways 🎥 even when it comes to estate planning. Take the famous actor, Heath Ledger, for instance. Did you know that he faced a major estate planning oversight? In 2003, at the age of 23, he made a will, leaving everything to his family. 📃 But life changed - he welcomed his daughter Mathilda in 2005 and never updated his will to include her. 👶 When he passed away, his outdated will could have left Mathilda with nothing. Luckily, Ledger's family stepped in to ensure she was cared for. This story highlights a crucial LESSON for all of us: Always update your will to reflect life's changes. 📝 Have you reviewed your will lately? What changes have you experienced that might prompt an update? #bizlawyersadvisory #heathledger #lawyertips #will #strategy 

What happens when someone passes away? 🤔 Well, let me give you a glimpse into the life of an EXECUTOR.    They organise the funeral, manage bills, find the will, and identify assets and debts.   Sometimes, they consult experts for probate and defend challenges to the will or debts. 💰   Once probate is granted, they ensure assets are distributed according to the will, handle tax returns, and make distribution payments.   Being an EXECUTOR is a significant responsibility.    Have you ever been involved in this role or know someone who has? #bizlawyersadvisory #executor #lawyertips #will #strategy 

Is your will up-to-date? 📃 Life is ever-changing, and so SHOULD your will be.    If it doesn't reflect recent life events or circumstances, it might leave room for disputes.    In Biz Lawyers & Advisory, we work with clients to anticipate and mitigate potential challenges, like surprise claims by distant relatives or unexpected parties.   Whether adding a clarifying note or modifying asset distributions, we ensure your will clearly communicates your desires. 💯%   Now, isn't it time to give your will the attention it deserves? How recently have you reviewed yours? 🤔   #bizlawyersadvisory #lawyertips #will #strategy 

Did you know separation doesn't change your WILL, but divorce does? 📃 If you've divorced, your ex-partner shouldn't remain as your executor or beneficiary. But your will remains unchanged during the often lengthy period between separation and legal divorce (which can be 12 months or more). 📅 This means if you've designated your soon-to-be-ex as the executor, they will have that authority. If you've left assets to them, they'll still receive them. Not the outcome you'd expect during a separation, right? Isn't it time to revisit your will during this crucial transition? What are your thoughts? 🤔 #bizlawyersadvisory #lawyertips #separation #divorce #will

In an era where cutting-edge AI can flawlessly merge one person's face onto another in videos 📹 the line between reality and manipulation is blurrier than ever.    Imagine being in a meeting where someone appears to be you, conveying things you'd never say.    With no lawyers or witnesses, who's to challenge the authenticity? 🤔   So, what's your best defence against such potential misuse? Opt for a traditional written will, endorsed by two adult witnesses.    If in doubt, consult a LAWYER. ⚖   They'll shed light on why DIY will kits don't cut it and highlight the grave risks of relying solely on video wills — the gravest being that your genuine wishes might never see the light of day. #bizlawyersadvisory #lawyertips #AI #videowill #willrisks