Posts tagged Kate Alroe
BIG NEWS – Interest Rates Have Dropped!

The Reserve Bank of Australia has dropped Interest Rates to an all-time low! This means it’s the perfect time to look at purchasing your first property, refinancing your existing mortgage or having a close look at your property investments. So, what could that possibly have to do with Estate Law you ask?

Regardless of whether you’re thinking of purchasing, refinancing or even you already own a property, you need ensure you have all your ducks in a row. That’s right, we’re being Debbie Downers again and going to talk about if something were to happen to you and your family if you have a property (and like most of us, a mortgage). What you do now, can have certain impacts on you and your family down the track if the worst was to happen.

It’s a simple answer, you need a copy of the Will. However, what is often not so simple is whether you are legally entitled to a copy of the Will and if you are, how do you obtain a copy?

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Who and How – obtaining a copy of someone’s Will

After a loved one passes away questions arise about the deceased’s wishes. Who did they want to their Estate to go to? Did they want to be cremated or buried? Who do you need to talk about the funeral arrangements? Have they left someone out of their Will? The Executor of a Will is the person tasked with making sure the deceased’s wishes are followed – but what if you’re not the Executor and you have these questions?

It’s a simple answer, you need a copy of the Will. However, what is often not so simple is whether you are legally entitled to a copy of the Will and if you are, how do you obtain a copy?

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Financial Agreement vs Consent Order

Lately at KLP we have seen an influx in Financial Agreements – also known as Binding Financial Agreements or “BFA’s” - being prepared by other firms. When asking client’s if they are aware why their former spouse has had a Financial Agreement prepared, as opposed to the more common option of Consent Orders, the response is often “the Bank said we just needed something in writing”, “we’re amicable” or “we want something simple”. However, none of these responses answer the question.

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