Binding Death Benefit Nominations: Known as a Will for superannuation assets

In its simplest form, superannuation is a regular payment by an employer (and/or perhaps by the relevant employee) to a superfund, to be held on behalf of that employee, as savings for a future pension. Superannuation is not an estate asset. Accordingly, on a person’s death, superannuation is not automatically covered by their Will, and… Read More

Updates on the latest Owners Corporation changes

The Owners Corporations and Other Acts Amendment Act 2021 (Vic) (“OC Amendment Act”) has now passed Victorian Parliament, and will take effect from 1 December 2021, with a number of changes to the current Owners Corporation Act 2006 (Vic) (“current OC Act”). Setting up the most appropriate owners corporation structure in developments has become increasingly… Read More

Can you help me understand how a discretionary trust works?

It is very hard for many people to understand the concepts behind a trust. The concept has a long history and development, and some of those legal concepts can be confusing. It can be especially difficult when the trustee of the trust is a company. What is a trust? Essentially, a trust is an arrangement… Read More

 The basics: What is a Will and why do I need it?

What is a Will? In its simplest form, a Will is a legal document by which a person expresses their wishes as to how their property and possessions are to be distributed upon their death. Anyone over the age of 18 can make a Will, and you may make more than one Will in your… Read More