Szabo & Associates News & Updates

In New South Wales, under the Real Property Act 1900, it is possible to obtain ownership of a property if a person has remained in the property for a minimum of 12 years. In that time, they must have had factual possession and have demonstrated a clear intention to possess the property. Factual possession means physical control over a property. This can include the changing of locks, repairing the property and paying bills.

Important though it is, estate or inheritance planning is more than just having a Will. Planning needs to ensure that your assets are structured effectively so that they can be passed on to your chosen beneficiaries.

Background

Superannuation is a major asset of many Australians, and consequently, it has a crucial role in effective estate planning. In that context the importance of controlling self-managed superannuation funds (SMSF) is axiomatic.

Background

The Supreme Court of NSW recently removed a co-executor to an estate so that the administration of the estate could be finalised. The case of Wise v Barry: The Estate of Robyn Margaret Wise (2018) NSWSC 1726 demonstrates the importance of those making a Will choosing executors with care. Failure to do so increases the risk of disputes leading to delays and extra costs. But who do you choose?

NSW Trustee and Guardian (NSWTG) has officially apologised to the family of Steven Colley, a 57-year-old disabled man from Kingscliff, who died in squalid conditions after the NSWTG did not respond to repeated requests to repair the property.