Creating a valid Will is one of the most important steps you can take to ensure your assets are distributed according to your wishes when you pass away. But the process doesn't end with signing the document. Equally important is ensuring your original Will is securely stored. Unfortunately, many people keep their Wills at home, unaware of the serious legal and practical risks this presents. In this article, we explain why it's strongly recommended to store your original Will with your lawyer and the potential consequences of storing it at home or in an unsecured location.

When a person dies without leaving a valid Will, they are said to have died intestate. In Western Australia, an intestate estate is administered in accordance with the Administration Act 1903 (WA), which sets out who is entitled to administer the estate, and who is entitled to benefit.

With an increase in blended families and the breakdown of relationships in recent years, asset protection strategies are more important than ever. One option which presents itself as not only a dispute resolution or family law property settlement solution, but also as an asset protection mechanism, is the legal document known as a Binding Financial Agreement.

In order to have a child's passport issued, the written consent of both parents is required when making an application to the Department of Foreign Affairs and Trade. Where parties are divorced or separated, this can be a difficult hurdle to overcome, especially where parents are not on good terms or where a parent is living overseas.

Every person over the age of 18 must ask themselves two questions:

1. What happens to my assets when I lose my legal capacity through injury, disability or disease; and

2. What happens to my assets when I die?

A recent decision of the Western Australian Supreme Court of Appeal in Caratti v Commissioner of State Revenue (WA) [2017] WASCA 128 held a property was to incur land tax because a Will by its terms did not expressly give a beneficiary right to use it as their primary place of residence.

Good Will & Estate planning can provide you and your loved ones with the comfort and security of knowing that your estate will be distributed in accordance with your preferences. An important but often overlooked consideration in Wills & Estate planning are the tax implications for beneficiaries.

The Department of Commerce deregulated settlement agent fees for transactions signed after 3 February 2016. There is however a grace period of three months in place to allow the conveyancing industry to adjust to the new procedures.

Settlement agents and customers can now freely negotiate a fee taking into account complexity and other relevant factors.

A restraint of trade is defined as a limiting covenant that influence future activities.

The Courts have a wide discretion to determine the extent of such provisions, and deal with the facts of each individual case. It is also important to seek timeous legal advice as the restraint is judged whether it was reasonable at the time of the agreement.

Good estate planning will ensure your assets go to the people that you want to benefit when you die. A large part of good estate planning is having a valid and up-to-date Will.

It is also a good idea to have documents in place to direct what will happen to you and to your assets when you lose your legal capacity due to an unexpected injury, disability or illness.

A range of do-it-yourself Will booklets have sprung up in recent years, giving the public seemingly cost effective options to draft their own Wills.

It could be argued that something is better than nothing when it comes to indicating how you want your estate to be divided up. While these DIY options may appear straightforward and legal, think of your beneficiaries and intended executors, who will have to deal with the consequences if your DIY Will is defective. What seems like a good way to save money now can result in an expensive, emotional, and destructive experience for those you leave behind.

A range of do-it-yourself Will booklets have sprung up in recent years, giving the public seemingly cost effective options to draft their own Wills.

It could be argued that something is better than nothing when it comes to indicating how you want your estate to be divided up. While these DIY options may appear straightforward and legal, think of your beneficiaries and intended executors, who will have to deal with the consequences if your DIY Will is defective. What seems like a good way to save money now can result in an expensive, emotional, and destructive experience for those you leave behind.