Why would you need a power of attorney?
In the past, powers of attorney were mainly used for very specific purposes. For example, if you went overseas, you could give someone your POA to handle the sale of...
Read MoreWhat does a POA do?
An attorney can handle various aspects of your financial affairs, such as property management, banking, and investments. For example, your attorney may: In doing the above, the attorney must manage...
Read MoreWhat is the difference between a general power of attorney and an enduring power of attorney?
A general power of attorney is only valid while you are of sound mind. They are usually used for a specific purpose e.g. to sell a property, or for a...
Read MoreWhat is an enduring power of attorney?
An enduring power of attorney is a legal document that permits you to nominate someone you trust to make financial decisions on your behalf if you become mentally or physically...
Read MoreWhat is a power of attorney?
A power of attorney (POA) is a document that enables the person (or persons) of your choice to act in your place and do the things you would normally do...
Read MoreHow much does a testamentary trust cost?
The cost of setting up a testamentary trust depends on your circumstances and legal requirements. At Turnbull Hill Lawyers, we offer a free initial phone consultation to discuss your situation,...
Read MoreCan a testamentary trust be contested in NSW?
Yes, a testamentary trust can be contested since it is created through a will. The Supreme Court has the authority to reclaim assets allocated to the trust for redistribution among...
Read MoreCan I establish more than one testamentary trust in my will?
Yes. There is no legal limit to how many testamentary trusts a will can establish. Ideally, a will would establish a separate trust for each beneficiary.
Read MoreHow do I establish a testamentary trust?
Setting up a testamentary trust tends to involve the following key steps:
Read MoreWhat types of assets can be held in a testamentary trust?
A testamentary trust can hold a wide variety of assets, including: These assets are managed by the trustee according to the terms outlined in the will, ensuring they are distributed...
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