Granny Flat Agreements – is it a Viable Estate Planning instrument for elderly parents?
It is common for elderly parents to move into their child’s home in order for their child to take care of them. Some may even say it is the circle of life, we are taken care of by our parents as children and then children take care of their parents when they become elders. However, there are a number of unthinkable events that could occur which will impact a parent’s ability to live...
Leaving Gifts to Children in Wills – How to Leave Gifts and how Old should a Child be to Inherit?
Parents are commonly faced with the decision on how to leave gifts to children in their wills. Parents have a difficult balancing act between ensuring their child receives some financial benefit while ensuring their child has the maturity to deal with the inheritance appropriately.
There are three common options for leaving a...