Gold Coast Panache Magazine Autumn 2022

Page 96

LEGAL

WHAT IS A WILL? Your Will is probably one of the most important legal documents you will ever sign. Put simply, your Will states what you want to happen to your assets when you pass on. With proper estate planning, OMB Solicitors will ensure that your right assets go to the right people at the right time. A Will must appoint somebody, called your executor, to carry out your wishes. They effectively step into your shoes when you pass and distribute your assets to the beneficiaries. Your Will must also be in writing and signed in the presence of two independent adult witnesses. Those witnesses must not be beneficiaries named in the Will. Although that sounds fairly straightforward, if your Will is not prepared correctly it risks being invalid and your wishes not upheld. Whether it be your first Will, or it's time to review your existing Will, we recommend you update your Will at least every three years or whenever a major event occurs in your life, such as: • • • •

You have married or divorced since making your last Will You have entered into a de-facto relationship A beneficiary named in your Will has died If one or all of your executors have died or

94 GOLD COAST • PANACHE Magazine

are otherwise unable to act, say because of dementia • You have had children or grandchildren since making your last Will • You wish to appoint a guardian of your children • Your assets have increased or decreased significantly, or • You wish to leave a specific asset to a specific person If a person dies either without a Will or the Will is deemed invalid, they are known to die intestate. The ramifications of dying intestate can be very time-consuming and stressful for your loved ones and is almost always legally more expensive if that person had a valid Will. What is more, their assets will be distributed in accordance with estate laws and not their wishes or their estate administered by the Public Trustee. For example, a substantial part of one's estate could be transferred to an estranged spouse


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Last word –Simon Bennett

2min
pages 130-132

Motoring – Gold Coast Land Rover The Fab Five

3min
pages 116-119

Damien Anthony Rossi Paspaley VIP Event

1min
page 129

Princess Yachts All Aboard Princess V50

3min
pages 114-115

Legal – What is a will?

3min
pages 96-97

Born and Bred – Ben Hannant

3min
pages 100-101

Passionate People

6min
pages 98-99

Health - WLSA

5min
pages 88-91

Hair Heroes Shimmer and Shine

9min
pages 78-85

Recipes – The Comfort Bake

4min
pages 70-71

RECIPES

5min
pages 68-69

JW Marriott Gold Coast Resort & Spa – Discover paradise in the heart of Surfers Paradise

14min
pages 54-63

SHAKE IT YOU MAKE IT

4min
pages 44-45

Beauty Buzz New beauty products to add to your daily routine

4min
pages 40-42

JEWELLERY-NICOLE DALEY

2min
page 43

BEAUTY BUZZ

3min
pages 38-39

AUTUMN ACTIVE

2min
pages 36-37

Autumn Fashion

5min
pages 31-35

HATS ARE BACK

3min
pages 28-29

AUTUMN-FASHION

2min
page 30

EVENTS CALENDER

2min
page 15

FASHION-LISA BROWN

5min
pages 26-27

Skool Daze – Prominent Gold Coasters talk about school days

8min
pages 21-23

Snap Happy – Gold Coasters snapped with celebrities

2min
pages 24-25

COVER STOPY -COURTNEY HANCOCK

11min
pages 18-20

COVER GIRL-COURTNEY HANCOCK

6min
pages 16-17
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