Following a nation-wide postal survey and many months of debate, the passage of the same-sex marriage legislation came into effect on 9 December 2017. With many same-sex couples organising their weddings, it is essential to understand how marriage can affect your estate planning.
As a general rule marriage:
- revokes a Will (unless the Will is expressed to be made in contemplation of the marriage)
- may revoke an enduring power of attorney (EPA) in some states, For example in Queensland if someone other than a spouse is appointed as an attorney prior to the marriage, this will be revoked once they are married unless a contrary intention is expressed in the EPA
Other documents that may require review include:
- the construction of trust documents, which may be effected by the widened definition of the term ‘spouse’
- binding death benefit nominations, which outline who will receive your superannuation when you pass away
Individuals effected by these changes are advised to review their documents and seek legal advice to ensure their current arrangements are appropriate and up to date.
This article originally appeared in the Summer 2017 edition of InSuccession. Other articles in this newsletter included:
- Your responsibilities as a financial attorney or administrator – a snapshot of do’s and don’ts
- New laws clarify Executor commissions during estate administration
- New benchmark set for all estates to be treated equally
|Disclaimer: This publication contains comments of a general nature only and is provided as an information service. It is not intended to be relied upon as, nor is it a substitute for specific professional advice. No responsibility can be accepted by Rigby Cooke Lawyers or the authors for loss occasioned to any person doing anything as a result of any material in this publication.
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