The Importance of Understanding the Term, 'Legal Personal Representative'
Andrew Freer • November 6, 2017
Andrew Freer
E:
andrew@kjblaw.com.au
One of the key steps in estate planning is making a
superannuation Death Benefit Nomination. These nominations can be used to direct
where superannuation death benefits are paid after death. Only certain nominations are allowed. For example, nominations can be in favour of
spouses, partners, children, and those in an interdependent relationship. Nominations can’t be made directly in favour
of parents, siblings or friends. A nominations
can be made to direct the superannuation death benefit into a person’s estate. It is this concept that can often cause
confusion.
Superannuation providers use varying terminology when making provision for a superannuation death benefit to be directed into a person’s estate. Each fund will generally have their own version of form to be used.
Where a member wishes to direct their superannuation to their estate, the form can variously use the terms, ‘my Estate’, ‘my Executor’ or ‘my Legal Personal Representative’. Where the term, ‘my Legal Personal Representative’ is used, this is a reference to the person who will act in the role as your legal personal representative/executor under the terms of your Will, or in the absence of a valid Will, as the administrator of the estate. It is not a reference to your lawyer.
We have seen situations where superannuation members have completed their superannuation Death Benefit Nomination Form by naming their lawyer in the mistaken understanding that they are identifying their Legal Personal Representative. This has the unintended consequence of making the lawyer the recipient of their superannuation death benefit, as opposed to the person’s estate. It is important to be clear on the significant consequences that this misunderstanding can have.
Please do not hesitate to contact our office if you need any clarification or advice in relation to the making of a superannuation Death Benefit Nomination.
Andrew Freer E: andrew@kjblaw.com.auNews
Looking for a retirement village lawyer serving Canberra, ACT? Call KJB Law today on (02) 6281 0999 for caring legal advice on retirement living.
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Discover the key benefits of hiring a conveyancing solicitor in Canberra for a smooth property transaction. Contact KJB Law today at (02) 6281 0999!
Many heartened by encouraging advice at seminar
He attributes the wins to the great team around him
Doyles recognises Andrew Freer and KJB Law once more
Picture: Vlada Karpovich/Pexels ABOUT THIS SEMINAR We make property decisions throughout our life when choosing where to live, but as times goes on the decision is more than just what real estate can I get for my money. We need to think about how we will live and who is there to help us. The process of moving into a retirement village community requires consideration and accurate information. Before committing, it is critical you understand the retirement villages contractual arrangements, impact on your estate and ways to comfortably pay for your living expenses. This Moving into a Retirement Village seminar is designed to equip you with the legal and financial practicalities of securing a home in a retirement village. WHAT WILL I LEARN? The legal side of retirement-village entry • There are fundamental differences between home ownership outside a retirement village and your rights with respect to accommodation inside a village. Simply put, the contractual arrangements for retirement villages are more complex. Adding to this complexity is that retirement villages in the ACT do not have identical contractual and financial models. This seminar will give you insight into the contractual and financial models on offer in the ACT; and • Notwithstanding those different contractual and financial models, there are some commonalities which apply to entry and life in each village. In this seminar you will also learn about cooling-off periods, settling-in periods, recurrent charges, budget approvals, how your money is protected and when the law requires you to get your money back after you leave a village. Wills and enduring powers of attorney • Why it is important to have a will and enduring power of attorney; • What should be included in a will; • How to choose your attorney and how to protect yourself; and • What happens if you do not have a will and/or enduring power of attorney. Funding your retirement lifestyle as well as preparing for the frailty years. • The common question when it comes to retirement is: how much is enough? If only the answer was simple! But the fact is that the answer varies due to a range of factors, including your lifestyle aspirations, personal health and family commitments; and • We cover strategies available to increase cash flow and income certainty to support your quality of life in retirement and the need to prepare for when you may need extra supportive care. WHO SHOULD ATTEND? People who are: • researching the option of downsizing; • wanting to learn more about living in a retirement-village community; • confused about the different retirement-village contractual arrangements; • seeking clarification about the costs; and • preparing for retirement. NEED TO KNOW MORE ABOUT THE SEMINAR? It's on Tuesday, June 22, 10am to 12.30pm, at the Hellenic Club of Canberra , 1 Matilda Street, Woden. It's presented by KJB Law and Phillips Wealth Partners . Book online: eventbrite.com.au/e/plan-for-a-successful-move-into-a-retirement-living-community-tickets-154049300605 Details, bookings: Liz (02) 6281 0999 or liz@kjblaw.com.au
OPTIONS: Our specialist solicitors, including Andrew Freer, are able to meet with you via Skype or Zoom if you can't do a face-to-face meeting. Main picture: Lukas Bieri/Pixabay As the ACT and the rest of Australia moves out of strict covid rules, it’s important that our health and safety remain a No.1 priority. Although regulations and guidelines are relaxing, it’s vital we all remain vigilant and care for one another. We all share this responsibility. The ACT is operating under a set of COVID-normal restrictions . Please do not visit KJB Law offices if you have any covid-like symptoms, such as a cold or flu, fever or high temperature. Many legal matters cannot be postponed and if you need to avoid physical contact you can make an appointment for a phone meeting, or a video meeting via Skype or Zoom, simply by calling (02) 6281 0999 or emailing us, kjblaw@kjblaw.com.au. Legal concerns range from writing or updating wills or powers of attorney to more complex matters like family law and conveyancing. You can chat with our friendly receptionist Kylie Brown, on (02) 6281 0999 or email her at kylie@kjblaw.com.au, and she will happily point you in the right direction. Kylie can also outline our fees which vary, depending on what needs to be done. It is important every client has a clear understanding of their tailored legal plan. An initial consultation may be 30 minutes or two hours — everything is shaped to your needs. Appointments are generally taken from 8.30am, the final meeting usually ending at 5pm. We try to keep to those times but this is not a hard and fast rule because we recognise there can be other circumstances to allow for. If you know which legal specialist you need, or have already begun working with one of our solicitors, you can find their personal contact details and the details of their staff here or here . In line with covid guidelines, all visitors must register their name and phone number at reception which is needed in the event of contact tracing. If you book an appointment, we’ll take your details then so there’s no need to register when you visit. If you come in off the street we’ll ask you to register then. Appointments streamline the process and make it easier for everyone. It’s not mandatory to wear a face-mask when you visit us but you may if you wish. All of our meeting rooms and spaces are wiped down and sanitised for every meeting. You can rest assured that when you come in and sit down, your chair has just been wiped clean for you. We continue to closely monitor and adhere to the regulations and advice provided by the Federal Government’s Department of Health and in accordance with ACT Government guidelines . Thank you for your support as we work together for the health and safety of our clients, staff and the community.
KJB Law is thrilled to be a finalist again in this year’s Local Business Awards for the Canberra region . The company is competing in the Professional Services category — which it won last year. “WE'RE so thrilled to be nominated once again and to be a finalist in the competition,” said principal Jo Twible. “A big sincere thank-you on behalf of Andrew, Des and I and everyone at KJB to all our clients and friends for the nomination!” The awards are conducted over an 11-week period. The public has nominated their favourite Canberra regional businesses which have been divided into 30 categories. 'We’re so thrilled to be nominated again and to be a finalist in the competition. A big sincere thank-you to all our clients and friends for the nomination!' JO TWIBLE principal and solicitor Voting in the Canberra region opened on April 22 and closed on September 17. Finalists were selected based on the number of online and printed nominations they got in their category, the more nominations the better chance of being selected as a finalist. There was no arbitrary cut-off point, as the number of nominations varied for each category. The finalists are judged in two stages — on information received from each business (the qualifying stage) and anonymous judges (the judging stage). Because of covid, visits to each business are not always feasible, in which case judges will evaluate the business's website and online presence (social media, advertising, etc) and may conduct impromptu phone interviews. The winners will be announced at the Local Business Awards gala presentation evening on December 16, which will be attended by local business people, sponsors and dignitaries. Tickets are only available to finalists and sponsors. All Canberra region finalists: here Professional Services category finalists: here KJB Law’s awards-entry page: here The awards are run by Precedent Productions : (02) 8363 3333 or precedent@precedent.net Pictures: Precedent Productions
HUMBLED | Principal Andrew Freer has just been announced as one of the ACT's top five estates-litigation lawyers. Picture: Canberra City News . Graphics: Doyles PRINCIPAL and solicitor Andrew Freer has just been listed as one of the “pre-eminent” lawyers in estates litigation in the ACT in this year’s Doyles Guide listing. And KJB Law is the highest-ranking Doyles Guide firm in the Woden area, listed as “second tier” for estates litigation in the ACT . “I’m humbled to get this recognition by peers, colleagues and clients,” Andrew said. “And I’m so proud to work for a company that enables people to shine, with co-workers who support each other. “I acknowledge and put on record my deepest appreciation of the efforts and contribution of all members of the KJB team. “I’ve been at KJB now for 25 years and it’s quietly satisfying to know the experience and knowledge garnered over that time is valuable and acknowledged.” This year’s listing of leading ACT wills and estates-litigation law firms highlights solicitors and companies practising in wills and estates litigation, disputes and contested matters in the ACT who’ve been identified by their peers for their expertise and abilities in these areas. ' I’m humbled to get this recognition by peers, colleagues and clients. And I’m so proud to work for a company that enables people to shine, with co-workers who support each other . ' ANDREW FREER Principal and Solicitor Doyles is an independent organisation that rates and recommends law firms based on interviews with clients, peers and industry bodies. The firm produces one of the most recognised independent guides to top law firms in Australia. Doyles doesn’t allow firms to buy entries. Andrew is listed for estates litigation in the ACT. Here' s the full list of this category's pre-eminent tier (in alphabetical order): Pre-eminent ranking: Keith Bradley , of Bradley Allen Love; Phil Davey , of DDCS Lawyers; Andrew Freer , of KJB Law; Tim Morton , of Farrar Gesini Dunn; and Rebecca Tetlow , of DDCS Lawyers. KJB Law is listed for estates litigation on the ACT. Here's the complete listing of all four tiers in this category (in alphabetical order): First tier: Bradley Allen Love; and DDCS Lawyers. Second tier: Farrar Gesini Dunn; KJB Law; and Meyer Vandenberg. Third tier: Bedfords Legal; and McInnes Wilson. Recommended: Baker Deane & Nutt; Elringtons; Howes Kaye Halpin; Symons Phillips; and Tetlow Legal. The content and listing of firms, lawyers and barristers is compiled after initial online peer-review-based surveys and phone and face-to-face interviews with clients, peers and industry bodies. Its research is focused on clients and legal practitioners. Most of its personal-services areas (ie, family, crime, estates and succession planning) are compiled via peer-based surveys and reviews. At the end of the research stage of the ranking process, individuals and firms are ranked according to volume and quality of positive feedback. The distinction between tiers of firms and bands of individuals is made by way of editorial discretion, in light of: Any clear numerical delineation between firms or groups of firms; Recommendations from significant clients; Recommendations from significant peers; The firm’s or individual’s ranking in previous Doyles’ listings; and Doyles’ impression of the individual during interviews. All research is independent, and errors or faults in the guide and listings aren’t due to commercial pressures or relationships. The firm listing contains four categories, ie, three “tiers” and “recommended”. The classification of a firm into a particular tier basically depends on numbers. Especially glowing reports from key clients and individuals can also be considered. The rating of a firm in a particular tier is not a definitive classification as to the skills and abilities of each individual legal practitioner in that firm. Doyles’ listings of lawyers are in four categories: Market leader is awarded to an individual who clearly stands ahead of their peers; Pre-eminent and leading lawyers are those who consistently draw client and peer praise; and Recommended lawyers are those who display particular skills or attributes in the area. All Doyles’ listings in each ranking category are in alphabetical order. A position at the top of the list category doesn’t indicate a higher ranking or rating than a ranking at the bottom. Firms don’t have to participate in Doyles’ research or make submissions. Doyles tries to speak to clients and third parties and also senior legal practitioners within firms. The listing of leading firms and individuals not only creates an environment for a more accurate recognition of Australia’s leading lawyers, Doyles says, but also allows for informed choices for those wanting a local lawyer. Doyles website here . Andrew's Doyles profile here .