At law, the concept of "valuable consideration" is fundamental. It is especially relevant in contract law and is one of the essential elements required to form a legally binding contract. Without valuable consideration, a contract can be unenforceable. Definition of Consideration Cons...

When it comes to property ownership in New South Wales, the two most common forms of co-ownership are "tenants in common" and "joint tenants." While both involve two or more parties owning a property together, they are vastly different and have distinct legal implications and ...

The term "notional estate" refers to assets that do not form part of your estate at the time of your death but can be included in your estate for the purposes of family provision claims. In NSW, the concept of notional estate is governed by the Succession Act 2006 (NSW). Notional ...

An eligible person can make a claim for a share of a deceased estate through a family provision claim. A family provision claim is made under Section 59 of the Succession Act 2006 (NSW) and must be made within 12 months of the deceased’s death, unless otherwise allowed for by the court...

A beneficiary is a person or entity who is nominated by the testator to inherit a share of their estate or a specific item in their estate (such as a property, cash legacy or pieces of jewellery) under their Will (as a specific gift). Beneficiaries can either be individuals such as family members...