In order to allow for maximum flexibility and to increase the tax efficiency of our Family / Discretionary Trust (or within one of our Smarter Wills as a Testamentary Trust) we will generally advise that you give your Trustee/s wide discretionary powers.
Where Trustee/s have wide discretionary powers it is always desirable and therefore we strongly recommend that you record your wishes (in a non-binding Letter of Wishes) regarding how you would like these powers to be exercised.
Your wishes including your reasons (where your reasons are not obvious) could be recorded in the Trust document or the Will itself.
However, for the following reasons a separate document is recommended:
1️⃣ To clearly evidence the non-binding nature of the document;
2️⃣ To easily allow for changes to be made without the need for legal formalities (your signature is normally witnessed, though not strictly essential and the letter should be dated so that changes can be easily identified);
3️⃣ To allow for periodic review (whilst this is still possible); and
Examples highlighting where the need for Confidentiality may arise:
➲ A Will after Grant of Probate is a public document; or
➲ A Beneficiary may attempt to exercise a right to see Trust information or a copy of the Will. In such circumstances confidentiality may only be retained via the use of a separate document.
This separate document is conventionally referred to as a Letter of Wishes, though it could also be called a Statement of Wishes or a Memorandum of Wishes.
Best Practice is to create your Letter of Wishes at the same time as you settle your Trust or execute your Will respectively.
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James has been great to work with. I called him on a Monday and by Tuesday he had a formal [19-Page] Concerns Notice sent to a person defaming me and my business. He stayed in touch throughout the day, kept me updated regularly and was diligent to ensure we were exercising all of my rights under the law. Thanks, James!
James was great, going above and beyond to help me with my enquiry. He provided detailed explanations with references to the appropriate regulations and case examples.
We needed a really good lawyer and after doing our research we decided to contact Blue Ocean Law Group. James runs a very efficient service and has extensive knowledge of Defamation Law. Nothing was a problem. James would follow up with me regarding issues that had arisen. He dealt with each issue in a professional and ethical manner. James would explain every detail on the phone and the process could not have been easier!
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Blue Ocean Law Group's website has plenty of information in easy, layman's language that explains how Defamation Law works in Australia and from there, it was really easy to book an appointment online. James is a thoroughly professional Lawyer and it was a pleasure dealing with him. Keep up the good work, James! Cheers! ⭐️⭐️⭐️⭐️⭐️
(Translated by Google) Lawyer James Ford was the best. He assisted me all the way through a dispute with a tenant who tried his best to extort money from the landlord due to a conflict with another tenant. James is reliable in his profession amongst lawyers in this field ... James patiently guided me, a landlord whose English is my second language, throughout the whole process ... It was because of his command that my case was turned from a disadvantage to an advantage. His charges are also very reasonable. So if you are a landlord I would highly recommend 'James Ford' to you.
Very helpful and thorough advice. James was able to explain the options available to us in detail, and the implications involved. He was knowledgeable and very professional. Would definitely go to him again.
James was very patient and understood my legal issues. He gave me the most detailed answer he could and extended the time as he wanted to give me the answers I needed. He was very knowledgeable in his area and was able to offer me insightful advice. Would highly recommend.
Our case was unique. My client was based in Thailand and we needed a lawyer in Australia. After searching several firms in NSW we found Blue Ocean Law Group. James was very helpful. He explained the matter in detail via emails and on several occasions over the phone to us in Thailand. The resources on the firm's website were also very helpful in providing additional information for us. I would highly recommend James and will use him again if we need a lawyer in Australia.