Your will sets out how your assets are to be distributed after you die. How much each beneficiary receives normally cannot be changed. One exception is if the court is persuaded that a wise and just will maker would have done otherwise. Read more
You cannot sign a will if you do not understand what you are doing. In legal terms if you “lack capacity”. Read more
When you pass away, the person given the responsibility to dispose of your body is the executor under your will. If there is no will, the person with the right to apply for administration of your estate, such as the spouse or next of kin, will have this responsibility. This is in addition to balancing any practical, cultural, and religious factors. Read more
In a recent case, a husband and a wife had been married for nearly thirty years with four children. The husband owned a panel beating business and a range of commercial interests including the operation of tow trucks and considerable property holdings, all of which made him wealthy. The man died. His will left the entire $22 million estate to one of his sons. Nothing was left to his wife or other children. The beneficiary son obtained probate. Read more
In a recent case, a man died in Australia. He left behind a wife and two children, and an estate valued at over $50,000,000.00. He had assets in Australia, Hong Kong and China. He had not made a will to specify how his assets were to be divided after his death. Read more
In a recent case a husband and wife were trying to have children by IVF. Five embryos were produced. One of the embryos was successfully implanted and the wife gave birth to a child. The remaining four embryos were frozen. Read more
As our lives increasingly move to “online digital platforms”, it is becoming more important to help your executor access your “digital assets” after you die. Digital assets include social media accounts, shopping accounts, bank or investment account details, entertainment collections, gambling accounts, and the like. Read more
In 2014 a man took out life insurance. He named his de facto partner as the beneficiary of the policy. In his application he had claimed to be a healthy individual who did not take drugs, and who lead a healthy lifestyle. The policy was for $2,625,000.00. Read more
In 2018 a man died without a will. He had three children. He had separated from his wife eight years prior to his death. Despite separating, the two were not divorced. Not long after the man’s death, his family was shocked to find that their father had a secret lover who they had never met or heard of. She made a claim on their father’s estate. Read more
If you have a discretionary trust that holds (or may one day hold) real estate, then you need to be aware of a recent change in the law. Read more