Succession law explained
On average people are starting families later which is a growing concern for insurance companies because typically people consider taking out life insurance when they reach certain "milestones" in their life such as marriage and having children. Interestingly as society has changed a fixation to milestones has not. What is interesting about this behaviour is …
Continue reading "Milestones? It’s your life! Plan it your own way."
I read an interesting article about the challenges that Millennials face managing their estate planning needs. In the United States the parents of Millennials will transfer approximately $30 trillion dollars in the next 30 years. Which should spark discussions amongst families about business succession and estate planning. Estate and Succession planning with parents & grand …
Abraham Lincoln, the sixteenth president of the United States was shot while watching a play on April 14 1865 and died the following day. As a lawyer, President, and at the age of 54 when average life expectancy was a little over 40 you would think that he would have made a Will – yes …
Continue reading "One reason Abraham Lincoln shouldn’t be admired"
Where the language of the Will may apply equally to two or more objects or people (equivocation) Courts are permitted to look at direct evidence of the intention of the Will maker. It should be noted that in most Australian jurisdictions, if the will is ambiguous, legislation allows the Court to take into account the …
Courts have stated the object of construing a will is to ascertain the Will maker's intention as expressed in the will itself. The fundamental rule in construing the language of a will is to give effect to the intention of the Will maker, such intention being gathered from the language of the Will, read in …
It has been reported that the fastest growing type of family unit in Australia is a single person living alone. If you don’t have children or obvious heirs, documenting your wishes and making them accessible will help ensure those wishes are fulfilled should something happen to you. In some circumstances people without children need to plan more …
One of the principles that Courts apply when construing Wills is if the effect of a gift in a Will is quite clear any subsequent ambiguous words cannot have the effect of reducing the scope of the clear gift. Leo Aubrey was a newsagent. He owned the family home at 81 Harris Street, Harris Park, …
In December 1911 following the death of their mother George, John, and Catherine Hendry started an agricultural partnership. Catherine was declared insane in 1927 and John died Intestate in July of 1929. Isabella, who was John’s next-of-kin , took over his interest in the partnership. George died in September 1955 leaving a will dated 19th …
Continue reading "Establishing the Meaning of the Will maker"
Michael Hutchence, the lead singer of the band INXS, was found dead in a Hotel room in Sydney on November 22, 1997. His death was ruled a suicide. Hutchence had made a Will the year before he died, in which Amnesty International and Greenpeace were each to receive $US250, 000, his daughter Heavenly Hiraani Tiger …
Continue reading "Where are Michaeal Hutchence’s Estate assets"
The reality is that Wills are far more than tools for the allocation of assets, they are estate planning documents. For example a Will maker can nominate guardians for their children, name executors as their legal representative in order that their wishes are met after death, including their funeral arrangements, and disposal of their body. …