Succession law explained
Will making is a lifetime process. Your Will should be reviewed regularly; particularly at key moments in your life (marriage, birth of children, divorce, retirement, purchasing major assets like a house, or business). If this isn’t done your Will is not going to reflect your intentions at the time of your death and may …
Continue reading "Why do people make Wills"
The forfeiture rule is a fundamental principle of justice that prevents a person from benefiting from their wrongful conduct, as it would be unconscionable to allow a killer to take a financial benefit from their unjust action. Courts permit no dilution of the rule therefore being convicted of murder or manslaughter regardless of the facts …
In the last few posts you might think that there is a lot of paper work required to obtain Probate or Letters of Administration. It is due to the fact that the Probate Division of the Supreme Courts of each state and territory are the modern successors to the courts of ecclesiastical jurisdiction. The Ecclesiastical …
If you were to die intestate your family or friends would have to apply to the Supreme Court for letters of Administration. The procedure is similar to that for obtaining a grant of probate. A grant of Letters of Administration allows the administrator(s) to manage and distribute the deceased's assets. In many cases organisations will …
When a person who has a valid Will dies, their executor, a person named in the Will to administer the estate, distributes their assets and settles their debts. A “Grant of Probate” is a certificate granted by the Probate Division of the Supreme Court that provides the Will of the deceased is valid and registered and that the …
Continue reading "Probate – What happens when I leave a valid Will"
Sonny Bono, died following a ski accident in which he hit a tree in 1998 at age 62 without leaving a Will. Bono had three ex wives, four children, several business interests, and an estate estimated at $1 million. Bono was successful in various careers in entertainment, as a restaurateur and a politician. He was …
A codicil is a supplementary document that amends a previously executed Will. (Execution of a Will is when it is formally witnessed) The Will maker executes the codicil with the intention of adding to, altering, revoking explaining or confirming a Will, provision or part of a Will. As a subsidiary testamentary instrument, a codicil must be executed …
We have discussed ruling from the grave and the issues that it can cause. Recently the Trustees of a charitable trust approached the Supreme Court of New South Wales seeking advice. Martin Sharp a well known, and significant, Australian artist with a substantial body of work died on 1 December 2013. Sharp made a will …
Continue reading "Charitable trusts don’t have to treat everyone charitably"
Mutual Wills arise where two (or more) people make an agreement as to the disposal of their property through Wills and each has, in accordance with the agreement, executed a Will. Mutual Wills are often made between husband and wife, in second or later marriages and where there are children from earlier relationships. They provide …
We have discussed the administration of a deceased estate where the assets were fully owned by the deceased alone and pass according to their Will. Where an asset is held by two or more people under joint tenancy it is passed via the right of survivorship, this means that on the death of one of …
Continue reading "Survivorship – no they didn’t sing eye of the tiger!"