The primary purpose of a Will is to ensure that your estate will pass to your intended beneficiaries. The directions in a Will are legally binding. What if you wanted to allow some flexibility for your executor or family to decide? Unlike your Will, a letter of wishes isn’t legally binding however, it does give […]
In the Estate of Owen Brown deceased (2016) VSC 258, under his Will the deceased left his second wife Gail a life interest in the home they lived in plus an annual income of approximately $25,000 from a $500,000 trust fund controlled by two children of his first marriage. The residue of the $1.7 million […]
In Ligeti v Ligeti (2016) VSC 448, the deceased (aged 90) left to his 52 year old daughter Julia under his Will 4,000 shares in NAB worth $140,000, and left the balance of his estate (worth $3.3 million) to his second wife Maria (aged 86). Julia applied to the court for greater provision from the […]
In Wright v Wright (2016) QDC 74, the deceased had been estranged from his two children for most of their lives. He was 73 when he died, his daughter was 43 and his son was 46. The deceased was largely absent during his children’s upbringing, and he spent 20 years in the navy. When the […]
In the case of Sung v Malaxos (2015) NSWSC 186, the major asset in the deceased’s estate was his home at Lilyfield near Sydney Harbour, worth approximately $1.35 million. In his Will, the deceased, aged 83 when he died, directed that the property be sold and that the sale proceeds be apportioned one-third to his […]
In Paradisis v Kekatos (2016) NSWSC 220, the deceased in his Will left to his wife of 28 years a “life interest” in the matrimonial home, and the rest of his estate was left to his three children from previous marriages. His widow made a “family provision claim”, applying to the court for greater provision […]
The NSW Supreme Court in Revell v Revell (2016) NSWSC 947 observed that “courts do not rewrite the will of a deceased person simply because it appears to be unfair, unequal or unwise.” In that case, a testator aged 90 at his death left $1.5 million to each of his son and daughter, and left […]
The decision in Bouttell v Rapisarda (2014) NSWSC highlights the practical way in which the courts approach family provision claims. The deceased left behind an estate worth approximately $ 600 000 including a house and a strata title unit. The deceased’s Will provided to his widow a right of residence in the house for as […]
Buyers can be motivated to buy property from a deceased estate as it is usually perceived to be good value. It is important however that before entering into such a Contract that it refers to the correct seller; which may not always be the name on the title at the time of entering into the contract. If this […]
The Supreme Court of New South Wales in the recent decision of Burke v Burke (2014) NSWSC 1015 demonstrated that not every financially strained child who challenges their parent’s Will because no provision was made for them in it will be successful. The estate had a net value of approximately $1.25 million. The deceased mother aged 93 […]
Testamentary trusts are fixed or non-fixed trusts that are: established by a Will funded by: o the assets of a deceased estate; or o by payments to the estate in consequence of death, e.g. superannuation death benefits or insurance proceeds paid to a deceased estate rather than directly to dependants or nominated beneficiaries; and to […]
What is a Testamentary Trust?Testamentary Trusts are fixed or non-fixed trusts that are:established by a Will funded by:the assets of a deceased estate; or by payments to the estate in consequence of death, e.g. superannuation death benefits or insurance proceeds paid to a deceased estate rather than directly to dependents or nominated beneficiaries; and to be administered by […]
We have been helping clients produce their Wills for over 90 years. For those with straight-forward family structures and simple financial arrangements we can assist you to prepare your Will, often in conjunction with an Enduring Power of Attorney, for a quoted price. A properly drafted Will helps ensure your wishes are carried out and that […]
Whether you wish to make a new will or ensure that a deceased estate is administered properly, Ellison Moschella & Co focus on carrying out your instructions professionally and finding solutions with a minimum fuss.Proper estate planning includes considering the following:Do you have properly structured Wills?Do you need to consider asset protection issues for your […]
If you have an estate or trust which requires an independent administrator or trustee we have extensive experience acting in those positions.If there is a dispute between the beneficiaries and/or the trustees or where a trustee has a conflict of interest having an independent administrator will give you peace of mind knowing the estate or trust […]
What is Probate?A Grant of Probate is a document issued by the Court which, amongst other things, declares the Will an Executor intends to administer is the deceased’s final Will. How will Probate help me?A Grant of Probate will make your dealings for the estate with third parties easier as it allows them to be assured […]
Not receiving your fair share of an estate?There are good reasons why people will need to challenge an estate which include:the deceased failing to divide their estate fairly between their dependents and family;a Will being made at a time when the deceased didn’t have the necessary capacity;where the deceased was unduly influenced to sign a will that didn’t […]
A Special Disability Trust (SDT) allows immediate family members and carers to provide for the future care and accommodation needs of a ‘severely disabled person’. The benefits of a SDT include: families being able to set up a fund to provide for a severely disabled person after the death of the primary carer or parent; and […]