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There are a number of legitimate reasons to include a testamentary trust in a Will. The benefits include, but are not limited to:
(i) Providing a gift to a beneficiary with a disability, that may not be able to manage their own affairs. The Will maker may want to ensure that the beneficiary may benefit from the income of the fund during their lifetime, with the capital to go to another beneficary on their death.
(ii) Protection ...
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We have all read about high profile disputes, over the assets left in the Wills of high net wealth individuals. The families of Richie Benaud, Dick Pratt, and Lang Hancock have all had difficulties sorting out their estate issues.
Unfortunately, no lawyer can give assurances to Will makers that someone in their family will not make a claim against their estate for a share, or larger share than the Will maker deems appropriate. All the Will maker ...
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In the case of Calvert v Badenach, decided in July in Hobart, Tasmania, it was found that a Solicitor’s duty of care when advising a Testator extended to beneficiaries and potential beneficiaries. In that case, a Solicitor advised a client about making their Will, but failed to give any detailed advice about a potential Family Provision Application that could arise from the Testator’s disenfranchised daughter. The Testator left the bulk of his estate to a friend who was ...
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Justice Lindsay of the Supreme Court of NSW, in the case of Re Estate of Wai Fun CHAN, on 7th August 2015 admitted a video made by a dying Chinese woman, to Probate. The 85 year old widow had made a formal written will two days earlier with her Solicitor, leaving her estate equally between her 8 children. She later decided to leave a larger share to her two children who were resident in NSW, and therefore made ...
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