Personal possessions – interpreting their meaning and entitlements

personal possessions, deceased estate, will making, Personal possessions, personal items, belongings or effects and similar expressions are often used by willmakers to leave instructions on what they want done with such things.

The executor’s role is to administer the estate of a deceased person in accordance with the terms of their will.  The case law shows that occasionally a term causes uncertainty for an executor as to what the willmaker intended in their choice of words or expressions.  What did they mean? What did they want to have happen, and how may their executor or personal representative resolve this dilemma with confidence that they are doing the right thing?

Executors seeking advice

If faced with a difficult dilemma as to what to do, executors can apply to the Supreme Court for an opinion, advice or direction on any question respecting the management or administration of trust property, under s 63 of the Trustee Act 1925 (NSW).

More

Residue of a deceased estate, the residuary estate – what is it?

What does the ‘residue’ or ‘to give the residue of my estate’ mean?

 

residue, deceased estate, wills, making a will, administration, probate The residue of a deceased person’s estate is what is left over after the payment of all expenses in connection with the estate.

Expenses include payment of the funeral, costs incurred in the administration of the estate, payment of the deceased’s debts, the discharge of any liabilities of the deceased, and the distribution of any specific gifts made under their will.

The residue or residuary estate is property of the deceased not disposed of by the terms of their will.

More