Testamentary freedom is being free to dispose of your property how and to whom you wish. One Supreme Court judge said that this freedom of testamentary disposition is a “prominent feature of the Australian legal system. Its significance is both practical and symbolic and should not be underestimated.”1
Of course like all freedoms it should be used reasonably.
Why sever a joint tenancy? Severing a joint tenancy is relevant to joint co-owners passing on their property interests to their chosen descendants. Owning property with others in co-ownership can be either as joint tenants or tenants in common. The consequences of who inherits a co-owner’s share on death are different. It is important to …
Estranged daughter An estranged daughter contested her mother’s will. She and her sister were the only children of the deceased.1 Contesting the will of a parent is highly emotional, stressful and damaging to family relations. As observed by the Supreme Court of New South Wales: The case provides yet another example of the high level …
Estranged child left out of a will – claiming family provision Read More »
If the words “descendants” and “children” are being used to describe beneficiaries in a will, is it intended by that any step-grandchildren are included?
Murrumburrah is a town adjacent to the town of Harden, southern New South Wales. The former Courthouse located in Murrumburrah is now used for community activities. The first courthouse building was constructed on the site in 1880.
Finding a mistake or error in the will of the deceased can cause extra difficulties in sorting it out. Many couples wish to leave their estates to each other when they die, and then to their children. They usually nominate the same people to act as their executors and trustees, typically each other, and one or more of their children may be appointed as substitutes.
The legal formalities to make a valid will require the will-maker to sign their will in the presence of at least two people, acting as formal witnesses to the event.
Signing a will in front of witnesses fulfils a protective function. Can anyone witness or attest the signing of a will? And what must they do? Read more >>
The Armidale Courthouse and Sherriffs Office at 143-145 Beardy Street, Armidale, in the Northern Tablelands was an operating Local Court of New South Wales until January 2014. The first courthouse was constructed in 1844 with a more substantial building erected in 1858, in the Classical Revival style.
The residue of a deceased person’s estate is basically what is left over after the payment all costs in connection with the estate. That is, payment of funeral expenses, costs incurred in the administration of the estate, payment of the deceased’s debts, discharge of any liabilities and the distribution of any specific gifts made under the will.
A codicil is a short additional document, typically one or two pages, used to make a minor alteration to an existing will. Both the will and the codicil documents together form the “will” of the person. To be legally valid the codicil document must be signed and executed in front of witnesses in the same way as for a will.
A codicil is a convenient way to change an executor or trustee named in a will. For example in a situation where someone appointed as an executor has died a codicil can be used to replace them with someone else who is willing to act when the time comes. Read more.
Wills are important private and confidential documents. An original will should be stored in a safe and secure place after being signed and witnessed. Once all the formalities have been completed and it has been copied, the original will then needs to be kept in a safe and secure place.
Glen Innes Courthouse 1873 is the design work of James Barnet, built in local stone. The Courthouse is still operational as a local court in New South Wales, and previously a Mining Warden’s Court. The locality of Glen Innes is of Scottish heritage.
Inheritance and intergenerational transfer of property has concerned families and civilisations for centuries. Inheritance laws of the ancient city of Gortyn (Gortys), Crete were inscribed on stone in a public place in the fifth century. The Law Code of Gortyn is a written set of rules prescribing who inherits, among other private matters, so as to keep property in the male side of family.
To see the contents of a deceased person’s will can be difficult. But in some states if you know who has the will, a copy, or other testamentary document, the law requires them to allow certain categories of people who are entitled under the law, to have access. If you are within one of these categories you are entitled to inspect or see the will; and obtain a copy of it. Copying is at your expense, but the costs must be reasonable.
A family tree outlining close family/next of kin relationships is useful in preparing to make a will, and as a reference in situations of intestacy.
Intestate means dying without a will. But sometimes even if a person has left a will there may be a partial intestacy. This is when the will does not effectively dispose of all of their property. If that happens the identified property falls into the residue of the estate and distributed according to what the person’s will states about disposal of the residue, and if silent, then according to the statutory intestacy rules. Read more on dying intestate. >>
If a deceased person has not left a will or if no document appearing to be a will can be found, they are said to have died intestate.
Who can make a will to dispose of their property?
To make a will a person must be an adult and have the required mental capacity.
A will made by a minor, being under 18, is generally invalid under State and Territory wills and succession legislation.
Exceptions relate to contemplation of marriage, or altering or cancelling a prior will. If the contemplated marriage does not take place, the will is invalid. The court may authorise a minor to make, alter or cancel a will.
In ID 2014/6 the ATO addressed the question of whether the adult child was dependent on the parent at the time the parent died for the purposes of being a death benefit dependant. Losing a parent in these circumstances is particularly devastating. If the young person receives superannuation death benefits from their parent’s superannuation fund, would they be assessed on this money for income tax?
Disposing property by will, in the will-making process requires considerations to be given to what you own in your individual name, as opposed to what you might control, see further below. As only property owned in a personal or individual name can form a deceased estate, it is only this which can be transferred by will, (or the rules of intestacy).
Among the first considerations in making a will is considering what we own. Only property owned personally can form a deceased estate and be disposed of by will, but it is easy to overlook that property thought of as ‘ours’, is legally in another name. It pays to check who owns what, that which is not in your own name, is not yours to give by will.
With cheap air fares and so much air travel these days, what happens to our frequent flyer points when we die? Can they be transferred? Generally no, but there are some variations, check your program’s terms and conditions to be sure.