Will Disputes: New laws for family provision claims in Victoria
Previously, Victoria was one of the most flexible States in Australia for people making a claim against a Will. Now will disputes are restricted to a list of eligible people.
Previously, Victoria was one of the most flexible States in Australia for people making a claim against a Will. Now will disputes are restricted to a list of eligible people.
In simple terms, estate assets are assets that you own in your personal name at the date of your death. These are the assets that are dealt with in your Will. Non estate assets are dealt with otherwise.
For many people, their superannuation is their biggest asset. However, your superannuation is not an estate asset to be dealt with under your Will. Instead, it is an asset held on your behalf by the trustee of your superannuation fund.
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I am often asked “How can I talk to my parents about their estate plan … without seeming like a gold-digger/control freak/I’m eager for them to be gone?â€
To get paid, the estate needs to know that you are owed money. If they don’t know, and you don’t give them notice, you can miss out altogether.
If you know you’re going to die, you will want to do what’s best for your family, but you’re probably also going to want to have a bit of fun while you’re still feeling ok.
If you have recently separated, you may think that getting divorced will sort out the financial and children’s issues between you and your ex-partner. Unfortunately, this is incorrect.
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