Fairness and inheritance

Discussion in 'Wills & Estate Planning' started by Terry_w, 2nd Oct, 2015.

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Would it be fair for a parent to die and leave everything to Child A and nothing to Child B?

  1. No, all children should be treated equal

  2. Yes, the parent should have complete freedom to determine where their assets go

  3. It depends on the circumstances

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  1. D.T.

    D.T. Specialist Property Manager Business Member

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    That's fairly specialist / personalised advice so wouldn't expect to get much on a forum to be honest. The above linked case is pretty good to read if you haven't already; there's some quotes from the affidavit there too.
     
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  2. CU@THETOP

    CU@THETOP Well-Known Member

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    You can never stop someone suing you-but you want to try to make it as hard for them to get up.
    Commonly the normal costs rules (loser pays winner's legal costs) don't apply in estate squabbles- the Court's attitude is if there is some connection (ie blood or shacked up together) then that's good enough to let them off the costs hook. Problem is it is usually the nuggety battlers with no money that bring these claims so there is no way you'll ever get your costs order paid by them 95% of the time.

    The way to stop the parasites is to divest yourself of the property before death (at least here in Qld- I recall Terry saying it is much different in NSW) but I would never recommend any client to leave themselves at the mercy of the kindness of strangers- or worse - family. Superfunds should have their binding nominations in place and family trusts have the power of appointment and trusteeship mapped out accordingly. Jointly owned assets will go some of the way too.
     
  3. CU@THETOP

    CU@THETOP Well-Known Member

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  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    There is a fair bit that can be done to prevent assets falling into the wrong hands - with advance planning. I have written a legal tip already on this and will post soon.
     
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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