When siblings get greedy

Discussion in 'Legal Issues' started by bdizzle, 9th Feb, 2020.

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  1. spoon

    spoon Well-Known Member

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    You might also want to check if M's name is on the title of C's investment property. One possibility is C convinced M to use the original property as an equity to borrow against C's IP, in turn C helps to service M's mortgage, or even the mortgages are now entangled. If so, there will be a lot of fun among the A,B and C.
     
  2. Gen-Y

    Gen-Y Well-Known Member

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    Sounds like a foursome of strange bed fellas. :p
     
  3. larrylarry

    larrylarry Well-Known Member

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    Seek independent legal advice.
     
  4. larrylarry

    larrylarry Well-Known Member

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    Do a title search on the property.
     
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  5. Beano

    Beano Well-Known Member

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    Including the investment property purchased
     
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  6. Shazz@

    Shazz@ Well-Known Member

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    How much is the property worth?

    I don’t understand why there is an issue at the moment? Your mum hasn’t passed away yet. Are you worried about your inheritance? Maybe you can draw up something about how things would be split in the event your Mum passes away.

    I don’t necessarily agree with this, but perhaps C is going to stay with your mum long term and look after her as she gets older, so in a way, feels like they they are owed more than A and B.
     
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  7. luckyone

    luckyone Well-Known Member

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    I'm pretty sure the first post mentioned that C has moved out of the home away from M
     
  8. Beano

    Beano Well-Known Member

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    That situation is very interesting .
    I had a good think of what I would do as the mum.
    If the kids left me in my old age but one stayed behind I think I would most definitely give the one who stayed behind 100% of the house .
    Having company from your children in your old age cannot be undervalued.
     
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  9. Shazz@

    Shazz@ Well-Known Member

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    My apologies- that was an oversight.

    But C has taken on the entire mortgage now and M has retired. It may be a possibility that C is taking on the responsibility as carer for M. I don’t know the full details, but I still question why this is an issue when M has not passed away yet.
    Op has mentioned that siblings are being greedy- which sibling is my other question.
     
  10. Terry_w

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

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    A lot of people change their wills late in life because they had some sort of run in with a family member or because one is caring for them later in life more than another. Often these decisions can be irrational. Is it fair that one event can write a person out of a will? That is for the courts to decide
     
  11. Beano

    Beano Well-Known Member

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    To avoid my will bring challenged in court I think I will distribute all my assets the day before I die.
    I may have to make sure I do not die on Sunday or Monday as I do not believe solicitors work on public holidays :)
     
  12. Terry_w

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

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    There could still be a challenge. Under NSW law assets disposed of for under market value consideration within 3 years of death can be clawed back
     
  13. Beano

    Beano Well-Known Member

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    in that case I also will not die in NSW either

    To avoid my will bring challenged in court I think I will distribute all my assets the day before I die.
    I may have to make sure I do not die on Sunday or Monday as I do not believe solicitors work on public holidays :)
     
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  14. Terry_w

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

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    It doesn't matter where you die, but which laws could apply. If you have any assets in NSW then NSW law could apply - this can include shares in companies domiciled in NSW etc.
     
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  15. hobo

    hobo Well-Known Member

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    Could you also kindly share your future-seeing manual percussion instrument salesperson’s contact details?

    I too would love to purchase a bell that rings the day before I die. :D
     
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