If you’ve made a Binding Death Benefit Nomination to deal with superannuation fund moneys after death, and you’ve either nominated your legal personal representative in your Will or a particular person, then just like your Will, it may need to be reviewed and revised from time to time.
Contemplating leaving a child out of your Will is a common issue that arises in families, particularly where one or more of the children are seen as the “black sheep”. In very general terms, kids might challenge the Will you make in three areas.
In very general terms, a trustee holds assets of a Trust, manages those assets and deals with the capital and income in accordance with the terms of the Trust. The trustee owes a duty directly to the beneficiaries and must always act in the best interest of those beneficiaries.
Deciding to make a gift to a charity in your Will is a commendable act. But there does need to be some consideration as to what you wish to achieve by the gift. You also need to be mindful of the potential for a family provision claim against your estate.
There is no legislation at the moment in Australia which addresses the change of ownership of digital assets after death. But, given the prevalence of digital assets, it is increasingly likely that legislation will be put into place in the future.
We have recently received a number of queries where the original Will of the deceased is missing or lost. It may be that a copy of the Will has been found but not the original document. The question then is what to do and whether a Grant of Probate can still be made where only a copy of the Will is located.