Weird Probate Issues Part 3: Famous Last Words

Probate and Deceased Estates, Weird Probate Issues, Wills and Estate Planning
weird probate Issues

They say you cannot take it with you — but that has never stopped some people from trying to have the last word. Our earlier Weird Probate Issues articles proved so popular that we have developed an entire series. This instalment features fourteen individuals who used their Wills to make extraordinary, eccentric, and sometimes frankly bizarre final demands. While entertaining, each example carries a serious reminder: your Will is a legal document. Getting it right matters.

outstanding debts deceased estates sa

Advertising for Creditors or Claimants of Deceased Estates

Probate and Deceased Estates
outstanding debts deceased estates sa

One of the duties of an executor in administering an estate is to satisfy any outstanding debts owed by the deceased upon their death.

An executor who is aware of an outstanding claim by a creditor, or a possible claim against the estate, but nevertheless distributes the estate, may be personally liable to the creditor.

Although there is no requirement in South Australia to advertise for creditors, it is generally advisable to do so in order to enjoy the protection afforded to estate executors and trustees by s. 29 of the Trustee Act 1929 (SA).

selling a parents home after their death

Selling a parent’s home after their death

Probate and Deceased Estates
selling a parents home after their death

Coping with the death of a parent is challenging enough, and selling their home can be an added stress for children.

Grieving family members may be unable to make decisions. Unless someone takes charge, the home might fall into disrepair.

Siblings may also have emotional attachments to it or unrealistic expectations about the value of the home.

It’s all made even worse, if the parent dies without a Will.

Predictions revisited negative gearing

Predictions Revisited: Negative Gearing

Probate and Deceased Estates, Contested Estates
Predictions revisited negative gearing

A while ago I published a report entitled Top 10 Estate Planning Predictions for Australia.

This report stated that, over the next 10 years, Australia will face significant challenges as it attempts to balance its books while enormous numbers of Baby-Boomers exit the scene.

It concluded that the State & Federal Governments (of all political persuasions) will need to make some difficult choices to address these challenges, and attempt to cling onto our desirable quality of life.

Superannuation Death Benefits – Be Warned

Probate and Deceased Estates, Contested Estates
Superannuation Death Benefits Be Warned

As a matter of law an entitlement under a superannuation fund does not automatically form part of the assets of a deceased estate.

All superannuation funds in Australia are trusts, which are governed by their respective deeds of trust, subject to the Superannuation Industry (Supervision) Act 1993 (Cth), and administered by a trustee who holds a discretion in terms of the persons whom the trustee decides should receive the superannuation trust fund proceeds.

Top 10 reasons why challenges to Wills and estates are becoming more common

Top 10 reasons why challenges to Wills and estates are becoming more common

Probate and Deceased Estates, Contested Estates
Top 10 reasons why challenges to Wills and estates are becoming more common

Generational change in attitudes mean that more people than ever before are now prepared to challenge a Will if they don’t get what they regard as a fair share

A recent survey in the UK reveals that one in four people would mount a legal challenge against a loved one’s Will or estate if they were unhappy with it.

UK Court statistics confirm such disputes are on the rise, reflecting the increased readiness of family members to oppose a relative’s last wishes, with a record number of inheritance disputes now reaching Court.

Rogue Executors

Rogue Executors

Probate and Deceased Estates, Contested Estates
Rogue Executors

When executors goes bad, and what to do about it…

Several times each month, my phone will ring, and someone will tell me about a family member who is doing the wrong thing in the administration of a deceased estate.

It’s often a sibling. For some reason, some brothers and sisters can have a rivalry that borders on all-out warfare. There have been times when I’ve had sibling-executors in my office who couldn’t agree on the colour of an orange! (The expression ‘cats and dogs’ comes to mind).

the benefits of experience

The Benefits of Experience

Probate and Deceased Estates
the benefits of experience

Last night I had to do one of those business chores that just has to be done, but I hate it.

I’ll try not to bore you with too much detail, but basically it involves computer security stuff that is equal parts weird, scary, frustrating and boring.

Much of it makes no intuitive sense, and there are traps for the unwary everywhere. It feels like tap-dancing into a minefield. Wearing a blindfold.

weird probate Issues

Weird Probate Issues Part 9

Probate and Deceased Estates, Wills and Estate Planning
weird probate Issues

Here’s one more in our series of articles about Wonky Wills, Pathetic Probates and Disagreeable Deaths.

If you’re twisted like us, you might get a laugh out of some of the strange stuff people do at the end of their days …
#1 Tomas Martinez
67-year-old Tomas Martinez was living on the street in Santa Cruz de le Sierra, Bolivia, when he was approached by police officers who had good news for him. His ex-wife (whom he abandoned years earlier) had died and was leaving him her fortune of $6 million.

Martinez thought the police were there to arrest him for his drug and alcohol related issues, and he fled without hearing what they had to say.