When the notorious "Queen of Mean" Leona Helmsley died and left $12 million to her dog Trouble - trouble indeed ensued. Her surviving family, left distraught and penniless, were not pleased.
But regardless of Helmsley's reasons, it does pose an interesting question. Our Will should reflect our will. So, why can't we just leave what we want to whom we want? Unfortunately, it is a bit more complicated.
Who can challenge my Will?
It doesn't matter who you are - your Will can be challenged. But only by certain people. Potential challengers can only come from 5 types of relationships:
- Your parents
- Your spouse
- Your children (adopted children but not children born from sperm or egg donation)
- Your grandchildren
- Anyone that you are 'maintaining' (but not in all States).
Who is your spouse? It's not as simple as it sounds. Of course, the person you are married to is your spouse. But the 'spousal level' also includes your de-facto. In some States, it also includes your gay partner. The government now allows for such bigamy. You owe spousal obligations to your wife, de-facto and gay partner - all at the same time.
How do I stop people from challenging my Will?
Sadly, you can't stop anyone from challenging your Will. You're dead, so I guess you can't really do anything anyway. If the challenger falls within any of the categories above, then they have a right to challenge. Nothing you can do can take away this right. For example, you can't say, "I give $20,000 to Bertie White, but if she challenges my Will then the gift is void." That's the Court's job to decide, not yours.
What is the silver lining? Just because someone can challenge your Will, doesn't mean that they are successful.
How do I stop people from vulturing my money?
- Instruct a specialist lawyer to prepare your Will.
The benefit? Your Will is explained by a lawyer. It's not like you bought some $20 penny-dreadful Will kit from the Post Office and signed it blindly. Your lawyer keeps contemporaneous file notes about what you say. Your lawyer explains the effect of your Will before you sign it. This is about the strongest indicator that you can give the Court.
Where required, Brett Davies Lawyers, drafts a 'considered person' clause into your Will. It shows the Court that you haven't merely 'forgotten' about the person you decided to disinherit. It's a non-offensive clause that confirms that you have considered your obligation to the person and have decided that they should not receive anything further from you. Some people want to put in the gory details such as infidelity. While perhaps an enjoyable read to the public, it's not a good idea to put in any reason why you've disinherited them. Why? Well, once your executors lodge the Will to get a Grant of Probate, it becomes a public document. Anyone can see it -including Ms Busybody next door. There is no reason to air your dirty laundry.
I want to leave it all to my dogs
You can't just leave money to an animal. You need your Will to set up a trust for the benefit of your pet. You would appoint someone that you trust as the appointor and trustee of the trust. That person can only use the money for the benefit, happiness and upkeep of your pet.
No comments:
Post a Comment