Szabo & Associates News & Updates

No one would welcome the news that the last Will and testament of a loved one is being challenged. The unfortunate reality for many is that the contesting of Wills is becoming increasingly common, as more people allege that they were due to inherit more or that there is something inherently wrong with how a Will is worded. These disputes can have a damaging impact on family and friends, and this has been shown very recently in the dispute in the UK over the estate of Michael Winner (reported here).

The rise in popularity of DIY Wills is due in large part to the belief that they are ideally suited to avoiding significant legal fees for what appears or be a relatively simple job: the creation of a Will. While there is no doubt that the idea of a DIY or ‘homemade’ Will is attractive – a readily available commercial document that adequately narrates your intentions for your estate when you pass away – the reality is often quite different.

Ordinarily, when a person purchases a piece of real estate, they are liable to pay stamp duty on that purchase.

It was recently reported (available here) that a Melbourne millionaire has demanded a $10 million payment from her husband as part of a $120 million divorce battle, as a down payment for her to purchase a ‘suitable’ new home for both her and her children.

The reality is that when it comes to thinking about Wills and planning for a time when we are no longer around, a significant number of people can (understandably) fall into one of two camps: (i) some can think that thinking about planning for death is morbid and unnecessary, and should only be considered later in life; or (ii) drafting a Will is a simple process that doesn’t demand any great deal of attention or commitment. It is true that many people find the idea of thinking about what is to happen after they die to be unpalatable and would rather delay considering it until it became necessary. Further, a significant number of the population do believe that there isn’t any great challenge in creating a Will.