Szabo & Associates News & Updates

Many charities and not-for-profit (NFP) organisations benefit from gifts left upon death with many charitable bequests providing NFPs with vital funds to allow them to continue. However, with the emergence of DIY wills many charities are losing out from poorly constructed, loose Wills.

It was recently highlighted in the Sydney Morning Herald, that it is incredibly difficult to design a Will that is completely free of the risk of being challenged. The article highlights the increasing number of people in Australia that are challenging a loved one's Will on the basis of a lack of adequate family provision, claiming that they have not been adequately provided for. Unfortunately many people, owing to the complexity of the law in this area, do not understand the rules concerning mounting a challenge to a Will on the basis of a 'lack of provision'.

It is hoped that when people decide to draft a Will, they will have taken the necessary legal advice and be very clear on what they need to do to create a valid document. However, there are some occasions when an important step in the process is missed, which can cause problems when attempting to honour the wishes of an individual who has passed away.

Stuart Wagstaff, who passed away peacefully at Castlecrag Private Hospital in Sydney aged 90, earlier this month, addressed those attending his memorial from beyond the grave.

The teenage daughter of one of Australia’s richest men, Olivia Jacqueline Mead, has challenged the Will of the late mining heir, her father Michael Wright  - and put together a wish list amounting to about $20 million worth of allowances and luxury items.