Inadequate Wills – the great divide of assets!

Few will ever forget the tragic circumstances surrounding Home & Away actress Jessica Falkholt’s death, passing away after a car accident that also killed her mother, father and sister. A significant lesson that can be taken from the Falkholt family tragedy is the need to have your financial affairs in order, including a legally valid Will which adequately covers all scenarios, including a calamity such as a complete family wipe-out.

There have been a number of high profile cases in Australia over the years that have highlighted the need for a legally valid Will which is both current and comprehensive- from the protracted battle over Richard Pratt’s billions, to the debacle surrounding Peter Brock’s incorrect use of a DIY Will kit. However it is not only the ‘rich and famous’ that are affected. At a time when the property boom and compulsory superannuation have created significant asset pools across the nation, you need to be aware of the potential issues facing all of your clients.

At the next Coleman Greig Accountants and Financial Planners briefing, lawyers from the firm’s Wills and Estate team will look at the Falkholt case and review the consequences of not having a legally binding Will that covers all of the relevant scenarios. In this fascinating case study, the team will take you through and unravel the complexities surrounding how the laws of intestacy were invoked for each member of the Falkholt family and demonstrate how their estates will ultimately be distributed in a manner which most people might agree is probably not what this family had intended. The team will also look at topics including:•What are the consequences of an inadequate Will, or no Will at all?

• How are assets treated in the absence of a valid Will?
• What steps should business owners consider as part of their estate planning?
• What should people with vulnerable beneficiaries (eg. drug addicted children or disabled children) be aware of?
• Under what circumstances and by whom can a Will be disputed?

Don’t miss this informative and thought-provoking briefing.

Places are limited so book now to avoid disappointment – and remember this seminar will help you to satisfy your CPD requirements!