Publication

Avoiding Fights over Your Estate: 10 Handy Tips

by Indran Sinnadurai
29 July 2015
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1. Write a will – Your decisions will be taken into account, not the statutory formula on intestacy

2. Consider your family as beneficiaries – Spouses, children and other family members have the right to seek provision from your estate – think carefully before excluding them

3. Try not to control your assets beyond the grave – Unless a beneficiary is of unsound mind, gifts controlled by others can be attacked

4. Avoid excessive detail – You can’t give what you don’t own

5. Consider your choice of executor – Appoint as your executor someone you know to be fair and honest

6. Allow your executor to charge a fee – Administering your will can be time-consuming and complex

7. Your executor and beneficiaries should be visually younger than you – They should be alive after your death

8. Update your will after your marriage – Marriage affects and may set aside your will

9. Update your will after your divorce – Divorce affects and may set aside your will

10. Make a binding superannuation nomination – Superannuation generally does not form part of your estate