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Article by Manny Wood published in the Coffs Coast News Of The Area on 23 September 2022. Elizabeth makes a will, leaving her “principal place of residence” to a particular charity. She leaves the rest of her estate to her nieces and nephews and appoints her friend, David as her executor. Ten years later, the NSW Trustee and Guardian are appointed as financial manager of Elizabeth’s affairs. Elizabeth moves into a care facility and the NSW Trustee and Guardian sell her principal place of residence for $700,000. The proceeds of sale are placed into a trust account for Elizabeth. Elizabeth had no other assets. The NSW Trustee [...]

Article by Manny Wood published in the Coffs Coast News Of The Area on 16 September 2022. John worked hard throughout his life, earning a modest wage and comfortably providing for himself. John was an only child and never married nor had children. The only family that John had contact with were two of his first cousins, Sarah and Rhianna, who John saw regularly. Although John was relatively cash poor in retirement, he was considered asset rich and had a net worth of about $2 million, having purchased a large block with a small fibro house located close to the beach, in the early 1970’s. John intended [...]

Article by Manny Wood published in the Coffs Coast News Of The Area on 9 September 2022. Dave and Marg purchased their dream block of land, overlooking the river. Within a year their house was built. However, not quite content, they decided to put in an infinity pool. The custom pool drawings were completed and a pool building company was engaged. The contract between the parties detailed an all-inclusive cost and the timeframe to complete the works. Three weeks into the 10 week build time, work stalled. Marg was worried that the pool would not be ready for the grandchildren at Christmas, so she complained furiously to [...]

Article by Manny Wood published in the Coffs Coast News Of The Area on 2 September 2022. David, a successful businessman, has accumulated a multi-million dollar estate. Unfortunately, at the age of 65, David is diagnosed as suffering from dementia. Shortly thereafter, David appoints his daughter Robin as his financial manager, under an enduring power of attorney. During the course of a year, David also makes a number of substantial gifts, totalling $1 million, to his son Adam. Another family member, successfully challenges David’s mental capacity to make the power of attorney and the Tribunal rules the documents invalid. When David passes away, the gifts to Adam [...]

Article by Manny Wood published in the Coffs Coast News Of The Area on 26 August 2022. When Penny and her father fall on tough times, they stay with Penny’s grandmother, Jane for 12 months. Penny is only 10 years old at the time. After Penny and her father move-out, they maintain a close relationship with Jane. Unfortunately, Penny’s father unexpectedly passes-away, when Penny is in her 30s. Jane says to Penny; “Don’t worry, I will look after you in my will”. A few years pass and when Penny is looking to buy her first home, Jane says “I will give you $100,000 now or you can [...]

Article by Manny Wood published in the Coffs Coast News Of The Area on 19 August 2022. Ruth never married and has no children. She has assets valued at $1 million. Ruth goes online and searches for a will-making service. She completes an online questionnaire, nominating her sister as executor and sole beneficiary of her estate. She pays for the will online, using a credit card. She writes an unsent text message, stating that she has “drawn-up and completed a will”, followed by a link to the website. Unfortunately, Ruth tragically passes-away shortly thereafter, without receiving a final draft of the finished will and without executing it [...]

Article by Manny Wood published in the Coffs Coast News Of The Area on 12 August 2022. During his lifetime, Edward invested in gold bullion and had accumulated 600 ounces, worth over $1 million. Edward makes a will leaving the gold to his three children, equally. Three years later, his daughter, Penny takes possession of the gold. When Edward passes away, two years later, Penny claims that Edward gifted the gold to her and that it does not form part of his estate, with the effect that her siblings do not receive a share of the gold. Edward’s other two children do not agree that their father [...]

Article by Manny Wood published in the Coffs Coast News Of The Area on 29 July 2022. Lucciano Lombardi was born in Italy and migrated to Australia in the late 1950s, when he was 12 years old. Finding that most Australians struggle to say his name properly, Lucciano begins to go by Luke Lombard, which is the name printed on his first Driver Licence. In 1978 Luke buys a house at 123 Fake Street. Luke uses his Italian Birth Certificate to establish his identity. When the purchase settles, the Certificate of Title records his name as ‘Lucciano Lombardi’. Unfortunately, in 2020, Luke is diagnosed with cancer. Luke [...]

Article by Manny Wood published in the Coffs Coast News Of The Area on 22 July 2022. Shortly after their marriage, Amy and Robert build their family home on a property owned by Robert’s father. Amy and Robert have two children together but unfortunately, after a 15-year marriage, their relationship breaks-down. The parties are unable to reach agreement in relation to property settlement and Amy commences action in the Family Court. Robert’s father passes-away before any orders are made and Robert’s inheritance becomes another issue of dispute. Robert’s inheritance is calculated at $1.5 million. Robert agrees that the current value of the family home, being $500,000 was [...]