$1,000 per week for life: not enough
Hypotheticals by Manny Wood Published in the Coffs Coast Advocate on 6 July 2019. This week’s column updates a case involving Susan and Gordon. They were in a blended family and when Susan dies leaving Gordon with an indexed annuity of $52,000 per year, Gordon made a claim against her estate seeking further provision. Gordon owns his home, has $300,000 in superannuation and a further $150,000 in savings. Susan’s will left the remainder of her $5 million estate to her two children, from a previous relationship. Susan’s children were able to demonstrate that they had relative financial needs. […]