Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 28 January 2017. Greg and Jane are in their 60s and have no children. Jane is British and Greg is an Australian citizen. They reside in Australia and have done for many years. They make Wills leaving their estate to each other and when they both pass away, their Wills provide for an equal split between each side of their respective families. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 21 January 2017. Cecil, a 56-year-old farmer, tells his wife Bessie that he is taking his tractor to do some work about 2 km from the homestead and that he will be back by sunset. Unfortunately, Cecil is involved in an accident whereby the tractor rolls over and his leg is pinned beneath the left rear wheel. Bessie goes looking for Cecil and finds him under the tractor. She runs to the nearest farmhouse and they drive to town to find help. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 14 January 2017. Karen is unfortunately involved in a car accident and passes away in her mid-30s. Karen did not have a will. She was single and did not have any children. She was living with her mother at the time of her death. Although Karen’s estate was relatively small, her superannuation death benefit, which included life insurance, totalled $800,000. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 24 December 2016. Anne had two children, Nicole and Karen. Anne dies at the age of 85, leaving just one asset, being the family home worth $800,000. Karen lived with her mother for her entire life. She has never moved out of home and never lived with anyone else. Karen contributed to the household expenses and paid nominal board. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 17 December 2016. Many years ago, Amanda made a will, appointing her eldest son, Larry as her executor and leaving the whole of her estate to her three children, equally. A few months before her death, at the age of 98, Amanda makes a new will, appointing her youngest child, Tom as executor and granting him the right to reside in her home for the rest of his life. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 3 December 2016. Max and Charlene are looking to buy a fish and chip takeaway food business called A Salt and Battery. Due Diligence They obtain the business’ financial records from the vendor and receive accounting advice regarding the viability of the business. The business is operated out of leased premises and the lease includes an option to renew the lease for a further term. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 26 November 2016. Robert and Jennifer each have a child to a previous relationship. They are married in 2000 and consult a solicitor regarding the drafting of their wills. They are advised that one of the options available is to make “mutual wills”. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 12 November 2016. Diana is the CEO of Pushing Daisies Pty Limited, which owns and operates several store front florists. Pushing Daisies employs two full-time staff to manage and run each store. Sarah is the manager of one of Pushing Daisies’ stores. One day after work, Sarah seriously injures her leg while surfing. Due to the seriousness of the injury, Sarah is told by her doctor that she will be unable to walk for at least three months and may never regain full use of her leg again. Sarah gives Diana the bad news along [...]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 5 November 2016. Peter grew up under the impression that he was Harry’s biological child. When Harry dies, Peter discovers that his will leaves the whole of his estate to his daughter, Joan and appoints her as his executor. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 29 October 2016. This week’s column provides an example of the problems that can arise when appointing an inappropriate executor in your will and the importance of executors obtaining legal assistance to fulfil their duties. […]