Gifts and other transactions that you make during your lifetime can be overturned after your death?
If your will is challenged by way of a family provision claim, the court has broad powers to “claw-back” transactions that occurred before your death.
The powers of the court extend to transactions that took effect within 3 years before the date of death and transactions that took effect at your death and after your death.
Examples include:
- Gifts of money and other property during your lifetime
- The transfer of real estate during your lifetime
- Jointly held property passing to the survivor upon your death
- The payment of superannuation after your death
- Distributions of your estate
It is important to be aware of these issues as part of your estate planning and during the administration of an estate.
The relevant provisions are contained in Part 3.3 of the Succession Act 2006.
If you would like Manny to address a particular legal issue, send your request to manny.wood@ticliblaxland.com.au
This article is intended to be for information and educational purposes only and cannot be relied upon as legal advice. The information may not apply to your circumstances or to your particular situation. If you need specific advice or you have any questions, we welcome you to contact us directly.
