Hypotheticals by Manny Wood Published in the Coffs Coast Advocate on 2 February 2019.
Tragically, Scott suffers a fatal heart attack while on holiday in Southeast Asia, at the age of 53.
Many years ago, Scott made a will with the Public Trustee of Queensland. The will was “free” on the basis that the will appointed the Public Trustee as executor.
After the will was made, Scott’s parents fell into financial difficulties and to protect them, a unit was purchased in his name using funds advanced by his parents. His parents lived in the unit until his death.
The old will leaves Scott’s superannuation to his parents and the rest of his estate to his siblings.
Scott’s parents are concerned that the Public Trustee will force them to leave the unit and if this is the case, need some certainty in relation to what they stand to receive from their son’s estate.
The Public Trustee leaves Scott’s parents the task of identifying the assets of his estate and making-contact with the superannuation funds.
A year later, Scott’s father passes away and his mother, Jane, faces dealing with Scott’s estate and an uncertain future, alone.
Jane now wishes to sell the unit and relocate to a retirement village.
After another year of correspondence and despite agreement within the family, the Public Trustee refuses to acknowledge that Scott held the unit on trust for his parents and demands that Jane obtains an order from the Supreme Court.
The Public Trustee is very slow to communicate and during the course of the matter, a number of their solicitors are involved.
Jane ultimately gives-up her entitlement to the unit so that the matter can be concluded.
The Public Trustee takes another year to sell the unit.
Scott’s estate is not finalised until almost 5 years after his death and the Public Trustee receives a substantial portion of the estate in payment of their fees.
If you would like Manny to address a particular legal issue, send your request to manny.wood@ticliblaxland.com.au or call him on (02) 6648 7487.
