Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 18 November 2017. Chris and Karen are married but estranged. They are the sole members of a self-managed superannuation fund. Karen makes a will, appointing her two children as executors. Her will leaves her interest in the superannuation fund to her children and specifically states that she does not wish for Chris to receive a share of her superannuation entitlements. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 11 November 2017. Andrew unexpectedly passes away. He was never married and had no children. He did not leave a will. Andrew and Mary had a “close” relationship for many years. Records produced by Centrelink state that Mary had received Social Security benefits on the basis that she was not in a relationship with Andrew. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 4 November 2017. Lindy, aged 88 is becoming forgetful and needs some help in managing her financial affairs. Lindy is widowed and has no children. Lindy’s nephew, Ben, talks to her about executing an Enduring Power of Attorney to formalise his ability to manage her finances. This would allow Ben to access Lindy’s bank accounts and buy and sell property on her behalf. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 28 October 2017. Fred and Mary have operated a farming business for many years. The farm is based on two large properties that are owned by Fred. Mary owns a residential property in her sole name and has other substantial assets. Fred and Mary have a son and four daughters. Fred makes a will, with the intention of leaving one of the properties, known as “Cow Creek”, to his son and his other property to his daughters. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 21 October 2017. David and Robert have been in a same-sex relationship for many years. They own their home jointly and operate joint bank accounts. They have no children. They have not registered their relationship with Births, Deaths & Marriages. David has suffered a number of health problems recently and Robert is concerned, that if David’s health deteriorates to the point that he lacks the capacity to make his own medical decisions, he may not be recognised as David’s next-of-kin. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 14 October 2017. Chris and Mary have been married for eight years and have one child together. Chris and Mary separate and their child spends equal time with each of them. Four years after separation, Chris receives an inheritance of $500,000 from his late father’s estate. By this time the parties had been divorced. Mary commences action in the Family Court, seeking property orders that Chris’ inheritance be included in the matrimonial pool of assets and that she be entitled to a share of the inheritance. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 7 October 2017. Bob passes away, leaving a de facto spouse, Michelle and two adult children, Tina and Chris. Bob’s will appoints his children as executors. The will grants Michelle the right to reside in Bob’s house until she “may marry or enter into a de facto relationship” provided she pays all rates, taxes and insurance and keeps the property in reasonable repair. Michelle also receives the sum of $15,000 and Tina and Chris receive the balance of his $1 million estate, consisting of a number of parcels of real estate and $200,000 in cash. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 23 September 2017. Brent, a 6-year-old child, was visiting a home rented by Cynthia from ACT Housing Commission. Cynthia owns two dogs and unfortunately one of the dogs attacks Brent causing him serious injury and the dog was subsequently destroyed. Brent, by his father, sues ACT Housing rather than Cynthia, who has no assets or insurance. […]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 16 September 2017. Andrew is keen to purchase Kay’s property and after obtaining pest and building reports, he wishes to proceed. Andrew’s solicitor obtains and reviews the contract. Andrew informs his solicitor that he does not have the usual 10% deposit available and enquires as to whether he can pay a 5% deposit. The vendor wishes to secure the sale as soon as possible and reluctantly agrees to accept a 5% deposit. The contract includes a “special condition” to the effect that if Andrew defaults under the contract, the vendor can claim the full 10% deposit. [...]
Hypotheticals by Manny Wood. Published in the Coffs Coast Advocate on 9 September 2017. Alan and Sharon are looking to purchase a new home for $1.5m. They obtain a loan from their bank for $400,000 and Alan’s mother Vicki, advances the rest of the money. Alan and Sharon sign a loan agreement with Vicki, to the effect that the money advanced by her is a loan, repayable upon demand. […]