Article of Interest on Wills & Estates

No will? Does the Government get my Money??

A common fear of many is their estate will vanish into the general revenue of the State. The majority of these fears are unwarranted. However, if you die with an ineffective Will , your assets may not end up where you would want them to go.

There is a need to review Wills on a regular basis. The older one becomes the more expansive the review should be. Inoperative Wills are not the desired outcome for anyone.

Michael lost his wife Ruth 3 years ago and his only child Alan 18 months ago. He is now 79 years of age and his health is failing. The only other living relative he has is a brother. Michael and his brother had a falling out several years ago over a business dealing.

Michael always had a Will, but failed to review it after the death of his loved ones. The Will provided for the whole of his estate to go to his wife or his son Alan if Ruth had predeceased him. The Will went on to say that in the event Alan predeceased him Alan’s share in the estate would be divided equally among Alan’s children.

Michael’s Lawyer had failed to ask the very simple question as to whether Alan had children. Alan had no children. Therefore Michael’s Will, as it currently stood, was ineffective. Michael’s estate was eventually placed in the hands of a State Trustee, who went to extraordinary lengths to locate Michael’s brother as the default beneficiary.

Ultimately, Michael’s estate was passed to Michael’s brother, not the State. However, Michael would likely have been turning in his grave at the thought that his brother, who owed him a substantial amount of money, was now benefiting from his estate.

Lawyers with experience in Estate Planning think outside the square and plan for the unexpected. The State would not feature highly in your list of beneficiaries. It is important to eliminate “the black hole”. An experienced Lawyer will do that for you and assist you explore other options.

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