Did you know the most likely challenge to your Last Will & Testament is from one of your children?
One who may feel they’ve not been treated fairly.
You see, any Will can be contested by just about anyone who feels that you owed or promised them something but did not provide for it in your Will.
It could be your spouse, partner, child, grandchild and even your parents.
But the most likely will be one of your children!
Interestingly, the law does not ask you to treat your children equally but equitably.
Okay so what does that mean?
Well subject to interpretation, it tends to mean that you have treated them according to how you see their circumstances.
For instance, one child may have been born with the looks of a model, or pro-athlete or brain surgeon and are doing very well financially.
Ergo they don’t need a hand out from you.
However, fellow siblings may not be so lucky, and have always struggled to make ends meet.
A sum of money would improve their lives enormously.
Or they could have been your home-carer for years.
Looking after you in difficult circumstances.
Whilst their siblings took no such responsibility, time and effort, but instead went about their normal lives.
For instance, a highly successful child may feel they did not get much of your attention when young, or had to struggle in other areas, and feel they deserve their share of the cake.
It’s never an easy one!
And as you know, you cannot please all the people all the time.
So think carefully as to how you wish to distribute your estate to your children.
You may be lucky, and feel it’s just a straightforward division equally between them.
If not, and you wish to allocate different portions, even exclude a child, then do make it very clear why you’ve made your decision.
This can save a lot of in-fighting and legal expense after you’re gone.
Hopefully this won’t be a problem. But it’s certainly worth considering.
If you have concerns about this, why not enjoy a consultation with one of our trusted,
independent legal experts at Legal Exchange Lawyers?
Just send us an email at [email protected] and we’d be delighted to arrange a consultation.
And remember, you can change your Will at any time with BeQuest.
Just login to www.bequestwills.com.au and make your changes.
But do remember to print it and have it properly witnessed.
You can then upload a copy to BeQuest Wills for safekeeping.
If you’ve got any queries just drop us an email at [email protected]
Or even better, call us free on 1300 498 869 – we’d love to hear from you.
PS We do not give legal advice, although we’re happy to put you in touch with Legal Exchange Lawyers,
a network of experienced estate planning solicitors, covering Australia.