Think about your beneficiaries

By Pamela Wardle, Legal Practitioner Director
 
Are you contemplating leaving one of your children out of your Will?  Have you finalised your divorce? Is someone financially or otherwise dependent on you? 
Under the Succession Act 1981, where adequate provision is not made from your estate for the proper maintenance and support of a child, spouse or dependent, the court may make an order for adequate provision to be made.  This means that very careful consideration must be given to who you include as beneficiaries under your Will and who you exclude.
The mere fact of estrangement or separation from a child or spouse, or drug or alcohol dependency may be an insufficient reason for them to be excluded from your Will.  Likewise, leaving a nominal benefit in your Will (say $500) may be insufficient to protect your estate against a claim.  There are many and varied factors which may be considered in determining if someone may be successful in a claim for further provision from your estate, including:

1. What is the size of your estate (ie excluding assets and liabilities which are held jointly with another person, or held by a trust or company)?
2. Has the person been abusive, threatening or violent to you?
3. Have you made any large gifts to that person during your lifetime?
4. What are the financial and other needs of the person you intend to exclude?
5. What are the financial and other needs of the beneficiaries you intend to include?

There are many other considerations a court may consider and determining an amount to be paid to an excluded person is complex and uncertain.
Contact us to discuss your options if you are considering excluding someone from your will.