If you make a will leaving an inheritance to one of your children, and that child dies before you, there is a legislative requirement that the inheritance that the child would have received, is taken by their children. If a deceased child has more than one child, they all share their parent’s inheritance equally.
This can only be avoided if there is a “contrary intention” set-out in your will.
The current legislation came into effect in 2008. Prior to this, a deceased child’s share would be paid to their estate. This often led to the child’s share being paid to their spouse, under their will, which was sometimes an unintended outcome.
We encourage our clients to spell-out in their wills, what happens if a beneficiary dies before them to avoid unintended consequences and possible disputes regarding the distribution of your estate.
If your executor dies before you, they are “passed over”. If there are no alternative executors nominated in the will, the will is still valid and the provisions of your will can be carried-out by one or more of the beneficiaries as “administrators”.
If your executor dies during the course of administering your estate and they are your sole executor, it is their executor that will complete the administration of your estate.
Estate planning can be difficult territory to navigate, contact Manny for expert guidance.
If you would like Manny to address a particular legal issue, send your request to manny.wood@ticliblaxland.com.au
This article is intended to be for information and educational purposes only and cannot be relied upon as legal advice. The information may not apply to your circumstances or to your particular situation. If you need specific advice or you have any questions, we welcome you to contact us directly.
