Article by Manny Wood published in the Coffs Coast News Of The Area on 12 April 2024.
Paul’s will bequeaths his substantial wealth primarily to his children, Harry and Grace. As the executor, Harry is tasked with ensuring Paul’s wishes are respected.
However, the family faces a dilemma: Grace has been estranged from the family for many years, having moved overseas in her youth. The family understands she moved back to Australia approximately 20 years ago but her whereabouts and other details of her life remain unknown.
Harry’s duty as executor, is to locate Grace and distribute her inheritance to her. If Grace is untraceable, the estate’s handling becomes complex. According to the will, if Grace predeceased Paul without having had children, her share would revert to Harry and other beneficiaries. Yet, the possibility of Grace having descendants complicates the execution, as they would stand to inherit her share.
Harry conducts an extensive search for Grace, including the engagement of a private investigator, a social media campaign and associated media advertisements as well as conducting other relevant searches.
After searches spanning several years, Harry can petition the Supreme Court for a declaration based on his exhaustive searches proving Grace’s presumed death, allowing Grace’s inheritance to be reallocated to the surviving beneficiaries.
Alternatively, after a comprehensive search, Harry might proceed with the estate distribution, securing the beneficiaries’ agreement via a deed of family arrangement. This deed would commit them to reserve Grace’s share for a potential future claim. However, this approach bears risks, notably the beneficiaries’ potential expenditure of these funds, complicating a potential restitution to Grace. To mitigate this, Harry could consider inheritance insurance, ensuring Grace’s portion is safeguarded.
Harry’s navigation through NSW’s inheritance legalities illustrates the extensive measures required to fulfill a loved one’s last wishes, anchored in fairness, thoroughness, and familial ties.
Thank you to Anthony Fogarty for his assistance with this column. Email Manny Wood, principal solicitor at TB Law at manny@tblaw.net.au or call him on (02) 66 487 487. This column is only accurate at today’s date and cannot be relied upon as legal advice.
