A recent case highlights the importance of having a lawyer draft your Will, particularly in circumstances where interests in real estate are involved. Whilst you may consider that ownership of a particular asset rests with you, it may not be so cut and dried in reality, with many assets held in trusts, companies or other structures, potentially complicating their distribution upon your passing. Whitla v Launchbury [2014] QSC 70, considered whether the refund of monies due to the deceased for his contribution as an ingoing resident for the sub-lease of a unit from a retirement village, constituted proceeds of real estate owned by the deceased for the purpose of distributing his assets according to his Will. The judgement handed down, found that a clause contained in the deceased’s will stating “any real estate that I own at the date of my death” did not include the repayment of a loan due following the termination of the sublease of the unit.
Did you see a lawyer to draft your will? If you want to check that your will is effective and accurately reflects your wishes, then please don’t hesitate to contact Havilah Legal today.
