Resolving Disputes Over Personal Effects
• Tony Skinner asks about resolving disputes over personal effects like family photos.
• Kate explains that courts generally don't decide who gets physical or digital photos; mediation is preferable.
• Mediation allows parties to agree on such matters, avoiding court and associated costs.
Importance of Mediation and Avoiding Litigation
• Tony emphasizes the importance of avoiding litigation and seeking agreements.
• Kate reiterates that mediation is compulsory before going to court.
• Disputes over personal effects can be resolved through mediation, which courts won't decide.
• Agreements in mediation can help grieving families focus on other matters.
Including Personal Effects in the Will
• Tony asks how personal effects are covered in a will and how to limit disputes.
• Kate highlights the emotional impact of disputes over personal effects.
• Consulting a specialist estate planning lawyer is crucial to document wishes properly.
• Listing every item in a will is not always the best approach; trusting someone to distribute items fairly can raise issues.
Defining Personal Effects in the Will
• Kate discusses the definition of personal effects in New South Wales law.
• The definition varies based on whether a will is left or not.
• Personal effects can include intangible property unless used for business or specific items like gold bullion.
• The definition should fit the individual's circumstances and wishes.
Handling Unlisted Personal Effects
• Tony asks about handling items not listed in the will, like a boat.
• Kate explains that it depends on how the will is drafted.
• A well-drafted will should cover various items to avoid frequent updates.
• Specific updates may be needed if the will doesn't address certain items, like a boat.
Considerations for Blended Families
• Kate emphasizes considering blended family scenarios in estate planning.
• Distributing personal effects to children might leave the widow with nothing.
• Scenarios should be considered where assets might change between writing and executing the will.
• An experienced estate planning lawyer can ask the right questions and document wishes properly.
Information
- Show
- FrequencyUpdated Weekly
- Published18 September 2023 at 10:45 pm UTC
- Length9 min
- RatingClean