NSW Does Financial Abuse Get Factored into Execution of Will?

Discussion in 'Wills and Estate Planning Law Forum' started by Ian Curtis, 17 July 2019.

  1. Ian Curtis

    Ian Curtis Well-Known Member

    Joined:
    7 December 2016
    Messages:
    27
    Likes Received:
    1
    If my sibling sabotaged our inheritance, does that get taken into account when executing a will, which was made to be 50% each? I say "sabotaged" because the sibling is complicit with the public trustee's financial abuse.

    The background...

    Government Trustee took over financial management for Mum who has dementia because my sibling and I had joint PoA but sibling wanted them to take over (against my wishes).

    Now the Trustee is seeking to sell the home which will deplete the estate $750k in ten years, rather than letting me lease the estate making a small profit. The trustee acts against their client's best interest often because they want their commission and the state government wants stamp duty ASAP.

    Financial Client Abuse | NSW Trustee and Guardian Client Abuse

    Sibling refuses to appeal their desire to sell because of insane jealousy that I am still living in the house. This is despite my living there for a long time on a DSP making the house exempt from assets tests and therefore is the only reason we still have the house. I even invited my sibling to move in who then insisted on me giving her the whole lot in perpetuity (because sibling has kids and me don't presumably... or just being a sociopath). Naturally, I didn't acquiesce.

    If I win the appeal in the Supreme Court despite my sibling, I would like my legal fees ($60k+) returned to me via the inheritance since I protected the inheritance. More importantly, if I tell my sibling this in advance I may get cooperation.
     
  2. winston wolf

    winston wolf Well-Known Member

    Joined:
    21 April 2014
    Messages:
    420
    Likes Received:
    115
    If I understand this correctly, the home is to be sold and the funds used for the benefit of your mother (if you agree or not this is the stated intent)\. When your mother dies the estate will be divided 50/50. The only way the past choices will effect the distribution will be if the will is challenged(Family Provision Claim).

    From what you have said this would cost a lot and be unlikely to succeed.
    In short, the will is the will and the executor cant just modify it to make it more "fair" in your opinion.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  3. Ian Curtis

    Ian Curtis Well-Known Member

    Joined:
    7 December 2016
    Messages:
    27
    Likes Received:
    1
    Thanks for responding.

    If the appeal goes my way it will be because the court accepts the sale would not have benefited my mother and that the Trustee's claim is bogus. It is in that scenario that I was wondering if my legal fees for having defended my mother's estate could in turn be recouped from her estate.

    As opposed to making a profit by leasing, the sale (by the Trustee's own figures) would lose my Mum $77k/year for the first 2.5 years reducing to about $49k thereafter simply in fees/expenses. Interest rates are about the same as inflation rates so there is no investment opportunity. This obsession by the Trustee for selling homes to make commission for themselves and stamp duty for the state government is a well established pattern of financial abuse by them, see Financial Client Abuse | NSW Trustee and Guardian Client Abuse
     
  4. winston wolf

    winston wolf Well-Known Member

    Joined:
    21 April 2014
    Messages:
    420
    Likes Received:
    115
    Not really my "area" but I dont think you would get compensation win or lose.
    This is just a difference of opinion and the appeal will decide. It's just a cost of estate management.
    We would like these to be clear and obviously fare but it tends to be messy. You could get more legal advise but that will probably just cost more.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  5. Ian Curtis

    Ian Curtis Well-Known Member

    Joined:
    7 December 2016
    Messages:
    27
    Likes Received:
    1
    Except that I am not the one managing the estate but spending money on policing the supposed professionals who are. My argument would be that my legal costs (should I win) ought to come from the estate (or my sibling who is a beneficiary of the will) since they saved my Mum hundreds of thousands of unnecessary costs.

    You have more legal experience than me though (despite it not being your area) and I suppose I need to accept that while it may be clear in my description it is legally more messy. Thanks for your objective input even though it wasn't what I was hoping to hear.
     
  6. Perp

    Perp Well-Known Member

    Joined:
    30 June 2015
    Messages:
    39
    Likes Received:
    6
    What's your mother's living situation? Are the 'losses' you're claiming because of increased nursing home fees resulting from the sale of an exempt asset?
     
  7. Ian Curtis

    Ian Curtis Well-Known Member

    Joined:
    7 December 2016
    Messages:
    27
    Likes Received:
    1
    Yes as well as loss of pension and possible legal costs in fighting the Sate Trustee although I am now tempted to not hire a lawyer since I cannot find one with experience in this area. The activist community knows more than lawyers do when it comes to State Guardians and Trustees.
     
  8. Perp

    Perp Well-Known Member

    Joined:
    30 June 2015
    Messages:
    39
    Likes Received:
    6
    There are many lawyers who specialise in precisely this area. You want a specialist succession lawyer. Some further specialise just in guardianship, or just nursing home law, etc., but 'succession law' is the area comprising wills and estates, guardianships, challenges to wills, nursing home law, elder law, advanced health directives, etc.
     
    Ian Curtis likes this.
  9. Ian Curtis

    Ian Curtis Well-Known Member

    Joined:
    7 December 2016
    Messages:
    27
    Likes Received:
    1
    Thanks, I was not aware of the "succession" area.
     
    Perp likes this.
Loading...

Share This Page

Loading...
gt;