Australia's #1 for Law

Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!

QLD Estate Planning - Mother Keeping Funds Safe in Overseas Bank Account

Discussion in 'Wills and Estate Planning Law Forum' started by Jack Windsor, 8 April 2015.

  1. Jack Windsor

    Jack Windsor Member

    8 April 2015
    Likes Received:
    My mother is holding some of my funds in her overseas bank account. To prevent these funds being claimed by my siblings in the event of her death, what should we do?
    eg. Is it enough to make a statement to the effect that ... $500K belongs to [me].
    Is it better to bequeath it in her will to me as an amendment / codicil.
  2. Tracy B

    Tracy B Well-Known Member

    24 December 2014
    Likes Received:
    Hi Jack,

    It is always better to make a will.

    A codicil is a document that amends an existing will. It must be executed in the same manner as the will itself (i.e. attested by specific number of witnesses etc.) Does you mother already have an existing will and merely wish to amend it?

    If so, the codicil should mention:
    • The existing will and that it remains in force except to the extent it is amended by the codicil
    • Quote the part that is to be removed or amended (if any)
    • Add the new bequeath
    • State that in all other areas, the will dated [ ] is true and valid.
    Jack Windsor likes this.

Share This Page