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NSW Pay Plaintiff When Beneficiary Dies - Caveat?

Discussion in 'Wills and Estate Planning Law Forum' started by onyx, 12 August 2015.

  1. onyx

    onyx Well-Known Member

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    The judge has ratified the court settlement and the plaintiff gets $300,000 plus legal costs of $73,000. But the money has to be paid to the plaintiff when the beneficiary dies as well.

    Question: where will this money be held? Can a caveat be put in place?

    The beneficiary is in care and when she passes, the bond will be released. This could then pay out the plaintiff instead of the money being tied up in a trust and more costs occurring.

    Thank you.
     
  2. winston wolf

    winston wolf Well-Known Member

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    Perhaps you could re word you question?
    It sounds like a will was challenged with the family provision Act.
    The executor has settled out of court to pay the plaintiff $300k plus costs.

    I don't understand.
    "But the money has to be paid to the plaintiff when the beneficiary dies as well."
     
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  3. lois

    lois Active Member

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    Thank you for replying I hope I can explain it better and I realise that I left out an important figure for you. The stress of dealing over the last year and a half is taking its toll. I have power of attorney for the only beneficiary who is in the home waiting for her fathers estate to be finalised..

    Yes, the will was challenged under the Family Provisions Act and the plaintiff was awarded $300,000 plus legal cost. But the orders also say that
    'The sum of 100,000 to be paid within 2 months of the death of ...................(only beneficiary) with such sum to be adjusted on the basis of the formula noted and agreed.

    The $100,000 adjusted legacy is to be determined in accordance with the following formula.

    R = A x C

    Thank you once again
     

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