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QLD Tenants in Common with Daughter - Dividing Estate Equally in Will?

Discussion in 'Wills and Estate Planning Law Forum' started by Nanabar, 17 November 2015.

  1. Nanabar

    Nanabar Member

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    I own a house with my eldest daughter and son-in-law as Tenants in Common. I am updating my Will and wish to leave my estate divided equally between this daughter and my younger daughter. The house would, therefore, have to be sold to release my capital. Do I have to specify anything regarding the house in my will or is it enough to just to say "my estate to be divided equally ..."?

    Thanks very much for your help.
     
  2. Tim W

    Tim W Lawyer

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    Does your elder daughter live in the house?
     
  3. Nanabar

    Nanabar Member

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    Yes, I live in the house with my daughter, son-in-law, and grandson.
     
  4. Tim W

    Tim W Lawyer

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    As a general principle, you can't sell (or bequeath) the whole house,
    nor "require" the whole house to be sold,
    because, as a tenant in common, you only own half of it.
    • Tenant In Common and Joint Tenant are vastly different legal institutions.
      It really, really matters which you are.
    • You need to know for sure. Even if you think you know, check.
    It's fundamental to your planning that, you as testator, understand the nature of your holding,
    so that you can give your lawyers the appropriate instructions.

    If I was asked, I would discourage the use of a DIY will.*


    --------------------------------------------------------------------------------
    * Disclosure: I do not recommend DIY wills, ever
     
  5. Nanabar

    Nanabar Member

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    Thanks for your help Tim, will follow up on your suggestion
     

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