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PK Simpson Blog

Will dispute filed over inadequate retirement provisions

A man filed a Will dispute after he did not believe he was adequately provided for in retirement through his deceased mother’s Will.

will dispute
There are many reasons why a person decides to dispute a will, but in one recent case heard by the New South Wales Court of Appeal, it was in relation to being inadequately provided for.

The legal challenge

A man launched an Estate dispute in relation to his mother’s Will over concerns he had not inherited sufficient assets to fund his retirement. His mother and stepfather drew up mirror Wills back in 2006, in which they stated their intention to leave their estates to each other.

After his mother’s death, the appellant argued that although he didn’t have any immediate financial needs, he would require funds to support his retirement later in life.

In light of this, the man requested assets from his mother’s notional estate. These are only found under New South Wales law and refer to any assets that were owned by the deceased prior to their death, but were not included in their possession when they passed away.

This can include superannuation funds and any other assets that would not have been directly available to beneficiaries at the time the Estate was distributed.

The outcome of the Will dispute

The judge in this particular case determined there was insufficient evidence to determine the appellant had not been adequately provided for in his mother’s Will.

The man had revealed his intention to retire in 22 years’ time with a total of $700,000 in his superannuation fund. This would mean receiving $190,000 at the present time, on the proviso that his account would yield $322,000 in another two decades.

As the judge pointed out, this is also calculated on the basis that the man’s income would not increase over the next 22 years, which is unlikely to be the case.

Data from the Australian Bureau of Statistics shows wage growth totalled 0.6 per cent during the March and June quarters of this year. On an annual basis, average wages have seen a rise of 2.3 per cent, a trend that is likely to continue year on year.

Launching your own Estate dispute

Wills and Estates law can be a complicated area, which is why you will need an experienced lawyer on your side if you wish to file a dispute. Whether, as in this case, you feel your needs have not been reflected in a Will, or if you have another reason for launching a contest, get in touch with PK Simpson today.