Description

In this week's episode, Nick shared advice on protecting assets from will contests, including utilising superannuation, trusts, joint tenancy, and statutory declarations. Kim inquired about the timing of these techniques and potential court intervention, to which Nick advised legal consultation due to potential pitfalls and existing clawback laws in Eastern states. Matthew asked about binding multi-page wills, and Nick suggested spiral binding or stapling, ensuring page numbering and no tampering. The "sovereign citizen" movement was discussed, with Nick confirming its invalidity and negative consequences for adherents. Al sought clarity on executor duties, specifically regarding his sister acting as executor and giving herself assets, with Nick clarifying that executors have duties to beneficiaries and cannot act unilaterally. Brian raised concerns about his brother's property held in joint tenancy with an ex-partner, and Nick stressed the importance of severing the tenancy to avoid automatic inheritance. Finally, Matthew asked about enforcing a divorce financial settlement where his ex-wife hadn't refinanced the house, and Nick recommended applying to the court for contravention orders to force the sale of the property.

Topics Discussed:

Protect assets from will challenges

Joint tenancy avoiding court examination

Statutory declaration explaining will omissions

Timing of asset transfers matters

Sovereign citizen movement invalid

Executor duties and responsibilities

Sever joint tenancy on property

Enforcing divorce financial settlement orders