Last Friday, Bowskill J of the Queensland Supreme Court held that a binding death benefit nomination (BDBN) made by attorneys was valid, in circumstances where the BDBN was confirming a nomination previously made by the principal. The judgment is very well reasoned and a relatively easy read. CAUTION - this case should not be treated … Continue reading Court confirms attorney can make BDBN
Very proud to make Doyle’s List for the third year running, being named one of Queensland’s “Preeminent” Wills & Estate Litigation junior barristers in the 2017 rankings. The list can be viewed here.
August has been a busy month. Here are four articles published on cases I have been in. Elderly multimillionaire’s $70m estate at heart of complex will battle Court orders texta marks on mum’s will be ignored Critical lessons for SMSF succession planning Pilot’s partner wins court approval to organise his funeral
A 27 year old widow brought a claim, out of time, in the estate of her 70 yo deceased husband. The estate was worth approximately $1m. The applicant was left $10,000 plus two motor vehicles. In addition, she received $150,000 from his superannuation. The balance of the estate was left to his two children and … Continue reading Widow unsuccessful in out of time FPA
A recent SA decision has found that an executor owes the same duty as an administrator to get superannuation funds into the estate. More importantly, it was held that any conflict was not authorised by the will, because: there was "a sophisticated superannuation policy governed by a complex trust deed in which the trustee has discretionary functions." There … Continue reading Taking McIntosh one step further…
The Supreme Court of Queensland has recently found that a purported binding death benefit nomination in a self managed superannuation fund was not valid. The nomination referred to payment to "Trustee of Deceased Estate". It was found that, due to the distinct difference in the role of an executor and the role of a trustee of a deceased estate, … Continue reading Superannuation – When is a binding nomination really binding?
A very important decision re legal personal representatives and how their duties interact with superannuation. The applicant was the mother of the deceased and the administrator of his estate. The respondent was the deceased’s father. The deceased died intestate. As he had no spouse, his parents were to share his estate equally under the intestacy … Continue reading Fiduciary and Super don’t mix?
Notice to Practitioners - QSuper now accepts binding death benefit nominations. The deed refers to the provisions of the SIS Act, so the usual SIS Act limitations (such as the 3 year lapse rule) will apply. It is a step forward though. See the provisions of the deed here.
This article highlights how estate planning can go terribly wrong when self managed super funds are involved. It will be interesting to see if there is a negligence claim against the solicitors who drew the 2005 will. Read the article here.