Szabo & Associates News & Updates

It was recently reported in the Sydney Morning Herald (available here) that New York millionaire Leslie Ann Mandel left $100,000 to her 32 pet cockatiels in her Will, to ensure they’re well cared for following her passing. It may seem like a strange arrangement, to leave such a vast amount of money to pets, and admittedly this is a unique situation, but it also serves to demonstrate the usefulness of Wills that have been validly created.

It was recently reported in the Sydney Morning Herald that the family of the late cricket star Richie Benaud are embroiled in legal action over his estate (reported here). Mr Benaud's former wife, Marcia, and their adult son, Gregory, have raised a court action against his second wife, Daphne, over how the estate is to be distributed.

Legal experts have called for the Australian Government to scrap a loophole that allows the wealthy to pass superannuation to their children as a tax-free inheritance.

A team of solicitors working for the estate of the deceased billionaire Michael Wright have challenged a decision to award a $25m inheritance to his teenage daughter.

Many charities and not-for-profit (NFP) organisations benefit from gifts left upon death with many charitable bequests providing NFPs with vital funds to allow them to continue. However, with the emergence of DIY wills many charities are losing out from poorly constructed, loose Wills.