Advice for Families Inheriting Property

One issue frequently facing bereaved families following the loss of a loved one is what to do with any property included in the deceased’s estate, particularly if the property has been in the family for several generations. The issue becomes increasingly complex if multiple family members are beneficiaries of the estate.

Possible options include one beneficiary buying out the shares of others, so that the property can remain in the family, or selling the property and sharing the proceeds amongst all the nominated heirs.

This situation is discussed in a recent article published by Domain News. In the article George Szabo, from Szabo & Associates, Solicitors, advises that the first step for any families that find themselves in this situation should always be to look at the will of the deceased. For further information, read the article here.

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Szabo & Associates, Solicitors can offer expert advice on a wide range of legal matters, including contesting, making or updating a Will and preparing a Power of Attorney. Please call George Szabo on (02) 9281-5088 or fill in our online contact form.