$732,133.76 reasons why an Executor should obtain the best legal advice...
Written on the 15 March 2013 by Adrian Corbould
In a Decision of the NSW Supreme Court handed down on 31 January 2013, a Judge has ordered a person who obtained a Grant of Probate of a Will, and then distributed the estate pursuant to the Grant of Probate, to reimburse the estate for the monies distributed.
The Law essentially provides an executor with protection from claims on him or her, if he or she makes due enquiry as to the existence of any claims on the estate (generally done by advertising in the local newspaper), then satisfies any claims on the estate and distributes the balance of the estate in accordance with the Will. In this recent case, the executor's problem was that notwithstanding he received no notice of claim in response to his advertisement in the local newspaper, he disregarded a notice of a claim by a beneficiary under an earlier Will (to the effect that the later Will was invalid) that he had received prior to placing his advertisement. The executor proceeded to distribute the estate in accordance with the later Will.
The beneficiary of the earlier Will challenged this action successfully. The Grant of Probate of the later Will was overturned and replaced with a Grant of Probate of the earlier Will, and amongst other orders, the Judge ordered the Executor of the later Will to reimburse the Estate the monies distributed by him$732,133.76.
If you would like to read the Decision, click here.
Author: Adrian Corbould
About: Adrian is an Accredited Specialist in Wills & Estates Law. He practises exclusively as a member of the Contested Wills & Estates team. For more than 10 years, Adrian has helped hundreds of clients, and his tenacity and experience make him one of the most sought after Will Contest Lawyers in New South Wales (NSW).Connect via: Twitter Google+ LinkedIn
Adrian Corbould is a Law Society Accredited Specialist in Wills & Estates Law. For more than 15 years he has helped hundreds of clients in contested estate matters. His tenacity and experience make him one of the most sought after Will Contest Lawyers in New South Wales (NSW).
Adrian is an Accredited Specialist within the Contested Wills & Estates Team. In certain circumstances, the team operates on a 'No Win, No Fee' basis. If you'd like to discuss your circumstances with a member of the team, call us and ask for a Free Appraisal.
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