+ Reply to Thread
Page 3 of 5 FirstFirst 12345 LastLast
Results 21 to 30 of 43
  1. #21
    Join Date
    Jun 2005
    Location
    At the beach
    Posts
    10,495
    Thanks
    1,430
    Thanked
    9,003
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Awards:
    Busiest Member of the Week - week ended 17/10/14100 Posts in a week
    Quote Originally Posted by littleriv View Post
    Do you or someone have power of attorney you may be able to get this. Still see a lawyer asap!!!
    The OP has said he has no capacity. You cannot maker a power of attorney if you lack capacity.

  2. #22
    Join Date
    Aug 2011
    Posts
    376
    Thanks
    4
    Thanked
    50
    Reviews
    0
    My sister, mum and I have power of attorney currently, put in place before he lost his mental competence. Does this mean that we have the power to alter his will?!

  3. The Following User Says Thank You to CountryGirl77 For This Useful Post:

    littleriv  (31-01-2016)

  4. #23
    Join Date
    Jun 2005
    Location
    At the beach
    Posts
    10,495
    Thanks
    1,430
    Thanked
    9,003
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Awards:
    Busiest Member of the Week - week ended 17/10/14100 Posts in a week
    Quote Originally Posted by CountryGirl77 View Post
    My sister, mum and I have power of attorney currently, put in place before he lost his mental competence. Does this mean that we have the power to alter his will?!
    Is it an enduring power of attorney?

  5. The Following User Says Thank You to Sonja For This Useful Post:

    binnielici  (31-01-2016)

  6. #24
    Join Date
    Jun 2005
    Location
    At the beach
    Posts
    10,495
    Thanks
    1,430
    Thanked
    9,003
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Awards:
    Busiest Member of the Week - week ended 17/10/14100 Posts in a week
    Quote Originally Posted by Sonja View Post
    Is it an enduring power of attorney?
    Not that it would matter. An attorney doesn't usually have the power to amend a will.

  7. #25
    Join Date
    Jul 2015
    Posts
    6,866
    Thanks
    4,773
    Thanked
    4,210
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    100 Posts in a week
    you can't alter a will but you can make medical and financial decisions.

    eg: he might need permanent respite care and you all agree for him to go into a facility. you may then need to sell down some assets to help fund this ongoing care. an enduring financial POA will allow you to manage his assets in a way that is required, because he no longer has capacity himself.

    but you can't alter a will with POA.

  8. #26
    Join Date
    Aug 2011
    Posts
    376
    Thanks
    4
    Thanked
    50
    Reviews
    0
    I didn't think so. Yes, we have enduring POA, but not sure how that would affect the way in which his estate is distributed.

  9. #27
    Join Date
    Jun 2005
    Location
    At the beach
    Posts
    10,495
    Thanks
    1,430
    Thanked
    9,003
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Awards:
    Busiest Member of the Week - week ended 17/10/14100 Posts in a week
    Quote Originally Posted by CountryGirl77 View Post
    I didn't think so. Yes, we have enduring POA, but not sure how that would affect the way in which his estate is distributed.
    It's doubtful that it would. It means you can do the legal acts necessary to protect his interests and act in the interests of his estate but I can't see how it helps you with this problem.

  10. #28
    Join Date
    Aug 2010
    Location
    in a wormhole
    Posts
    2,769
    Thanks
    4,600
    Thanked
    2,802
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    If it's a sizeable sum then definitely go see a specialist estate lawyer. I work for a barrister specialising in wills and estates and giving advices on these kinds of matters is his bread and butter. It can be quite complex and not all lawyers understand the intricacies so it is worth seeing an expert not just your regular solicitor.

    There is an organisation called STEP - for lawyers and accountants specialising in trusts and estates. If you look at their website you can find a STEP practitioner near you.

  11. The Following 3 Users Say Thank You to MissMuppet For This Useful Post:

    KitiK  (31-01-2016),rosey82  (31-01-2016),turquoisecoast  (31-01-2016)

  12. #29
    Join Date
    Jul 2010
    Posts
    4,111
    Thanks
    2,897
    Thanked
    3,329
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    My parents have their will set up in a trust for us children. If they die we can do what we want but if in a divorce the other partner can't touch it. Same if they are declared bankrupt. They accountant set it up.

    Not sure if an accountant can do that under power of attorney. It cost a bit to set it up though

  13. #30
    Join Date
    Mar 2015
    Posts
    136
    Thanks
    51
    Thanked
    141
    Reviews
    4

    Default Legal type question re inheritance

    Quote Originally Posted by CountryGirl77 View Post
    My father is terminally ill and has days or weeks to live. He is leaving myself and my sister a fairly sizeable inheritance. We are both married with small kids, but both often wonder if our marriages are set to last the distance. My hubby has cheated on me online a and we spent 12 months in marriage counselling to try to patch things up. We are reasonably ok ATM but I don't really trust him and will tell him to leave if he ever does it again. It's a fairly loveless marriage at times but ok and with small kids we are soldiering on.

    My question is this: if we do split down the track, I assume that he will be entitled to half of this inheritance. The inheritance itself would make me financially independent if he was to leave, but not if he takes half of it. Does anyone know if we can draw up some agreement that this is my money if we do split down the track? I haven't broached this with DH and I suspect he would be offended, but his misdemeanours in the past make me nervous. We will use it to reduce our debt for now, and I'm happy to share it with him while we are together, but if one day we aren't I want to be able to walk away with it....does anyone know if that's possible?
    Firstly there is no automatic entitlement to half of anything - this seems to be a common misconception. The family court has a discretion to decide how assets are shared at the time of divorce and that is based on many things which I won't go in to but the underlying principle is always to be just and equitable.

    Secondly, you could enter into a binding financial agreement now that the inheritance is not part of the asset pool but obviously your husband would have to agree and get legal advice basically telling him his a fool for agreeing.

    There are other options. Setting the inheritance up in a trust for your children would be one. Disappearing the money would be another. Remember that it's your money and your husband is not entitled to any of it unless you were currently in the process of getting divorced. Therefore it is perfectly legal for you to take your money and spend it or invest it any way you see fit. And for the purposes of divorce, once money is gone it's gone.

    ETA I just wanted to say sorry to hear about your father as well. I'm sure it's a sad time for you
    Last edited by TeaM; 31-01-2016 at 19:25.


 

Similar Threads

  1. Is this legal?
    By DT75 in forum House & Gardens
    Replies: 111
    Last Post: 18-01-2016, 10:30
  2. Legal Advice- who from?
    By DT75 in forum Step-parents / Blended families
    Replies: 1
    Last Post: 15-10-2015, 14:48
  3. Staircase- legal requirements qld
    By SheWarrior in forum House & Gardens
    Replies: 18
    Last Post: 03-09-2015, 15:10

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
Ro&Co
Share magical moments this Christmas with this gorgeous gingerbread house. Exclusively available in Brisbane, with FREE delivery in Brisbane Metro areas. Each Christmas Centrepiece is unique and made to order, from $240.
sales & new stuffsee all
Wendys Music School Melbourne
Wondering about Music Lessons? FREE 30 minute ASSESSMENT. Find out if your child is ready! Piano from age 3 years & Guitar, Singing, Drums, Violin from age 5. Lessons available for all ages. 35+ years experience. Structured program.
Use referral 'bubhub' when booking
featured supporter
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!