23 July 2021Foo Soon YienIt is often believed that leaving a will is more about protecting one’s family than it is about your death. As such, many individuals leave wills in order to gain peace of mind that his/her family would be well taken care of and would remain harmonious in the future.
Post date. Edit this to change the date post was posted. Does not show up on published site. 23/7/2021 08 February 2019Foo Soon YienThe rule in Saunders v Vautier permits a beneficiary to terminate a trust if the beneficiary is of adult age, of sound mind and compels the trustees to transfer the legal estate to the beneficiary, thereby terminating the trust. This may be problematic as a testator may wish for the beneficiary’s share in his estate to be held on trust until a beneficiary attains an age, beyond majority. If the will is inadequately drafted, it may fail to achieve the testator’s true intention.
Post date. Edit this to change the date post was posted. Does not show up on published site. 8/2/2019 14 December 2018Foo Soon YienIn the administration of an estate, disputes may arise between the executor and the beneficiaries. While some disputes may be resolved by agreements between the parties, others may result in the delay of the administration of the estate. If an agreement cannot be reached and the dispute persists, the question is if it is appropriate for an executor of an estate to commence an action seeking orders or directions from the court to finalise the administration of the estate.
Post date. Edit this to change the date post was posted. Does not show up on published site. 14/12/2018 13 December 2018Foo Soon YienY, a mother of five children, added one of her children X’s name into her sole named bank account, thus converting the account into a joint account (“the Joint Account”).
When Y added X’s name into her sole named bank account, the Authorisation Form contained this clause: “In the event of death, the rule of survivorship shall apply to the Joint Account and the Bank shall be authorised to dispose of the balance in the Joint Account as the property of or to the order of the survivor(s)…” Y subsequently passed away intestate. The main issue arising from this fact scenario was whether, upon the death of Y, the monies in the joint account belonged to the Estate of Y or to X by the right of survivorship. Post date. Edit this to change the date post was posted. Does not show up on published site. 13/12/2018 12 December 2018Foo Soon YienA and B were appointed as executors and trustees of the deceased’s will. They were also 2 of the beneficiaries of the deceased‘s will. Upon the deceased’s passing, A attempted to obtain probate in respect to the estate. For several months after the deceased’s passing, A made several requests to B to make a joint application for probate. However, these attempts were futile. Instead, B objected to A dealing with the assets and gave notice to A not to deal with any matters pertaining to the estate without B’s consent.
Post date. Edit this to change the date post was posted. Does not show up on published site. 12/12/2018 28 February 2018Foo Soon YienWhen a person dies, a common issue is whether the monies in the deceased’s joint bank account should form part of the estate to be paid to the beneficiaries, or whether it should go to the surviving joint account holder.
Post date. Edit this to change the date post was posted. Does not show up on published site. 1/3/2018 28 February 2018Foo Soon YienYou are a beneficiary of a trust and your trustee misappropriated trust monies without your consent. Your trustee then passes away before legal proceedings are instituted against him. What legal recourse do you have against the trustee and/or his estate?
Post date. Edit this to change the date post was posted. Does not show up on published site. 28/2/2018 |
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