If was Corporal Jones from Dad’s Army who used to utter that immortal phrase, “don’t panic”. It’s advice retirees watching the value of their portfolios shrink in response to Trump’s economic nostrums should heed.
The failure to document how an estate should be legally divided up almost inevitably leads to costly legal battles where lawyers are the only sure winners. Yet about 60 per cent of eligible Australians don’t have a will.
This ruling, when coupled with the growing incidence of blended families, COVID-19 promises and the Baby Boomer wealth transfer, will accelerate the growth of legal challenges over inheritances.
