A R Walmsley Solicitors Sydney



Oscar aged 74 who had re-partnered with Othelia aged 73. Their adult children were up in arms about the relationship. They thought they were going to lose their inheritance. Oscar and Othelia had asked a Solicitor interested in estate planning for help.

Oscar had a farm and Othelia had a house and $1 million in cash invested. Othelia's main concern was to provide a secure life for Oscar if she were to go to Heaven. "Well, does Oscar have to live in your house?" "No, but I wouldn't want him to be kicked out." "Well, why don't you allow Oscar to stay in the house for a period of six to nine months after your death and then provide for the house to be sold and the proceeds to be used to buy something smaller for Oscar's use during his lifetime?" "That sounds a good idea. Can I do that?"

Othelia could make that type of provision in her Will. Oscar need not own the new house or apartment, but could have the use of it for the rest of his life. Othelia could also provide Oscar with the use of a small fund of money so that he can provide for those little extra things which his pension may not provide for. Ultimately, the house or apartment that Oscar uses during his life will become the property of Othelia's children. In the meantime, Othelia's children will have the benefit of the bulk of her investments.

Othelia is smiling for the first time since the Solicitor met her. The Solicitor has assured her that there are solutions to the problems. In order to assist her relationship with her children, a conference with the children is arranged so that they are aware of what their mother has in mind. This conference will give them peace of mind that they are not being disinherited.

Oscar's situation is a lot easier to resolve. There would appear to be no need for Oscar to provide for Othelia provided her financial situation is reviewed every couple of years. In that way, Oscar can give some security to his two sons who feel very vulnerable. They can continue to work the farm and pay their father a small income to supplement his pension. They also attend a conference with their father and Solicitor to have the plan explained to them.

After the conferences, and the documents have been put into place, the children are somehow not so anxious about their parents' personal lives. There are solutions to these difficult problems. Solutions are found through asking the right questions, getting the right help, and putting into place the right plan.

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