{"id":849,"date":"2018-08-15T00:46:03","date_gmt":"2018-08-14T14:46:03","guid":{"rendered":"https:\/\/mnygroup.wpengine.com\/?p=849"},"modified":"2025-02-01T15:53:59","modified_gmt":"2025-02-01T04:53:59","slug":"changing-a-will-after-a-death","status":"publish","type":"post","link":"https:\/\/mnygroup.com.au\/en\/changing-a-will-after-a-death\/","title":{"rendered":"Changing a will after a death?"},"content":{"rendered":"

Changing a will after a death? A deed of family arrangement<\/strong> can make it possible!<\/p>\n

There are times when the terms of a\u00a0deceased\u2019s will are not suitable and the\u00a0beneficiaries involved seek to have the will\u00a0varied. There are various situations where\u00a0this may be the case, such as changing\u00a0circumstances over a long period of time\u00a0from when the will was first drafted, or an\u00a0the estrangement between family members is\u00a0healed (or vice versa).<\/span><\/p>\n

\n

This is where a deed of family arrangement\u00a0can be utilized, however, it is an option that\u00a0requires all interested parties to agree on\u00a0the outcome.<\/strong><\/p>\n

This can, however, result in the settlement\u00a0outside of litigation, which can otherwise tie\u00a0up an estate for months or even years.<\/p>\n

Deeds of family arrangement can be used in\u00a0a number of circumstances, such as:<\/p>\n

– where there are doubts about the\u00a0meaning of a will<\/em>
\n– where beneficiaries wish to rearrange the\u00a0distribution of the estate between them<\/em>
\n– to compromise a claim against the estate\u00a0where there is a challenge to the will<\/em>
\n– to create an estate proceeds trust under\u00a0taxation legislation.<\/em><\/p>\n

Where the will is varied through a deed\u00a0of arrangement which meets certain\u00a0requirements, generally the parties may\u00a0disregard the resulting capital gains or\u00a0losses. Care needs to be taken however\u00a0as there can be some variation on the rules\u00a0from state to state, such as stamp duty. Note also that a deed of family arrangement\u00a0that would act to reduce the benefits\u00a0accruing to a minor or a disabled person\u00a0may require court approval.<\/p>\n

Care needs to be taken with any deed\u00a0of arrangement, and the advice of a\u00a0professional is highly recommended.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1692],"tags":[],"class_list":["post-849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-tax","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-20"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/posts\/849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/comments?post=849"}],"version-history":[{"count":0,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/posts\/849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/media\/850"}],"wp:attachment":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/media?parent=849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/categories?post=849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/tags?post=849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}