As featured in the latest edition of QHA Review
Mullins Managing Partner, Curt Schatz, has previously stressed the importance of publicans having Wills and Enduring Powers of Attorney. Some clients ask what the point is of having a Will, which can ultimately be challenged.
While it’s true that Wills can be contested, they remain an essential tool for ensuring that your estate is distributed according to your wishes. For those with family businesses, such as pubs or hotels, balancing fairness among children—especially when some have contributed more to the family business than others—can be particularly challenging. It’s crucial to take into account not only their contributions but also their individual needs. In some cases, children may feel dissatisfied with the provisions made for them, especially if assets are personally held, leaving them open to dispute.
In Queensland, spouses, children and some other dependants are entitled to make an application to the court for family provision. The success of such an application depends on various factors, including their own financial position and the size of the estate. Estate disputes can lead to lengthy delays in the administration of estates, sometimes lasting for years. These disputes can also cause a breakdown in family relationships that can never be repaired.
To mitigate these risks, it is essential to seek specialist legal representation. Estate disputes require expert handling to ensure that a testator’s wishes are fulfilled as far as possible and that estate disputes are resolved quickly to minimise the financial impact on the beneficiaries of the estate.
Open discussions with your children regarding your intentions for passing on assets—particularly hotel assets—can be invaluable. These conversations may reveal potential points of contention, helping you to address concerns and possibly avoid disputes after your death.
As an accredited specialist in Succession Law I am experienced in estate litigation and offer confidential advice on the risk of an estate dispute arising from your current estate plan. If you have any questions or need assistance with this process, please contact me on 07 3224 0370.
