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I stopped talking to my father because he didn't pass on a portion of the inheritance like my grandparents intended. He's a piece of shit in many ways that I was accustomed to but that broke the relationship for me.
Hopefully when the time comes, my siblings and I can do an even split and everyone's happy.
Get your parents to write an actual will.
Where things seem to get messiest is if someone gets an 'advance' on what they'll receive in the will, except it's not written into the will so there is disagreement on whether they should get a full share or not.
As the article mentioned, wills are often contested. The cases they presented were all from people with wills, but the surviving parties didn't accept what the got in the will.
That's why a lot of wills add a clause that states anyone challenging the will automatically has their portion changed to $1.
the will only gets so far. for example there have been cases where children of a family have completely abandoned their parent/s, and a 3rd part good samaritan came along to help said person for years before their eventual death, and the will gave the inheritance to the good Samaritan, which causes the blood children to object.
the only clearcut way is to have the parties in attendance while the will is being written so that any objections wpuld get aired out while said person is alive and can make the call
Personally I've emailed my will to all interested parties so they have plenty of time to object.
This is understandable when you accept that your options in Australia (and many parts of the world) these days are either generational wealth or lifelong poverty. Not saying it's ok, just to be expected.
I agree in principle that inheritances perpetuate inequality, but it's very hard to implement. Many elderly people would "gift" their money to their children before their death to avoid an inheritance tax. They would argue it's their money, they should be able to decide what to do with it. Either that or elderly people would try to spend it down in their final years.
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