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Maurice
Maurice, Lawyer
Category: Australia Law
Satisfied Customers: 2764
Experience:  Lawyer (Juris Doctor, MBA IntBus) with 25 years Australian Business Experience at Your Service
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What is a Deed of Family Arrangement what can it be used f

Resolved Question:

What is a Deed of Family Arrangement what can it be used for?
Submitted: 5 years ago.
Category: Australia Law
Expert:  Maurice replied 5 years ago.
HelloCustomerbr />
In its simplest form, a Deed of Family arrangement is a deed signed during the life of the person making their will (called the testator) by everyone who would potentially have a claim on that person's estate, all the beneficiaries.

The deed would set out everyone's entitlements and that they will not challenge the estate after the person passes on which can be quite costly is one of the beneficiaries feel as is they have been hard done by, the deed spells it all out while the person is alive so no arguments can arise later.

The deed can be given even more weight by having it approved by the courts.

I trust this information is of assistance and that you will kindly accept my answer

Regards

Maurice
Customer: replied 5 years ago.
What if the Deed of Family Arrangment is done well after the testator is deceased?
Expert:  Maurice replied 5 years ago.
HelloCustomerbr />
The Deed as described can be created after the testator is deceased by mutual consent of the beneficiaries.

If all beneficiaries are adult, have full mental capacity and agree, a will may be altered after the testator's death by a deed of family arrangement.

 

The deed can include an agreement between parties with an interest in an inheritance - this can include beneficiaries, executors, trustees and even creditors of the estate.

 

It is used either where all parties are agreed that they would like to alter the terms of the will, for whatever reason, or where there is a disagreement over a will and the disputing parties are able to reach a compromise without going to court.


I trust this clarifies your question and that you will respectfully XXXXX XXXXX answer

Regards

Maurice
Maurice, Lawyer
Category: Australia Law
Satisfied Customers: 2764
Experience: Lawyer (Juris Doctor, MBA IntBus) with 25 years Australian Business Experience at Your Service
Maurice and other Australia Law Specialists are ready to help you

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