Life Estate-step son has one. Public Trustee are Executors of the estate. Remaindermen are 1. his auntie if she survives her nephew & 2nd Novita Childrens Services if Auntie dies before her Nephew. Auntie has stated she doesn't want to inherit the place if she survives her nephew. She would like to relinquish her inheritance now and have the house reverted to her nephew so that he has (owns) the house outright. Rather than filing for a "deed of family arrangement"where all parties have to be in agreement...is it possible to get a lawyer to draw up a legal document stating that the auntie wants to relinquish her inheritance and give the house to her nephew NOW!!! The Auntie signs the document. Can this be done? Novita Children's Services don't even enter the equation yet anyway not until the Auntie dies before her Nephew. At this stage it's between the Public Trustee and the Auntie to be in agreement surely as the Public Trustee are after all acting in her interests being the next beneficiary at this time.
Country relating to Question: Australia
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Good MorningIt can be done by way of deed and the deed needs to be lodged with the court for approval.All beneficiaries will have to enter the deed. If they don't sign relinquishing as well then they may take in place of the aunt.All parties need to be signed and it needs to be approved by the court.I hope this is of assistance and if so please click on the accept button.
BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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