How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask kmslaw Your Own Question
kmslaw
kmslaw, Solicitor
Category: Australia Law
Satisfied Customers: 195
Experience:  I have 15 years legal experience behind me and I graduated from the University of Sydney with First Class Honours in Arts/Law.
72036894
Type Your Australia Law Question Here...
kmslaw is online now
A new question is answered every 9 seconds

I am 75 years divorced with 2 adult children who I would

Customer Question

I am 75 years divorced with 2 adult children who I would like to inherit my home when I die..
I will soon sell my water allocation from when I had a farm which will enable me to buy a home.
I enjoy female company and have lady Philippino friend who comes to visit
I am considering purchasing my home in 3 names which will include my 2 adult children so everyone has peace of mind on inheritance
Appreciate some advice
Don XXX XXX
Submitted: 1 year ago.
Category: Australia Law
Expert:  kmslaw replied 1 year ago.

Hello my name is***** am a solicitor in NSW who will help you with your inquiry today. Do your two adult children have good jobs and have they accumulated an equal amount of wealth or are there large inequities between them? Does either of them have a severe disability? How long have you known your Filipino friend? Is your Filipino friend living with you to some extent and does she depend on you financially? All these questions will impact on whether you should leave each an equal share. Technically you will not be leaving your house to anyone in your will if you put the property into your children's names you will actually be gifting it to them while they are alive.

Customer: replied 1 year ago.
Both my children have degrees,,one already owns her home,,,the second is saving for deposit but does not have such a good job,,he is also studying for second degree... .No disability..Have not known Philippino friend long... when she comes to my home she will be depending on me financially,,,I do not intend to marry again...So it is possible to purchase in 3 names ? if I get sufficient $ to be independent retiree then I feel 3 names is the way to go...
Expert:  kmslaw replied 1 year ago.

If you purchase the home in 3 names will the third name be yours or the Filipino friend? Three names is possible but I wouldn't want you to be in a situation where everyone else owns the home and you get kicked out because you're not an owner. Are you sure you don't just want to have a will and leave it in thirds to those people? You may also need to provide more than a one third share to the son who is struggling if his needs are greater than your daughter.

Customer: replied 1 year ago.
The whole objective is to keep the lady friend from claiming part of my home, so the third name is mine.
Leaving it in a Will risks the lady friend claiming before and after I die,,this is the situation I want to avoid
The lady friend can be compensated some other way....Disappointed you did not realize what seemed to me obvious
Expert:  kmslaw replied 1 year ago.

You didn't mention your objective before. I can only take people's comments based on what they write, sorry. Everybody is different. You may have wanted her to inherit for all I knew.

Customer: replied 1 year ago.
I said at the outset, ï have 2 adult children who I would like to inherit my home"""
Please refund my money

Related Australia Law Questions