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Going going gone : avoiding ademption when assets are sold
Record ID:
49712
Format:
LIJ Article
Year:
2012
Author:
Groszek, Christopher ;
Subject:
Wills ; Estates ; Ademption ; Gifts ;
Source:
LIJ (2012) 86 No 11
Date_of_entry:
27/02/2013
Legislation:
Guardianship and Administration Act 1986 (Vic)
Notes:
A three-pronged test allows beneficiaries to receive the proceeds from prior sale of an asset gifted to them under a will, but careful drafting of the will could prevent problems.
Section:
Feature
Cases:
Simpson v Cunning [2011] VSC 466 ; Brown v Heffer [1967] 116 CLR 334, 348 ; Jenkins v Jones (1866) L.R. 2 Eq. 323 ; Re Viertel [1997] 1 Qd R 110 ; Banks v National Westminster Bank plc [2005] EWHC 3479 (Ch) ;
Month:
November
Links:
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