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Nemo dat quod non habet.
You cannot give that which you do not have
The 'nemo dat' rule of estate planning. You can't leave something in your will if you don't own it. Relevant for authors - family dramas or thrillers.
#RWAus20
You cannot give that which you do not have
The 'nemo dat' rule of estate planning. You can't leave something in your will if you don't own it. Relevant for authors - family dramas or thrillers.
#RWAus20
This also applies to rights and royalties - you need to know the details of the contract. Do you own them? Do you have a right or licence on them? What are you able to leave to others?
#RWAus20
#RWAus20
If you die without a will, that is intestacy (Agatha Christie and Ngaio Marsh wrote a lot of mysteries about that, I'm all over it).
It is incredibly complex, and a real horror story for families. The government doesn't automatically get everything.
#RWAus20
It is incredibly complex, and a real horror story for families. The government doesn't automatically get everything.
#RWAus20
Be aware - intestacy laws have NOT been updated for decades. What was deemed reasonable as the price of a house will not even be adequate for a deposit. It could now cause a family to be homeless.
Intestacy can cause tragedies. LEAVE A WILL. But good for authors
#RWAus20
Intestacy can cause tragedies. LEAVE A WILL. But good for authors
#RWAus20
Laws make baseline assumption that
- everyone has a will
- everyone who can make a will has done so
- intestacy laws are a back up
They are a formula, not frequently updated. Can lead to disaster, depending on who is left behind & the level of dependence (eg children)
#RWAus20
- everyone has a will
- everyone who can make a will has done so
- intestacy laws are a back up
They are a formula, not frequently updated. Can lead to disaster, depending on who is left behind & the level of dependence (eg children)
#RWAus20
If no immediate family (parents, siblings, etc) - then there is a sheet (?) that allows 'interested parties' to put in a claim. Can include charities the party was involved with, & close friends. They can put in a claim on the estate rather than have it go to the govt.
#RWAus20
#RWAus20
Myth: leaving someone $1 means they can't contest the will.
This is not true. The only way to prevent someone contesting a will is either to provide them with an adequate amount (which is undefined) or to have no assets.
#RWAus20
This is not true. The only way to prevent someone contesting a will is either to provide them with an adequate amount (which is undefined) or to have no assets.
#RWAus20
We were given case studies from Prince and Harper Lee's RL situations.
Then a reference Jarndyce v Jarndyce in Bleak House. Top literary ref by @WriterEbony
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Then a reference Jarndyce v Jarndyce in Bleak House. Top literary ref by @WriterEbony
#RWAus20
