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Nemo dat quod non habet.
You cannot give that which you do not have
The & #39;nemo dat& #39; rule of estate planning. You can& #39;t leave something in your will if you don& #39;t own it. Relevant for authors - family dramas or thrillers.
#RWAus20
You cannot give that which you do not have
The & #39;nemo dat& #39; rule of estate planning. You can& #39;t leave something in your will if you don& #39;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& #39;m all over it).
It is incredibly complex, and a real horror story for families. The government doesn& #39;t automatically get everything.
#RWAus20
It is incredibly complex, and a real horror story for families. The government doesn& #39;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 & #39;interested parties& #39; 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& #39;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& #39;s RL situations.
Then a reference Jarndyce v Jarndyce in Bleak House. Top literary ref by @WriterEbony
#RWAus20
Then a reference Jarndyce v Jarndyce in Bleak House. Top literary ref by @WriterEbony
#RWAus20
