Why you should make your will?

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jakariaislambd
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Joined: Sun Dec 22, 2024 3:34 am

Why you should make your will?

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But misfortune strikes. Philippe contracts COVID-19 and develops major complications. He dies in the prime of life, leaving behind his partner and young children. In addition to grieving, she will have to face significant difficulties in settling the estate. Clara is convinced that as co-owner, her partner's share of the family home automatically goes to her, as does the car they bought together. She also believes she can collect the life insurance proceeds and use them to repay the balance of the mortgage.

But the notary she consults gives her the whatsapp australia facts and Clara is shocked... Indeed, the lawyer tells her that in the absence of a will, since she is not married, she cannot inherit and that the heirs are her minor children. They are therefore the ones who become the owners of Philippe's undivided share in the building and the car. They are also beneficiaries of the proceeds of the life insurance policy, which cannot be used to repay the mortgage loan as their mother believed. The notary also advises her that even if married to Philippe, due to the absence of a will, she would only have been entitled to inherit for one third of the undivided share, and the children for two thirds.

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Things get even more complicated: unable to bear the financial burden of the house alone, she must resolve to sell it. To do this, and as guardian of her minor children, she will have to obtain the unanimous authorization of a family council as well as the authorization of the court before being able to proceed with the sale. In addition, she will not be able to use the net proceeds of the sale relating to Philippe's share, since it is the children who inherit it. When they come of age, she will also have to give them the money that she has administered. However, she fears that they will then not have the maturity necessary to receive such a sum and that they will quickly squander an estate that will have taken her so much effort to administer.
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