Battle over 14m estate
by Sarah Dunn | Nov 18, 2024 | Latest News
A recent case that has attracted significant media coverage underscores the importance of keeping your estate planning documents up to date when a significant life event happens.
In July 2023, millionaire Andrew Findlay passed away in a freak boating accident, leaving behind a $14m estate. He had been in a de facto relationship for 7 years with Liz Kemp and they’d had 3 children together, but had separated in 2019. They had formalised a family law property settlement at that time dividing up their matrimonial assets.
Mr Findlay had last updated his Will in 2015, leaving his estate to Ms Kemp and appointing her as his Executor. But, in the months after they separated in 2019, he had emailed a draft ‘Will’ to his cousin that left everything to his three children (all aged under 10) and appointed the cousin as the Executor of his estate. The ‘Will’ was not signed or witnessed but Mr Findlay’s email to his cousin was very clear about his intentions.
Following Mr Findlay’s death in 2023, Ms Kemp moved into his home, assumed ownership of his car and presumed herself the major beneficiary entitled to his estate.
Mr Findlay’s family, however, disputed her claims, taking the matter to Court and arguing that she was not legally entitled to any portion of the estate. They were relying on the 2019 informal Will that had instead left everything to the children.
After a 3 day trial in the Supreme Court, the Judge found that, although the 2019 was not signed or witnessed, she was satisfied that Mr Findlay had intended this document to form his Will. This was particularly so given the end of his relationship with Ms Kemp and that he had accumulated significant wealth.
The months of litigation caused great tension between Mr Findlay’s family and Ms Kemp and brought about increased anxiety regarding the financial future of the three children. The case attracted significant media coverage due to the vast size of the estate and the high-profile figures involved and serves as a reminder that significant changes in personal circumstances will always require you to revisit your Estate Planning documents. If you get married, have children or separate from your partner, it’s worth seeing your solicitor to review your Will, Power of Attorney and Enduring Guardian.
Our Estates Team has decades of experience and can help you review your documents at any of our 4 offices – Picton, Camden, Narellan and Gregory Hills.