Hi Max1963,

I think you'll need to discuss this in detail with your Trustee as the answers will depend on the detail of your circumstances, the Trust Deed itself and the reason for the insurance payout.

Sorry not to be able to provide a clearer answer.

Hi max1963

the answer is yes. A payment like the one described may be regarded as acquirenda ie money/windfall received before the discharge of the Trust Deed.

Mark

as i am not the executor of my dads will, and I have a letter stating that I waiver my right s to any of the money and that my kids should get it. will there be any come back

Hi max

It's a slightly complicated one as you could argue that the claim has crystalised and therefore exists and any 'waiver' could be regarded as a disposal of assets. If there has been no finalisation of the claim, then you could argue that the asset does not exist and the waiver is valid.

The above scenario is different from a will where the person is alive and therfore you/they could change the will of their own volition (good word!)

Not sure if that helps as I've argued against myself.

Mark

Mark,

Are you saying that the letter that I wrote to my sister, before the claim had settled will be enough. The claim was not finilised when the letter was written.

Hi max

Unfortunately the matter is too complex to give a definitive answer.

By way of example, a couple divorce and there is a minute of agreement where the guy signs the house to his wife. The minute of agreement is signed and registered, however there is no formal transfer in the title deeds. The guy is sequestrated or signs a trust deed.

Legally the house is still in joint nmaes and the Trustee has an interest in the one half share.

Sorry it's a bit of a vague link, but from the information all you have is a letter, however in the main document (The Will)there is no amendment and the position stands with the terms of the will.

Mark

the letter was written before the case settled, it hasn't settled yet. there was no will left as my father didn't have any assets at the time of his death.

Hi max1963,

I think you should discuss all of this in detail with your Trustee.

As Mark has said the situation could be interpreted in differing ways; the interpretation that will matter most for you is that of your Trustee.

As trust deed assistant says, you will need to discuss this with your trustee, though perhaps speaking to a lawyer may be useful too!
Hope everything works out ok.