In a salutatory lesson on how family feuds can destroy everything, last December I wrote about an important Victorian Supreme Court case involving an SMSF death benefit and the validity of a Binding Death Benefit Nomination (BDBN). But there have been further developments in that same case that only highlight the importance of making sure all parties are happy with any estate planning measures you take.
You can read that article here: but here is the outline of the case to recap.
Maxwell Morris died in late February 2010. At the time of his death, Morris was married to Patricia Morris, his second wife. His daughters – the executrices of his estate – valued his net assets at over $1.8 million.