Reference no: EM132998834
Question - Sam has been separated from his wife, Emilia, for two years. Both live in New South Wales. They have only recently settled the matrimonial assets, but have not yet signed the divorce papers. After settlement, Sam's asset position is as follows:
Holiday house in Bryon Bay $600,000
Shares $200,000
Total assets $800,000
After settlement, Sam decide to sell his holiday and use the proceeds to buy another property close to his work in Sydney to use as his principal residence.
Shortly after moving into his new house, Sam suffers a heart attack and dies. The last time Sam updated his will was two years ago, when he first separated from Emilia. Sam's will bequests his holiday house in Byron Bay to his adult daughter, Lisa and his shares to his son, Peter, who died in an accident six months prior to Sam's death. The will does not include a residuary clause.
What significant issues relating to wills arise from this situation?
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