{"id":10704,"date":"2023-10-31T23:05:18","date_gmt":"2023-10-31T12:05:18","guid":{"rendered":"https:\/\/chuatan.com.au\/?p=10704"},"modified":"2023-10-14T23:06:27","modified_gmt":"2023-10-14T12:06:27","slug":"understanding-fixed-inheritance-an-updated-guide","status":"publish","type":"post","link":"https:\/\/chuatan.com.au\/en\/10704\/","title":{"rendered":"Understanding Fixed Inheritance: An Updated Guide\u00a0"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"10704\" class=\"elementor elementor-10704\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5f4c813 e-flex e-con-boxed e-con e-parent\" data-id=\"5f4c813\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e650df9 elementor-widget elementor-widget-heading\" data-id=\"e650df9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Understanding Fixed Inheritance: An Updated Guide \n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-536a403 e-flex e-con-boxed e-con e-parent\" data-id=\"536a403\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5d6d105 elementor-widget elementor-widget-text-editor\" data-id=\"5d6d105\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Beneficiaries can only draw income from the estate and do not have access to the principal, which is referred to as an interest in a \"fixed estate\". For example, a will may direct that the income of an estate go to a spouse during his or her lifetime, and that upon his or her death the principal amount bequeath to the children. In this case, the role of the trustee includes managing the capital investments to ensure their continued value to the beneficiaries and paying the income to the spouse. The way in which the fixed share is invested depends on the terms set out in the will. If these provisions are not in the will, the investment instructions revert to those set out for the trust in the Trustee Act 1958 (Vic). The Property Law Act 1958 (Vic) provides additional insight. When a will allocates a life interest in tangible property, it is the Settled Land Act 1958 (Vic) that provides for the administration of that interest. That Act confers certain privileges on life tenants which may exceed the powers of the trustees identified in the will. Given the rather complex nature of the law governing the administration of fixed estates, when drafting or executing a will with such provisions, please contact the experienced team at Choi Ching Wai &amp; Co, if you would like us to assist you, please<\/span><a href=\"https:\/\/chuatan.com.au\/%e9%81%97%e5%98%b1\/\"><span style=\"font-weight: 400;\">click here<\/span><\/a><span style=\"font-weight: 400;\">Learn more, or<\/span><a href=\"https:\/\/chuatan.com.au\/%e8%81%94%e7%b3%bb%e6%88%91%e4%bb%ac\/\"><span style=\"font-weight: 400;\">Contact Us<\/span><\/a><span style=\"font-weight: 400;\">of the office.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>\u7406\u89e3\u56fa\u5b9a\u9057\u4ea7\uff1a\u6700\u65b0\u6307\u5357 \u53d7\u76ca\u4eba\u53ea\u80fd\u4ece\u9057\u4ea7\u4e2d\u63d0\u53d6\u6536\u5165\uff0c\u800c\u4e0d\u80fd\u63a5\u89e6\u672c\u91d1\uff0c\u8fd9\u88ab\u79f0\u4e3a\u5bf9\u201c\u56fa\u5b9a\u9057\u4ea7\u201d\u7684\u5174\u8da3\u3002\u4f8b\u5982\uff0c\u9057\u5631\u53ef [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[25],"tags":[],"class_list":["post-10704","post","type-post","status-publish","format-standard","hentry","category-25"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.2 (Yoast SEO v28.3) - 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