Abstract

There are major legal and cultural differences across countries in principles guiding intergenerational transmission of wealth, and individual differences in views on inheritance.1 Australian succession law is based upon English common law, starting with the presumption of testamentary freedom, which allows a testator to dispose of their estate as they see fit. However, this freedom can be limited by family provision laws that allow 'eligible applicants' to contest distributions on the basis of insufficient provision in accordance with legislation of the particular State or Territory. Hence, the legal framework represents a balance between testamentary freedom and familial obligation. Internationally there are significant cultural and legal differences in the degree of will-makers' testamentary freedom.

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