In the first decision of its kind in Australia, a judge has allowed the 2001 will of a John Matsis, 90, who has severe dementia to be changed for tax and asset protection.
Matsis is in a nursing home for dementia sufferers, and will leave his grandsons $7.6 million worth of Australian property and 92 Greek properties, estimated to be worth $6.3 million. The Greek migrant from the island of Rhodes, who came to Australia with his wife Despina in 1944, built up his family fortune from a barber shop, the court heard.
His will leaves his $1.4 million West End home, where his grandsons still live with their mother Esther Charalambous, his adopted daughter who is not a beneficiary of his will, while the remainder of the estate will be equally shared by John Paul and his brothers, Carl Charalambous, 25, and Harry, 26.
(Source: news.com.au)
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