DECEASED OWNERS?

I noticed that a deceased owner had 2 winners.The late Gunthers R.colours were paraded in the no 1 box,and the great racing enthusiast past away.Can anyone comment on what the rules are, or what form of action takes place???????

It's the laws of the country that kick in, not the rules of racing. Like any asset, horses fall into the estate and things go on till the beneficiaries take over.

Some estates can take 2 years or more to be wound up.The beneficiaries could be sitting with quite a large account,if the horse is mediocre.

A client and friend of mine passed away with horses in training and on farms including with me. Between the widow, the executor and the various trainers and managers we played out the positions the best we could. The executor has the final legal authority taking into account specific instructions in the will, basically has the same authority of the owner on behalf of beneficiaries.

Horses have to be fed and trainers still have to be paid, profits & losses accrue to the estate. If the estate is under pressure, executor will start to dispose soonest to not incur further loses. Colours and authority to act divert to the estate.

8.4 DEATH OF A PERSON HOLDING INDIVIDUAL COLOURS
Should the PERSON referred to in RULE 8.1 die, his COLOURS shall remain
REGISTERED for a period not exceeding 6 MONTHS from the date of death,
whereafter such COLOURS shall lapse unless the lawful representative of the
deceased’s estate shall have applied for and been granted COLOURS. The
lawful representative shall apply for the REGISTRATION of COLOURS in the
name of the estate if the estate wishes to continue racing the HORSES which
were owned or leased by the deceased at the time of his death. Such
representative shall assume the responsibilities of an OWNER and shall be
subject to the CONSTITUTION and the RULES.

Thanks Jack Dash.

Note! This does not include dying for a winner zoro

Scotia back Di an na on Monday to get you back on track.