Intestacy and dying without a will in NSW makes dealing with an estate, whether it is a large or small estate, difficult because of the additional administrative burdens required to gain authority to deal with estate assets and to whom estate assets can be distributed.
If you would like to avoid the issues identified in this article, please contact us to have a will created. Our wills start from $330 for a single person and $550 for a couple. We also offer pensioner discounts and payment plans.
If you would like to book a meeting with us in person, over the phone or via audio/visual link, please follow this link to our bookings page or call us on 02 4934 6899.
Distribution of your estate
Dying intestate (without a will in NSW) means that the rules set out in the Succession Act 2006 (NSW) will dictate who receives your estate. Your beneficiaries will be:
1) Your Legal Spouse will receive 100% if all of your children are also the children of your spouse or if you do not have children. This can be the case even if you are separated at the time of your death.
2) Your Legal spouse to receive 50% plus a statutory legacy if you have children from a different relationship. The remaining amount is paid to your Children.
3) If you have no spouse, all of your estate is paid to your Children.
4) If you have no spouse and no children, then your parents will receive your estate and if you have no surviving parents your siblings receive your estate. If you have no siblings then your estate is distributed in the following order, nephews and nieces, grandparents, uncles and aunts and cousins. If you have no family, then the state of NSW will receive your estate.
Applying to administer the estate
If you die without a will, a beneficiary will need to apply to the Supreme Court to be appointed the administrator of the estate. This is called Letters of Administration. Before applying, your beneficiary must prove they searched for a will with local solicitors, established with Service NSW (Births, Deaths and Marriages) who are your legal children and spouse, prove are entitled to your estate.
This can be a tedious process for your administrator. These steps are avoidable if you have a valid will when you die.
Solving the problem
We can solve your intestacy problems by meeting with you prepare a simple will . For as little as $330, you can avoid all of the administrative issues associated with dying intestate. The process is much simpler than you can imagine. We often have a will drafted and signed within a couple of days.
If you would like to discuss getting a will, please book a free consultation with us here or call us on 4934 6899. We also have more information about our wills and estate planning practice here.
