Dying Intestate: The Legal Landscape
Without a will, you die intestate. This means the fate of your estate falls under the jurisdiction of the Administration and Probate Act 1919. In this case, your assets, including your home and bank accounts, may be distributed in a way that doesn’t align with your intentions. This often results in unnecessary stress during an already challenging time and financial hardship to your loved ones.
Safeguard your assets and ensure a smooth distribution of your estate with expert wills and estate lawyers Adelaide.
Inheriting Your Estate: Understanding the Hierarchy
According to Section 72G of The Act, the distribution of your estate follows a specific hierarchy:
- Only a Partner: If you have a partner but no children, your partner receives the entire estate.
- Children and Partner: With a partner and children, your partner gets an initial sum of up to $100,000. They will also receive half of the remaining estate, while your children will receive the other half.
- Only Children: If you have no partner but do have children, your estate is divided equally among them.
- Only Relatives: In the absence of a partner and children, but with the presence of surviving relatives, your estate goes to them according to The Act’s order of priority.
- No Surviving Family: If there are no partners, children, or relatives, the State becomes the recipient of your estate.
The JD Legal Perspective: Why Having a Will Matters
Having a will is more than a legal formality; it is one of the crucial steps in ensuring your wishes are honoured. At JD Legal, we emphasise the importance of clarity in property distribution. A will not only reduces the likelihood of disagreements, but it also provides a smooth transition for your grieving family.
Conclusion
Don’t leave your estate to chance. Plan and ensure your family’s future is secure. JD Legal is here to guide you through the process, providing insights and legal expertise to safeguard your wishes. Contact us today to take the first step in securing your legacy.
