If you die without a Will there can be many unintended consequences.
Some of these consequences may be:
- A person who you do not intend could control your estate. This could even be someone you do not know. An executor is a person who controls an estate when someone has died.
- Your estate could go to someone you do not intend it to. For instance, there are rules in relation to intestacy and these rules are relatively complicated. The estate may go to, for instance, an estranged spouse.
- You lose the opportunity to appoint a guardian for children under the age of 18 years.
- You cannot provide a direction in relation to whether you are to be buried or cremated.
- An unintended administrator may charge commission to your estate.
- You cannot minimise the risk of a claim being made against your estate. For instance, in New South Wales, there is a piece of legislation called the Succession Act which enables certain categories of people to bring a claim against an estate.
- You cannot make charitable gifts.
It is very important to obtain legal advice regarding your Will. To make an appointment, please contact us on (02) 9633 1826 or email email@example.com
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this publication is accurate at the date it is received or that it will continue to be accurate in the future. We are not responsible for the information of any source to which a link is provided or reference is made and exclude all liability in connection with use of these sources. If you do not wish to receive newsletters from us, please let us know.