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Understanding intestate succession: a comprehensive guide 

  • November 2, 2023

Home " Legal Blog " Wills and Deceased Estate Administration " Understanding intestate succession: a comprehensive guide 

Understanding intestate succession: a comprehensive guide

What happens when there is no valid Will? Family members are often unsure whether a Will exists or where it is located. If the Will is not in the deceased's personal papers, it is advisable to carry out a search at the deceased's bank and consult their solicitor, accountant or trustee company that may be involved. Public adverts in daily newspapers and law school magazines may also help. Disadvantages of dying intestate: the main problem with intestate succession is the lack of autonomy in the distribution of property. By default, the estate will be divided between the nearest blood relatives in accordance with Section 70 of the A&P Act. These proportions are fixed and usually do not take into account personal preferences or specific family needs. Key points to consider: After 8 November 2001, domestic partners gained inheritance rights in intestate estates (s 51A A&P Act) The A&P Act defines "domestic partner" to include those in a bona fide family relationship, regardless of gender. "The term 'child' includes children born out of wedlock under certain conditions (s 7 The Status of Children Act 1974 (Vic) or 'SoC Act'). Another challenge with intestate succession is determining who should handle the administration. Usually, those with the largest share of the estate will be chosen. However, if others start the process quickly, they may be prioritised. With regard to assets, different rules apply depending on the date of the deceased's death. For those who died after 1 November 2017, the administrator has autonomy over the sale or transfer of assets. To ensure proper administration, the court may require insurance bonds or guarantees. Their role is to guarantee that any financial problems caused by any mismanagement by the administrator are resolved (s 57 A&P Act). The requirement for such guarantees is governed by the A&P rules. Repayment of debts: the procedure for repayment of debts is similar to that which occurs when there is a valid will. However, in the case of intestacy, the word "administrator" is used instead of "executor". If you would like us to assist you, pleaseclick hereLearn more, orContact Usof the office.

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