If someone dies and has not left a Will they are said to have died “Intestate”. In these circumstances the estate must be distributed according to the laws of intestacy – which may not be what you want.
For example:
Bob aged 19 years was brought up by his mother, a sole parent. His father left him and his mother before Bob was a year old. They think his father lives in Queensland. Bob lives at home with his mother and is employed as a carpenter. Bob is working on a building site when he has an accident and dies. Bob never made a Will and has no wife or children or even a girlfriend. Under the laws of intestacy his parents receive his property in equal shares. His Workers Compensation payout is approximately $480,000 which will be paid to his estate and his father will receive half. This is not what Bob would have wanted.
It is very important you have a valid Will in place – even when you have minimal assets.
Want to find out more?
For fast, accurate & timely legal advice contact Smallwoods Lawyers now on +61 2 9939 3446 or Email office@smallwoods.com.au
