DYING WITHOUT A WILL
DYING WITHOUT A WILL
When someone dies without a will (dies intestate) they often leave a mess behind them which others have to clean up. Confusion reigns about what will happen, who will get what, and how it will be dealt with. Relatives may be put under a lot of unnecessary stress. Solicitors will almost certainly have to be engaged.
SOME POSSIBLE OUTCOMES:
Your estate may not go to those you would have named had you made a will. Marshall v Public Trustee [2006] illustrates this. The deceased died intestate (without a will) and as a result the NSW statutory rules applied as to who would inherit. (See https://www.eqt.com.au/~/media/equitytrustees/files/legal-profession/inheritanceguides/inheritance-guide-nsw.pdf for more details). According to the rules, the deceased’ siblings with whom he had had no contact for 50 years were the beneficiaries instead of his step-sons who he had treated as his sons and for whom he had taken responsibility over many years. They received nothing under the rules.
Marshall v Public Trustee also illustrates how expensive and wasteful of the estate it is when plaintiffs go to court to challenge the outcome of the application of the statutory rules. Costs to bring the action were nearly $80,000 from a fairly small estate of $347, 515.00 which was therefore whittled down to $271,594.The court over-ruled the statutory rules and the stepsons inherited the (reduced) estate after all. Some foresight could have avoided this.
There could be other unintended consequences. If you are part of a blended family then a current spouse may need special consideration in your estate planning. You may have considered, for instance, giving them a portable life estate so that they have a home for the rest of their life. If you don't act on that, and there are children from a previous relationship, then the current spouse may not be as secure as you intended.
The list of possible adverse outcomes is endless. Flanagan Legal Newcastle at www.flanaganlegal.net.au can assist you to make a will now and avoid leaving a mess behind you.