When you die without a valid Will, whether that is because you don't have a Will at all or if you have a Will that is not valid, it is called dying Intestate.
What happens if you die Intestate?
There are rules around Intestacy and these vary between the different States and Territories in Australia. However, generally there are rules around who is provided for first out of the wealth that you leave behind. For example, your Partner/Husband/Wife and any children you have may be first on the list, then your family members such as your parents and siblings are next in line.
Why does it matter?
What may surprise you is how that looks in terms of dollars. This varies between the different States and Territories in Australia and so it is always best to seek the advice of an expert. In Queensland for example, if you die intestate with a partner and children - your partner will receive the first $150,000 of your estate plus an equal share in the remainder of your estate and your children receive an equal share in the remainder of your estate. Perhaps you want your partner to receive more than $150,000 plus a share in the remainder of your estate OR perhaps you want your partner to receive less than that - either way you need a valid Will to make this happen!
We offer no cost, no obligation initial appointments so that you can find out where you stand and exactly how much it will cost you to get your Will and/or Estate Plan sorted. We offer fixed fees and payment plans - your wishes, your way.
Don't wait until it's too late, contact us today!
Phone 1800 22 33 90
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