27 Sep Does the Government Inherit My Estate if I Don’t Have a Will?
Many people understand that they should have a Will but many don’t seem to get around to doing it…
In Queensland, if you die without a valid Will, you are deemed to die Intestate.
The assets, or estate of any person who dies Intestate must be distributed in accordance with The Succession Act. The Act does not provide for all affected parties to negotiate who is to received what assets and in what proportions….it simply states how it is to be divided up.
If the deceased had no living family when they passed (this includes spouse, children, parents or next of kin), then the government is entitled to the full value of the estate.
If you yourself have no living relatives but you don’t wish for the government to benefit from your estate or you do not wish for particular relatives to receive an inheritance from your estate, you must have a valid Will drawn up.
The cost of a simple Will pales in significance to the potential cost of your estate being involved in an Intestate issue and having to make investigations as to who is entitled to your estate.
Fedorov Lawyers has an experienced Wills & Estates team who can give you the advice you need about estate distributions and draft you a valid Will.
Call us now to make an appointment.