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The Importance of a Will

The importance of a will….

What happens if you die without a Will?

Wills and Estates

In Queensland, if you die without a Will it means you have died ‘intestate’.  This means intestacy laws of Queensland will determine how your estate is distributed and who may benefit.

The importance of having a will: Queensland Intestacy Laws

The intestate distribution rules in Queensland provide that your residuary estate may first go to your surviving spouse(s) and children.

If you have no spouse or children, then it may go to your parents.  If none surviving, it may go to the following persons in the following order: –

  1. brothers and sisters and nephews and nieces and if none or none surviving, then;
  2. grandparents and if none surviving, then;
  3. uncles, aunts and first cousins.

The intestacy laws also provide the proportions in which the above persons may receive from your residuary estate.

Residuary Estate

Where a person entitled to take any part of the residuary estate of an intestate does not survive you for a period of 30 days that part of the residuary estate will be treated as if that person had died before you.

If you are not survived by any of the above persons, the Crown is entitled to your residuary estate.  Again reiterating the importance of a will.

Letters of Administration

In circumstances where there is no Will, a personal representative will need to apply to the Courts for a Grant of letters of administration to administrate the intestate’s estate. Upon approval from the Courts, the personal representative nominated will be able to administer the estate.

If you die intestate, your estate may not be distributed in line with your wishes or be left to those persons you wish to leave it to. This is one of the reasons why it is important to have a Will.

This is general information only and does not constitute legal advice. If you require legal advice about this topic, please contact us at Klein Legal today!