One of Ailira’s most frequently asked questions is “what happens if I die without leaving a Will? “
In this situation you die Intestate.
What is intestate?
Dying intestate is what happens when you die without leaving a valid Will. The law then steps in and decides how and to whom your estate will be distributed.
In some cases, even those who have created a will can die intestate and have the will they drew set aside if the document itself does not comply with the following;
- Your mental capacity was not sufficient to make a Will before you died.
- You failed to properly distribute the estate’s assets in the Will you created.
- Your Will is invalid because it was not signed or witnessed as required by law.
- Your Will is damaged to a point where its validity is questioned.
Who receives and who is responsible for an Intestate Estate?
Each state and Territory varies on the rules of Intestate and how your estate is passed on.
In most cases the state/territory will decide on who is allocated as your next of kin and what portion of the estate they will receive.
Generally, the next of kin will be the closet living relative to the deceased ie;
As a last resort in circumstances where the deceased does not have a next of kin, the estate will then be handed over to the state.
Once a next of kin has been established under intestacy law, that person will need to apply for a letter of administration to be appointed executor of the estate.
A valid will increases your chances to ensure your assets are distributed as you wish. By appointing an Executor, you have someone responsible for looking after your affairs when you pass.
Ailira can help you easily and cheaply create a Will. You can book a time to have an Ailira Assistant guide you through the process