In the State of Victoria, the consequences of passing away without a will, commonly known as dying intestate, are governed by the laws of intestacy. These laws dictate the distribution of assets based on a predefined hierarchy, which may not necessarily align with an individual’s preferences or family dynamics.
When someone dies intestate in Victoria, the assets are distributed following a specific order outlined in the Administration and Probate Act 1958. The first priority goes to the surviving spouse or domestic partner, who is entitled to the entire estate if there are no children.
If there is no surviving spouse or domestic partner, the next in line to inherit are the children, who will equally share the entire estate. In the absence of a spouse or children, the next level of intestate succession involves parents, followed by siblings, nieces, nephews, and other relatives. If there are no living relatives, the estate may revert to the State.
The intestacy laws in Victoria lack the flexibility that a well-drafted will provides. Without explicit instructions, the distribution may not reflect an individual’s unique family circumstances, potentially leading to unintended consequences.
Furthermore, dying without a will in Victoria can complicate matters related to the appointment of an executor. The court may need to appoint an administrator to manage the deceased’s estate, incurring additional costs and potentially causing delays.
In cases where minor children are involved, dying without a will means that the court will decide on guardianship arrangements. This decision may not align with the deceased’s preferences, emphasizing the importance of having a will to designate a guardian for minor children.
Dying intestate in Victoria may result in increased probate costs, as legal fees and administrative expenses accumulate during the probate process. The lack of a will also means that the deceased’s estate becomes a matter of public record, compromising the privacy of personal affairs.
The implications of dying without a will in Victoria are substantial, affecting the distribution of assets, guardianship arrangements, and incurring additional costs. To ensure that your wishes are honoured and your estate is managed efficiently, engaging in proactive estate planning, including the creation of a comprehensive will, is crucial.
