As the holiday season comes to an end, you may have had
discussions with your family about planning for the year ahead. An
important part of that plan might be to ensure you have a Will in
place.
Quite often, we are asked "what happens if I die without a
Will?" In this edition, we explain the rules of intestacy
which apply if a person dies without a Will or where the Will does
not effectively dispose all or part of that person's property.
The rules are set out in
Chapter 4 of the Succession Act 2006 (NSW) (Act).
As we are now seeing an increase in blended families, second
marriages and domestic relationships, there is a need more than
ever to have a Will in place. A Will enables you to provide for
more than just family members (for example friends and charities)
as you see fit. Substantial administrative work and anxiety placed
on family members if you die without a Will, is also avoided.
