I've only got two sons and they are on good terms with each other so I suppose they will work it out between themselves when I die. What will happen to my estate when I die if I don't write a will? I'd like to let my boys know.
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Answer by Neha Sharma, Hillsdale 2036 NSW
- A person who dies without a will (or without a valid will) is referred to as dying 'intestate.' This is an 'intestacy.'
- The laws of intestacy are complicated and the process can be time consuming depending on the size of estate and the mix of any surviving heirs. Generally the Supreme Court in your state or territory will appoint a suitable administrator. This will probably be one of your sons.
- The administrator is responsible for:
- arranging the funeral;
- collecting assets;
- establishing a list of beneficiaries;
- paying debts; and
- distributing your remaining assets to beneficiaries.
- For a person to receive a benefit under an intestate estate in NSW they must survive the intestate person (deceased) by 30 days. This is called the survivorship rule.
- This means that if you and one of your sons were both killed in an accident then that son (or his family) would not receive any of your estate.
- Your other remaining son would receive the entire estate.
- You may be comfortable with this but if your sons have families who you intend would also receive some of the benefit of your estate then you should consider engaging a lawyer to write a will to give effect to your wishes.