Intestacy arises when a person dies without leaving a valid will. In such cases, the distribution of the deceased’s estate is governed by the intestacy provisions set out in the Administration and Probate Act 1958 (Vic) (“the Act”).
Commencing Monday 18 November 2024, the Victorian Government is introducing changes to the Supreme Court of Victoria’s Probate Office Fees. These changes follow a review, including public consultation, of the Probate Office fees undertaken earlier this year.
If I die first my joint tenancy asset goes the survivor. This is my spouse. Or if my spouse dies first I get my spouse’s interest in the joint tenancy asset. But what if we both die at the same time? For example, in a car accident or from an aeroplane crash. And it is not possible to get the order of death.
A reseal is necessary as the personal representative appointed (executor or administrator) by a grant in a foreign jurisdiction cannot deal with assets in Victoria, although enquiries should first be made with asset holders as some, such as banks and share registries, may accept a grant from another jurisdiction together with satisfaction of other requirements.
The last 3 decades have seen a substantial growth in the number of people in Australia establishing a family/discretionary trust. The benefits of such an arrangement have been largely touted by professionals around 2 areas – asset protection and tax benefits.
The last 3 decades have seen a substantial growth in the number of people in Australia establishing a family/discretionary trust. The benefits of such an arrangement have been largely touted by professionals around 2 areas – asset protection and tax benefits.
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