Without creating a Will or contacting an Estate Planning Lawyer to assist in creating a Will, your estate may be inherited by people you may not wish to benefit from your death. According to the Succession Act (2006) The hierarchy for relatives receiving the estate is as follows:
- Spouse
- Children of the deceased
- Parents
- Brothers and Sisters
- Grandparents
- Aunts and Uncles
- First Cousins
This list is exhaustive and the estate will be provided and divided to the next available relative category. For example, if you don’t have a spouse or children, your estate will be divided amongst your parents, and if no surviving parents, your brothers and sisters equally, and so on.
If you are still legally married to your spouse, your estate will be passed onto your legal spouse regardless of whether you have separated or not. A ‘legal separation’ is not sufficient to prevent an ex-spouse from receiving a benefit from your estate.
Without a Will, the court requires evidence that you and your spouse’s marriage had ended and there were no longer moral or financial ties. This can be a long and costly process for your loved ones and can be avoided by creating or updating your Will.
It is important to make a Will and review it regularly to ensure that your assets are inherited by those you wish to receive it.
The estate planning lawyers at Matthews Folbigg Lawyers can provide legal advice and assistance in drafting a Will, Power of Attorney and Enduring Guardianship. To discuss this matter further with an estate planning lawyer, please contact our office.
