New Intestacy Laws came into effect today (1 March) in New South Wales

This is the next step on the harmonisation of New South Wales succession laws with the Uniform Succession Laws Project.

 

The changes increase the rights of a spouse (whether married or de facto) on intestacy.

 

Whilst a will is the preferred method of dealing with a person's estate, intestacy operates as a statiutary will that applies in default of a person making a will personally or through he intervention of the Supreme Court.

 

Key features of the legislation include:

The spouse's statutory legacy is increased to $350,000 The spouse has a preferential right to acquire property from the estate, not just the former residence of the will maker.

 

For more information consult a specialist succession, estate or wills lawyer.