What happens if I can’t find a Will?
Without a Will, your loved one’s Estate is considered to be ‘intestate’. This means that the rules of intestacy will be applied to divide their assets.
If the Estate is under $5001.00 with no Loan accounts, Letters of Administration are not required and the Next of Kin will be the authorised party to act of behalf of the Estate.
For any Estates with a total value above $5000.00, or an Estate with Loan accounts, Letters of Administration will be required when there is no Will. In this instance, the Administrator will be the authorised party to act on behalf of the Estate. The authorised party will be responsible for gathering all relevant documents and requirements to help with settling the Estate.
If you haven’t managed someone else’s finances before, it can be overwhelming. Please contact us on Customer Support on 07 3135 3525 (Mon-Fri, 9am-5pm AEST) to find out how we can assist you with the process.