Szabo & Associates News & Updates

Background

Letters of Administration grant authority to administer an estate of a deceased person. They are granted where the deceased dies intestate (without a Will) or where there is no executor of a Will to apply for Probate. Interested parties, such as beneficiaries, banks and insurance companies, will require someone to be granted Letters of Administration before funds from the deceased’s estate are released.

It was recently reported in the Sydney Morning Herald that the family of the late cricket star Richie Benaud are embroiled in legal action over his estate (reported here). Mr Benaud's former wife, Marcia, and their adult son, Gregory, have raised a court action against his second wife, Daphne, over how the estate is to be distributed.

It was recently highlighted in the Sydney Morning Herald, that it is incredibly difficult to design a Will that is completely free of the risk of being challenged. The article highlights the increasing number of people in Australia that are challenging a loved one's Will on the basis of a lack of adequate family provision, claiming that they have not been adequately provided for. Unfortunately many people, owing to the complexity of the law in this area, do not understand the rules concerning mounting a challenge to a Will on the basis of a 'lack of provision'.

When a person passes away, an individual or a number of individuals will be appointed in their Will to distribute their estate – these people are known as executors. From a practical point of view, only one or two people should be named as executors in a Will.

Many people believe that using a DIY Will kit will be cheaper and easier than seeking advice from a solicitor – however this is not always the case. In fact, using a DIY Will kit could end up costing far more than seeking legal assistance.