What If There Is No Will?
Court Ordered Administration Of An Estate.
It is a common misconception that if you die without a valid will, the government gets your money. It doesn’t, but it does distribute your property according to a specific formula established under the Administration And Probate Act – a formula that dictates who receives what, and may bear little or no resemblance to your true wishes. In many cases, property must be sold, to the potential disadvantage of the estate and beneficiaries, in order to meet the formula’s requirements.Without a valid will naming an executor, a family member must apply to the court for Letters of Administration, authorising them to collect and distribute your assets according to the State’s formula. If there is no family member willing or able to act as beneficiary, the court may appoint a trustee, who acts for a fee. Both situations involve time, stress and expense, which could have been avoided with a valid will.
Don’t leave things to chance. We’ll guide you through the process from start to finish.