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NSW Deceased Estate - Distributing 12 Months After Death?

Discussion in 'Wills and Estate Planning Law Forum' started by Steve500, 13 April 2015.

  1. Steve500

    Steve500 Well-Known Member

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    I'd imagine once probate has been granted, and the estate distributed and agreed on. Once the 12-months is expired(death of deceased), the Assets/money is distrubuted is that correct?
    Can Assets/money in a deceased estate be distributed in NSW before 12 months of death, or do all distributions have to be on hold/wait 12 months, incase anyone else wants to make a Family Provision claim on the Estate e.g (unfairly left out of will)?

    To add to this, I read assets are frozen for 1 month and ad is put in newspaper of death, and anyone who wants to come forward. Then it seems assets can be distributed within the 12 -months, 1 month after if no one comes forward. People can still make a claim in NSW within 12 months, but it seems a concern if assets/money can be distributed within 1-month of the death if no one comes forward. Or maybe asset distribution 1-month after Probate I don't know.
     
  2. Sophea

    Sophea Well-Known Member

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    Hi Steve, yes if you are the legal representative of the estate, and not receiving a benefit from it, you should not distribute the estate, until at least 12 months after the date of death. If you do distribute it within 12 months of death, you risk personal liability if a successful Family provision application is made.

    However, as you are aware s93 of the Succession Act provides a means of distributing the estate 6 months after death, and receiving protection from liability - by advertising with 30 days notice.

    Here's a link to the section
    http://www.austlii.edu.au/au/legis/nsw/consol_act/sa2006138/s93.html
     
  3. Steve500

    Steve500 Well-Known Member

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    Thanks Sophia that's some really good tips.
     

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