Wills and Estates - update
Royal Assent was granted last night to the Administration and Probate and Other Acts Amendment (Succession and Related Matters) Act 2017, which comes into force on 1 November 2017.
The Act substantially overhauls major aspects of the Administration and Probate Act 1958. The key changes are:
- Complex provisions as to how estates will be distributed on intestacy for spouses, partners, former spouses, former partners, multiple partners, and their children
- Changes to Ademption where an attorney sells property devised by Will
- The Court’s ability to review and regulate payment of executor’s commission and other costs and fees paid by an executor out of the estate.
The changes will impact the way in which intestate estates are administered and will have an impact on the drafting of any will where an executor’s commission is contemplated.
Greens List barristers Eleanor Coates and Teri Konstantinou will be presenting on these changes at a CPD Breakfast Briefing on Thursday 19 October 2017 - Event details to follow shortly.