What Is The Inheritance Act And Who Does It Benefit?

In Australia, each state has its own Inheritance Act, which has been designed to ensure that the family of a deceased person receives adequate provision out of his or her estate. Basically, it benefits the family of a person who has passed away, as the Act allows them to contest the contents of a will if they believe that their inheritance is not fair.

 The Inheritance Act outlines the way that the court will decide who receives what from a deceased person’s estate (including money, property and other assets), as well as how the court may choose for the recipients of an estate to receive their inheritance (in a lump sum or through periodic payments). The Act also outlines that any applications for a deceased person’s estate must be made within 6 months of the will being read to be considered valid.

According to the Inheritance Act, there are a number of people who are entitled to a portion of a person’s estate after their passing, including: their children, their parents, their spouse, their domestic partner (they lived with the deceased but were not legally married), their ex-spouse, their spouse or domestic partner’s children, their grandchildren, and their siblings.

Whilst a deceased person may leave any of their possessions or assets to any person of their choosing (including friends, pets and charities), only the people outlined in the Act (and listed above) are seen as having any sort of claim on the inheritance and, therefore, are able to legally contest the will’s contents.