Succession News June 2007

The new Succession Bill 2006 was passed on 26 September 2006. The anticipated commencement of the new Succession Act is September 2007.

The aim of introducing the law is to achieve a level of consistency in succession law in Australia. The next bill to be introduced for debate will deal with uniform family provision laws. This will be followed by one dealing with intestacy and the final bill will deal with estate administration. The time frame for when the other three bills will be introduced is over the next year.

The new Act changes introduces the following changes:

The Act repeals those provisions of the Wills, Probate and Administration Act 1898 relating to wills. It also renames the reaming provisions of the Act as the Probate and Administration Act 1898;
New rules will be introduced regarding the witnessing of wills by beneficiaries. [Clause 10(4)];
It provides a statutory guide for the Supreme Court to consider when authorising a minor to make a will. [Clause 16(4)];
New powers are conferred upon the Supreme Court to make orders authorising the making, alteration and revocation of wills for adults lacking testamentary capacity to do so [Clauses 18-26];
Provisions allowing admission of extrinsic evidence to aid in interpretation of wills [Clause 32]
New provisions about survivorship of testator by a beneficiary by 30 days [Clause 35]
Revision of the law relating to foreign wills – making NSW consistent with the law of other states [Clauses 47-50]
New provisions regarding entitlement of access to a will on the death of the testator

We will keep you advised of further developments as they arise.