NEW LAWS TO PROTECT VICTORIAN FAMILIES
The Andrews Labor Government today introduced legislation to better protect the rights of Victorian families after the death of a loved one.
The Administration and Probate and Other Acts Amendment (Succession and Related Matters) Bill 2016 will better protect the rights of partners of Victorians who die without a will.
It will also ensure families have legal options if they are charged with excessive fees or commission by an executor managing the estate.
When a person dies without a will, current laws can leave a partner with an inadequate share of the estate.
The Bill will ensure that the partner receives a greater share of the deceased’s estate to ensure they are provided for and can continue to support their families.
The changes will prevent estates from being unexpectedly depleted by fees or commission charged by an executor.
Executors will be required to give the beneficiaries an estimate of their costs, and the Supreme Court will have the power to review and reduce the fees or commission charged by an executor.
The Bill will require the separate written consent of a will-maker to any clause in the will which gives the executor the right to charge fees or commission.
If there is no clause in the will, then the consent of the beneficiaries, or the approval of the Supreme Court, will be needed.
Quotes attributable to Attorney-General Martin Pakula
“We’re protecting the rights of Victorian families by making sure they can’t be charged with excessive fees or commissions by an executor managing a deceased estate.”
“Losing a partner or family member is difficult enough. When a person passes away without a valid will, we’re making sure that the rights of loved ones are protected.”