In Queensland, you may receive an inheritance from a deceased estate through one of three primary avenues: by being a named beneficiary in a will, successfully challenging the terms of a will, or, in the absence of a valid will, qualifying for inheritance under the state’s intestacy laws.
This article delves into these three key pathways, providing comprehensive answers to the question: “How does one secure an inheritance in Queensland?”
1. How To Get An Inheritance From A Will In QLD
When a will is deemed valid, its named beneficiaries can generally anticipate inheriting assets, whether financial or property-based, as stipulated in the document.
However, this expectation may change if the will is successfully contested and a court mandates a redistribution of the estate, potentially impacting the original bequests.
The actual method of receiving an inheritance can vary based on the type of asset in question and the preferences of the executor.
For instance, if the executor is also the primary beneficiary, they may opt for a straightforward bank transfer to distribute assets.
On the other hand, when a solicitor manages the estate, disbursements are commonly executed from a trust account, often in the form of a trust account cheque.
How Long Does It Take To Get An Inheritance?
Many people operate under the assumption that beneficiaries will receive their inheritance shortly after a testator’s passing.
In reality, beneficiaries in Queensland often have to wait a minimum of six months to receive their inheritance.
This waiting period allows creditors and potential claimants sufficient time to file claims against the estate.
Typically, an executor may take up to a year—or possibly longer—to finalize the deceased’s affairs, thereby extending the time before a beneficiary receives their inheritance.
To incentivize timely administration, the law imposes an annual interest rate of 8% (or a court-determined rate) on inheritances that remain unsettled after the first year. However, the process may extend beyond 12 months, particularly if the estate is embroiled in ongoing litigation.
In such instances, executors may be held personally liable for prematurely distributing assets that a court later allocates to a creditor or a Family Provision Claimant.
2. Making A Family Provision Claim
Even if you are not a named beneficiary in a will, there is a legal pathway to pursue an inheritance. An eligible individual who believes they are entitled to a more substantial provision from a deceased estate than what is stipulated in the will can initiate a Family Provision Claim through the Supreme Court of Queensland.
The Succession Act 1981 defines the criteria for eligibility to make such a claim against a deceased estate. Specifically, in Queensland, a spouse (including de facto partner), child, and any dependents of the deceased have the legal standing to challenge the will for a more appropriate inheritance.
How To Get An Inheritance Through A Family Provision Application
The initial step for any claimant interested in filing a Family Provision Claim is to consult with the executor of the estate to gauge the validity of their claim. Legal assistance from a solicitor can be invaluable during this phase, helping the claimant to negotiate terms with the executor and potentially avert a lengthy legal battle.
Should an agreement with the executor prove elusive, the claimant has the option to move forward with court proceedings to request a reevaluation and potential redistribution of the estate. Courts examine Family Provision Claims on an individual basis, taking into account factors such as the deceased’s obligations toward the claimant and the claimant’s own financial requirements.
Contact our experienced Inheritance Lawyers about getting an inheritance in Queensland today to discuss how we can assist you.
3. Who inherits if no will in Queensland?
In Queensland, the Succession Act 1981 specifies how the property of someone who dies without a will is to be distributed to their nearest relatives.
Accordingly, a spouse is entitled to inherit the entire estate, unless there are children from the deceased.
In such scenarios, the spouse is allocated the initial $150,000, all household items, and one-third of any remaining assets from the estate.
In this case, the order for who can be appointed administrator will depend on who survived the deceased. Is it a spouse, child, parent, grandparent or none of the above?
Read more about what happens if someone dies without a will in Queensland to get up to speed with the law in this area.
Summing up
Access to justice is the cornerstone of our practice. That’s why we offer no win, no fee terms if we believe you have been inadequately provided for in a will.
Contact the best Estate Lawyers in Brisbane for a free case assessment and consultation. Call us on 07 3073 2405 or using the contact forms.
Office Location and Contact Details
Brisbane (by appointment only)
Will and Estate Lawyers Australia
Level 1 / 16 McDougall St
Milton QLD 4064
Phone: 07 3073 2405
Email: enquiry@willandestatelawyers.com.au
