How is an intestate estate dealt with?
Looking after intestate matters can be complicated. Firstly a suitable administrator must be appointed by the Supreme Court of NSW. This may not be the person who you would have chosen if a Will was made. The administrator’s duties involve arranging the funeral, collecting assets, and distributing them after paying any debts and taxes. The administrator must establish the family tree using certificate evidence which may be an expensive and time-consuming task depending on who are the next of kin or if they live overseas. Additional problems may arise where the child is a minor or incapable person as your next of kin. Here the Court may require the administrator to obtain an administration bond. An administration bond is a guarantee by a third party, often an insurance company, to make good any loss should the appointed administrator fail to properly administer the estate. The bond is usually equal to the value of the estate being administered. The law exempts the NSW Trustee and Guardi
