About 50 per cent of Australians don’t have a will when they pass away, according to ASIC.
In the case of no will, an administrator is appointed by the court and they use the deceased’s assets to pay any outstanding taxes and bills. They then distribute any remaining money based on a set formula, which may differ from the deceased’s wishes. If the person doesn’t have any living relatives, the cash is given to the state or territory government.
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