The Administration Act WA (1903) sets out most of the rules that administrators must abide by in handling a deceased estate. If you are not familiar with the ‘ins and outs’ of the Administration Act, here are five important points you should know:
Where a person dies without leaving a valid Will, section 14 of Administration Act contains a fixed formula under which the deceased’s family members are entitled to share in the assets of the estate depending on the size of the estate and types of family members left behind.
The Administration Act also sets out the person who are entitled to manage the estate, known as the administrator.
The Administration Act provides specific protection for underage beneficiaries of an intestate estate.
Persons granted administration of an estate have a duty under the Administration Act to file an inventory of the estate of the deceased and formally pass the accounts of the estate at the Supreme Court of Western Australia.
If the deceased person left a Will which does not appoint an executor, or the executor has died or cannot be found, then the Administration Act allows for a beneficiary of the Will or another party “interested in the estate” to apply for Letters of Administration with the Will Annexed and become an administrator of the estate.
The Administration Act contains many rules and requirements that are complex to understand and interpret. If you are or you think that you should be the administrator of a deceased estate then you should seek legal advice on how to get started.