If you die without having made a Will in Western Australia, your assets are distributed according to the Administration Act 1903 (WA).
However, the last time the Act was amended was in the 1980’s, when the median price of a house was $50,000.
There is a Bill currently before the WA Parliament to update it in a number of respects. In particular, the amounts in the table (see below) showing:
- $472,000 are currently only $50,000;
- $705,000 are currently only $75,000; and
- $56,500 are currently only $6,000.
The amendments will also include a mechanism for keeping the amounts more current, via Ministerial declarations every 2 years.