South Australia is now one step closer to the laws regarding Wills and Deceased Estates undergoing the most substantial change in decades.
Late last year the Succession Act 2023 (SA) passed both houses of Parliament – but until yesterday there was no commencement date for the new Act.
We now know the new Act comes into effect on 1 January 2025.
For lawyers, the new Act makes some substantial changes to the landscape in this area – taking three old Acts (the Wills Act 1936, the Administration and Probate Act 1919 and the Inheritance (Family Provision) Act 1972) and combining them all into one.
For our clients, the new Act's implementation is an excellent opportunity to review your current estate planning documents, as it introduces changes that may require amendments in some cases.
What are those changes? Our Wills and Estates practitioners will be writing about those in the coming weeks – watch this space!
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.