Small Estates
There are four main changes to the Administration and Probate Act affecting deaths on or after 1 January 2015:
# s71(1A): small estates are now defined as estates where the property does not exceed $100,000, indexed to CPI (up from the previous 2 tiers: $25K and $50K).
# s71(1): the executor/administrator of a ‘small estate’ may obtain assistance from the Registrar of Probates in making an application for a grant.
# s31(A): if an estate is less than $25,000 assets may be transferred without a grant. Acting in good faith is now a complete discharge of all liability.
In general, the changes aim to make the administration of small estates easier for laypersons.