What is the Size of the Estate? Why Does this matter?

Essentially, the size of the Estate is how many assets (less liabilities) there are in the Estate. The size of the Estate will determine how many assets there are to divide and how much there is to go around. In a small Estate, it may be that only the spouse left behind can be catered for. In a larger Estate, and depending on all the circumstances, more beneficiaries may take a share in the Estate.

To put it in more legal terms the “jurisdictional stage” requires consideration of matters such as:

“… the applicant’s financial position, the size and nature of the deceased’s estate, the totality of the relationship between the applicant and the deceased and the circumstances and needs of other beneficiaries or potential beneficiaries.”

Lodin v Lodin NSWCA [2017] citing previous caselaw.