Does your spouse automatically inherit your estate?

Does your spouse automatically inherit your estate?

Spouses will now automatically inherit the estate of their partners who die without leaving a will, after the NSW Parliament passed new legislation. State Attorney-General John Hatzistergos says that previously the estate would have been shared between the spouse and the children when someone died intestate.

Can a mortgage stay in a deceased person’s name?

Any home loans in the name of the deceased person will be considered in the finalisation of the Estate. If the loan is joint the survivor can lodge a survivorship application to have the title changed into their name only.

Can you get insurance to pay off your house if you die?

As the name implies, mortgage life insurance is a policy that pays off the balance of your mortgage should you die. It often is sold through banks and mortgage lenders. The payout goes to the mortgage lender, not your family. The payout matches your mortgage balance, so the amount decreases over time.