Late DJ’s parents inherit multimillion-dollar fortune
Published 08 Mar 2019
The parents of late DJ Avicii will inherit his multimillion-dollar fortune after he died without a Will.
Tim Bergling – known commonly under his stage name Avicii – was found dead in April 2018 after apparently committing suicide. Considered by many as the pioneer of modern electronic dance music, the discography of Avicii dominated both mainstream and club radio, inspiring many musicians to turn their hand to the DJ craft. As a result of his worldwide success, Avicii had amassed a fortune of around US$25 million.
Due to not having a Will, the 28-year-old had died intestate without any children or a spouse. After any tax debts are settled, Swedish law dictates that the entirety of his fortune will go to his parents.
What happens if I die without a Will?
Passing away without a Will in Australia is known as passing away intestate. In accordance to the Succession Act 2006 (NSW), there is a hierarchy of inheritance where your assets are divided amongst surviving immediate family members. The order generally is as follows:
- Children and grandchildren.
- Extended family members, such as aunts, uncles and cousins.
These family members need to survive the deceased for more than 30 days before they can legally make a claim for their share of the estate. If you die leaving a spouse but no children, they will inherit the entirety of your estate.
Can I dispute an intestate division of assets?
When intestacy is considered, assets are divided in accordance to a pre-determined formula. However, if you believe you have a valid claim to the estate, you may be able to contest the division of assets under a Family Provisions Claim. This caters for not only spouses and children of the deceased, but those who had lived with the deceased or were financially dependent on them for a period of time.
In order to prove dependency, the Court will need to investigate the relationship between the claimant and the deceased and the extent of the dependency. This may mean reviewing bank statements for regular transfers of money for clothing or food, or payments made to support the betterment of the claimant’s life, such as funding tertiary education. Sporadic gifts or support may not qualify as evidence of dependency, so it’s important that you consult with legal experts.
If you’re considering contesting a Will, it’s important to seek expert guidance. Get in touch with the team at Gerard Malouf & Partners Will Disputes Lawyers for a 90-day complimentary trial of legal services.