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New Laws to Protect the Estates of Missing People
The Attorney General, Bob Debus, today announced new laws to help families look after the financial affairs of missing persons.
Mr Debus said amendments to the Protected Estates Act 1983 will mean the Supreme Court will be able to appoint a family member or other qualified person to manage an estate after 90 days instead of having to go through the current difficult and lengthy process where death must be presumed.
“Families and friends of missing people have an extraordinarily difficult and painful time wondering what has happened to their loved ones. This is why the NSW Government set-up the Missing Persons Unit and funds counselling services for families and friends of missing persons.
“This legislation is the first of its kind for Australia and exists only in two other jurisdictions in the world – Guam and Canada.
“Our wide consultation with families and friends found that there was a great need for new laws. Currently a missing persons estate can be left in limbo for as long as 7 years. There is no formal mechanism outside of obtaining probate for the management of everyday issues involving matters such as insurance, property or bank accounts.
“The new laws mean that families and friends can now apply to the Supreme Court to have estates of missing persons managed after they have been missing for 90 days.
“It is a simple and commonsense arrangement designed to relieve stress on already traumatised families.
“The procedure means the Supreme Court can, if it is satisfied that it is in the interests of the missing person and reasonable efforts have been made to locate that person, appoint a family manager to manage the missing person’s estate.
“If the Court deems that a family member is not appropriate, it can appoint other qualified people or the Protective Commissioner to manage the estate in the best interests of the missing person.
“The Court will also have the power to suspend an existing power of attorney, revoke or vary estate management orders if it is in the interests of the missing person.”
Attorney General News Release
Wednesday, 22 September 2004
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