What is notional estate? Put simply in NSW its anything you may have owned in the three years prior to your death.
Megerditchian v Khatchadourian  NSWSC 1870
The case concerned a family provision application on behalf of the plaintiff, the daughter, out of the estate of her late father. The major asset of the deceased’s estate was the family home, which was held by the deceased and his son as joint tenants, after the death of the deceased’s wife. The property then passed to the son, and the remaining estate of the deceased consisted only of approximately $5000. The deceased’s will set out that the daughter was to be paid $10 000, and the rest of the estate to the son. The daughter sought an order designating a half share of the major asset as notional estate under the Succession Act 2006 (NSW). The court considered the value of the asset at the time of the will which was to be awarded to the son, in proportion to the legacy of $10 000 for the plaintiff. The Court adjusted this accordingly and awarded the plaintiff a legacy of $100 000 by designating the half share in the major asset as notional estate.