We understand that the passing of a loved one is an already difficult time. There are a number of ways we can assist and support you to ensure their estate passes to the next person properly and legally. We can help you understand and navigate these steps and your legal obligations by simply being there to provide general advice, or managing the entire administration process for you. We can also assist if you have been nominated as executor and need help performing this role.
Estate Administration
We can help with :
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An executor (or trustee) is the person responsible for administering the estate as per the Will or the laws of intestacy. Sounds simple… and in theory it is however in practice it can be very challenging and confusing. If you have been named as an executor in a will - we can help!
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The beneficiary is the person (or organisation in the case of charity donations) that will receive parts (or all) of the deceased person’s estate (i.e. what they owned). We can help ensure the estate is being administrated correctly and ensure you receive what you are entitled to under the Will or the laws of intestacy if the person died without a will.
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Probate is a document issued by the Supreme Court which verifies a person’s authority to act on behalf of the estate. Whether and when you need it varies with each bank or organisation. We can help determine if it is needed, which one is needed and when it should be obtained.
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When someone dies, there are many organisations and third parties that will need to be contacted and liaised with. It can often times be very daunting to not only know who to contact, but also to actually contact them.
Things to keep in mind
Administering an Estate is a very important job to be trusted with. In fact, an Executor can be held personally liable if it is not done correctly. It is therefore very important that you administer the Estate in such a way that ensures that you comply with your legal obligations.
If you are finding the role of Executor too daunting or overwhelming, we can help either doing everything that is needed to be done, or just help you along the way with you to do most things yourself. Our involvement is up to you and what you need to make sure this process is as easy as it can be for you and your family
What does an Executor do?
An Executor is the person who manages and distributes an Estate and do such things as find and notify the beneficiaries (people who will benefit from the Estate i.e. receive something), obtain Probate if needed, check and protect the assets as well as determine and pay the debts, prepares the tax returns, collect any insurance payments, talk to superannuation funds, sell or transfer assets and then distributes the Estate.