Deceased Estate & Probate.

Deceased Estate & Probate.

When a person prepares his or her Will (whether that be a simple Will or a Testamentary Trust) careful consideration needs to be had for a suitable executor and trustee of that Will.

Deceased Estate & Probate.

Essentially the executor, interchangeably referred to as a “trustee”, is required to prosecute or carry out the wishes of the Testator as referred to in his or her last Will. This means that an executor has been charged with the  responsibility of managing the Testator’s estate according to the terms they’ve outlined in their Will and to protect the Testator’s assets insofar as possible under the various laws and rules that govern estate administration in NSW and Australia.

Executor Duties

An executor’s duties may include responsibilities such as:

  • Organising the funeral, notices for the paper, flowers

  • Locating the Will

  • Obtaining a copy of the Death Certificate

  • Making sure any property and assets are safe and secure

  • Determining the value of assets

  • Applying for Probate

  • Paying insurance policies, debts and taxes

  • Setting up trusts

  • Collecting monies belonging to the deceased from financial institutions and insurance companies

  • Collecting debts owed to the deceased

  • Lodging tax returns for the deceased and for the estate

  • Selling properties and assets

  • Reporting to beneficiaries

  • Distributing the proceeds of the estate to beneficiaries

Being an Executor can be overwhelming, particularly when you are grieving, but rest assured we can guide you through.

Contact us to find out more or to arrange an appointment.

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