For the Client
Have you been appointed as executor under a Will? Do you know what your responsibilities entail? Did you know that it is the executor's duty to dispose of the Will maker's remains?
If the executor makes the wrong decision in the administration of the estate which results in a loss to the estate or a beneficiary, the executor could be held personally liable. The estate or a beneficiary could be burdened with state duties or tax that could otherwise be avoided.
A Grant of Probate is a document issued by the Supreme Court declaring that the Will produced is the last Will of the Will maker and confirming that the executor named is the rightful person to deal with the deceased's assets.
A Grant of representation is frequently required by an institution with whom the deceased held assets, to ensure they are releasing assets to the authorised person.
Where a person dies without a Will they have died 'Intestate' and their assets will be distributed in accordance with Queensland Succession law.
An application for Letters of Administration may need be made to the Supreme Court for a Grant of representation by the person with the highest right (usually the spouse).
The Grant has the same effect as a Grant of Probate when dealing with institutions.
Administration of estates for executors
We guide you and assist you to make right decision and then we implement the correct paperwork to including collection of assets (including payment of superannuation member benefits of self managed superannuation fund) and payment of debts including all taxation liability – income tax, capital gains tax, appropriate assets between beneficiaries to minimise capital gains tax and government duties beneficiaries.
If you need assistance or clarification in any of these areas please contact Louise Atherton on T (07) 3720 9777 F (07) 3871 1126 or M 0410 061 579.
For The Lawyers
We will assist you progress your administration files saving the estate unnecessary costs and increasing file velocity.
Do your estate files inhibit your concentration on your primary practice income?
Do you have:
Estate files in the 'too hard basket'?
Complex or unusual applications for probate or letters of administration; or
Complex court probate requisitions?
Estate administration procedural or trust issues?
We provide Advice on all aspects of administration of a Will or intestacy.
If you need assistance or clarification in any of these areas please contact Louise Atherton on T (07) 3720 9777 F (07) 3871 1126 or M 0410 061 579 or Alex Hams on M 0431 522 778.