The administration of an estate refers to the process of managing and distributing a deceased estate. A deceased estate consists of property owned by the deceased along with any liabilities and debt held at the time of death.
The estate is administered by the executor appointed under the will of the deceased. If the deceased did not leave a valid will, an application to the Court will need to be made for the appointment of an executor.
Some of the key steps to be taken by an executor during the course of administering an estate include:
- Applying to the Supreme Court for probate. Probate is a declaration that the will is valid and that the nominated executor can administer the estate;
- Determining the property that forms a part of the deceased estate. What property/ assets are held in the deceased’s name?
- Paying all expenses and debts including funeral expenses, administration costs, tax liabilities and other debts (eg credit card debts);
- Locating the beneficiaries under the will and distributing the balance of the estate in accordance with the deceased’s testamentary intentions.
If you have been appointed an executor and need assistance with the administration of an estate, you may wish to contact our firm and arrange an appointment to see one of our Aged Care & Elder Law Solicitors. Please call us on (02) 9233 4048 or send an email to info@navado.com.au.
This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
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