Our estate lawyers understand that the loss of a loved one is one of the most difficult times in your life, and managing the affairs of a deceased loved one can be distressing to say the very least. It is also a responsibility not to be taken lightly as the executor could be held personally liable for any debts or claims made against the estate should you have not considered and held off on making a distribution before debts and claims were settled.
Matters that need to be considered when dealing with an estate administration:
- Am I the executor or who is the executor, and do I have to be the executor?
- Is there a Will and if there is; is it valid?
- What happens if there is no Will? How do we administer the estate?
- What are the assets and liabilities of the estate?
- Do I need to apply for probate? And what is probate?
- Who can make a claim against the estate and what if someone makes a claim?
- How do I deal with superannuation or an insurance policy?
- When can I make distributions to beneficiaries?
- How do I deal with shares and do I need to sell them?
- What if there is a Family Trust? What do I need to do with the trust?
- Does the estate need to lodge a tax return?
The list of questions can be exhaustive and the obligations on the executor to engage in the due administration of the estate is onerous. You need to know that you do not need to go it alone and worry about how to deal with assets. Engaging the assistance of an experienced team of Lawyers like Evolution Legal to assist you through the process of administering an estate can be an expense paid for from estate funds.
At Evolution Legal, we provide comprehensive estate administration services. We will assist the executor in administering the estate while ensuring he/she is not exposed to any risk of litigation by making distributions within the statutory limitation periods.
Through our local business network, we are able to draw on specialist tax advice to assist you through the complex taxation implications that may impact on the estate and the beneficiaries.
We can also assist you in contesting a Will by making a claim on the estate if you have been left out of a Will or have received an insufficient share of the estate. We can also assist Executors in resisting a claim on the Estate by a beneficiary.
For more information on how we can help you with estate administration needs, contact our estate lawyers so that we can share the burden in your difficult times.