Administration and probate of a deceased estate
At Argent Law, our Estate Lawyers are able to help you with all matters that may arise in relation to a deceased Estate as follows:
- Grants of Probate;
- Grant of Administration with Will annexed (person dies with a Will but Executor is already deceased or named Executor wishes to renounce);
- Grant of Administration of intestate estate (person dies with no Will);
- Executor’s Commission;
- Assistance with the distribution of the Estate including identification of the assets and liabilities of the deceased;
- Survivorship Application (transfer of property held as joint proprietors to the surviving proprietor);
- Application by Personal Legal Representation (transfer of property held by the deceased to the Executor/s as legal person representative); and
- Contesting an Estate.
What happens if you are the Executor of a Will?
If you are the Executor of a Will, you will be responsible for the administration and distribution of the deceased’s estate in accordance with the deceased’s Last Will and Testament.
It is a very confusing time for Executors as from 1 November 2017, there is new legislation that comes into force in Victoria that governs Estate’s when the deceased’s Last Will and Testament was prepared on or after 1 November 2017.
For all Estate’s, when the Last Will and Testament of the deceased was prepared before 1 November 2017, the older legislation applies to the distribution of the Estate.
This means that there is two different laws running concurrently and it is vital that the Executor obtains legal advice to assist them and ensure that the correct Act is being applied to the distribution of the Estate.
In addition to the Administration and Probate Act 1958 (Vic) and the Administration and Probate and Other Acts Amendment (Succession and Related Matters) Act 2017 there are numerous legal obligations imposed of the Executor, including but not limited to the following:
- Provision of the Last Will and Testament of the deceased to the named beneficiaries;
- Organisation of the deceased’s funeral;
- The real property of the deceased vests with the Executor which means you need to ensure it is insured, maintained and kept in the same condition;
- Make an oath to the Supreme Court as to the inventory and accounts of the deceased’s Estate;
- Distribution of the Estate in a timely manner (usually 12 months from the grant of Probate);
- Attend to payment of payment of the deceased’s debts and liabilities from the Estate;
- Attending to filing a tax return on behalf of the Estate and seeking advice as to the applicability of capital gains tax;
- In most cases the sale of the deceased’s assets which includes hiring a real estate agent and preparing the property/properties for sale; and
- In some cases investment of the deceased’s assets for infant beneficiaries.