An executor has many duties and much responsibility. My service to executors includes carrying out all the work necessary to administer the estate of someone who has died, on behalf of the executor and to such extent as the executor chooses.
These duties include:
- Identifying, confirming and securing all the assets;
- determining if a Grant of Probate or Administrator is needed;
- Preparing the documents to apply for Probate
- Advertising Notices of Intention and to Creditors
- Collecting assets;
- Paying debts and expenses;
- Arranging tax returns;
- Providing administration accounts.
- Distributing the estate;
I can tailor my service to specific aspects of the total administration if that is what the executor or administrator prefers.
I can provide advice, referring you where necessary or appropriate to contacts licenced or qualified (as required) in finacial planning, accounting, propoerty management or other specialist areas, regarding:
- what options there are to deal with superannuation entitlements;
- Whether particular assets should be transferred or sold
- Whether it is it better for particular assets to be allocated to certain beneficiaries and preparing a scheme to allocate assets at the same time as preserving the proportions beneficiaries are entitled to receive;
- Whether certain types of entitlements should be certain types of entitlements be surrendered or paid out and how will the estate be shared if this happens.
There may be tax and Centrelink or other pension implications involved and I source financial planning and tax accounting advice to help with the proper and full consideration of all the issues.
If you would like us to assist you, please contact us to arrange a consultation with Phillip Laing.
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