Probate and Deceased Estate Administration
A deceased estate refers to the assets and property of a person who has died and can include real estate, personal property, cash, shares, as well as other assets.
A person named as an executor of a Will has the responsibility to administer a deceased person’s estate in accordance with the terms of the Will. DDCS Lawyers can assist executors with all of the legal and practical aspects involved with the administration of a deceased estate. The steps involved in dealing with an estate usually include:
- Identifying and securing the deceased’s assets;
- Applying for a Grant of Probate or Grant of Letters of Administration;
- Managing and administering the deceased’s assets (eg. Closing the deceased’s bank accounts, transferring shares and/or properties owned by the deceased to the intended beneficiary);
- Ensuing all debts and liabilities are paid and tax matters finalized;
- Administering any trusts established under the Will;
- Distributing estate assets to beneficiaries in accordance with the Will (or if there is no will, in accordance with the applicable intestacy laws).