Being appointed as an executor of a loved one’s estate is a significant responsibility, especially during the emotionally difficult time following their death. Executors play a vital role in ensuring the deceased’s wishes are carried out and that the estate is managed correctly. Here’s a guide to help you navigate the first few weeks after someone’s passing.

Locate the Will and Understand Your Role

The first step is to locate the deceased’s original will, as it will outline your responsibilities and provide instructions on funeral arrangements and estate distribution. Make sure the will remains in its original condition, and if you are unsure of any aspects, consider seeking legal advice early on.

Make Immediate Arrangements

• Organise the Funeral: If funeral arrangements aren’t specified in the will or letter of wishes, coordinate with family members to plan the service. The costs are typically covered by the estate.
• Arrange Care for Dependants and Pets: Ensure any dependants or pets are cared for and that their immediate needs are met.
• Secure the Deceased’s Property: Make sure that the deceased’s home and belongings are safe and that insurance is up-to-date.

Register the Death and Obtain the Death Certificate

A death certificate is essential for managing the estate, closing accounts, and dealing with government agencies. Register the death with the relevant authorities as soon as possible.

Notify Relevant People and Organisations

It is crucial to notify family, friends, and institutions about the death. This includes government agencies like the Australian Tax Office, Medicare, banks, insurance companies, and utility providers. Using services like the Australian Death Notification Service can simplify this process by allowing you to inform multiple organisations at once.

Gather Information About the Deceased’s Assets and Debts

As executor, you need to identify all assets and liabilities associated with the estate. This may include bank accounts, real estate, investments, debts, superannuation, and life insurance policies. Gather documentation for all these items.

Determine if Probate is Required

Probate is a legal process where the Supreme Court of Queensland recognises the executor’s right to administer the estate. Probate may be necessary if the deceased had significant assets, such as property or large bank balances. Applying for probate also provides protection from liability if there are disputes over the will.

Seek Professional Advice

Handling an estate can be complex, especially when it involves legal, tax, or financial issues. Consulting professionals, such as lawyers and accountants, can help you navigate the process and avoid potential pitfalls. Their fees can usually be paid from the estate.

Establish an Estate Bank Account

To manage estate funds separately, consider setting up an estate bank account. This account is used to collect funds, pay debts, and distribute inheritances.

Communicate with Beneficiaries

Keep beneficiaries informed about the progress of the estate administration. Open communication can help prevent misunderstandings and manage expectations regarding timelines and distributions.

Be Aware of Timeframes for Claims Against the Estate

In Queensland, eligible people can make claims against the estate. It is important that executors don’t distribute the estate within certain timeframes to prevent personal liability for any claims that may arise. Legal advice should be obtained in this regard.

At Nurture Law, we understand that managing an estate can be overwhelming. Our experienced team is here to guide you through every step, offering fixed-fee services, clear communication, and compassionate support to make this challenging time a little easier.

For more information, contact us at hello@nurturelaw.com.au or visit www.nurturelaw.com.au