Estate Administration
Administration of estates after a grant, including calling in assets, payment of liabilities, accounting to beneficiaries and distribution.
Managing an Estate From Start to Finish
Once a grant is in hand the practical work begins: collecting assets from banks and share registries, dealing with real estate, paying creditors and the Australian Taxation Office, and distributing to beneficiaries. Executors are personally liable for getting the process right, so the administration needs to be done in the proper order and with a clear record. We support executors through that work and take on as much or as little of it as the executor wants.
The Executor's or Administrator's Responsibilities
Whoever holds the grant is personally responsible for collecting the estate's assets, paying its debts and taxes, and distributing what remains to the correct people in the correct shares, keeping proper records throughout.
Identifying Estate Assets and Liabilities
A clear picture of what the deceased owned and owed is the starting point, covering bank accounts, property, shares, superannuation, personal effects and any outstanding debts or guarantees.
How we manage the administration
Applying for the Grant and Collecting Assets
Depending on whether there is a valid will and an available executor, the estate may need a grant of probate or letters of administration before real property, bank accounts, shares and managed funds can be transferred or closed out.
Paying Debts and Tax
Creditors, including funeral expenses, must be paid before distribution, along with any outstanding income tax and the estate's own tax obligations, usually finalised with the estate's accountant.
Responding to Claims Against the Estate
An executor or administrator may need to respond to a family provision claim, a creditor claim, or a dispute over the will's validity. Distribution within 6 months of death carries a risk of personal liability if a family provision claim follows.
Distribution and Final Accounts
Once debts, tax and any claims are dealt with, the estate is distributed in accordance with the will or the intestacy rules, with proper releases obtained and a clear statement of assets, liabilities and distributions prepared for beneficiaries.
How Shah & Co Lawyers can assist
We support executors and administrators through every stage of collecting, paying and distributing the estate.
Collection of Assets
Collection of bank, share and superannuation assets.
Real Property
Sale or transfer of real property held by the estate.
Payment of Creditors
Payment of creditors, including funeral expenses and final tax.
Tax Returns
Lodgement of final and estate tax returns with the accountant.
Distribution to Beneficiaries
Distribution to beneficiaries with proper releases.
Claims Against the Estate
Advice on family provision claims and other disputes affecting distribution.
Timing considerations
- A straightforward estate is usually administered within 6 to 12 months.
- The executor's year is a common law guide suggesting beneficiaries should not expect distribution before 12 months from death.
- Distribution within 6 months of death risks personal liability if a family provision claim is made.
- An insolvent estate is administered in a defined order of priority for creditors.
Frequently asked questions
General information only. Every matter turns on its own facts.
Other wills & estates services
Wills
Preparation of wills, including simple wills, mutual wills and wills involving testamentary trusts.
Learn moreEstate Planning
Estate plans that take account of family circumstances, blended families, business interests, self-managed super funds and tax considerations.
Learn morePowers of Attorney
General and enduring powers of attorney under the Powers of Attorney Act 2003 (NSW).
Learn moreEnduring Guardianship
Appointments of enduring guardian under the Guardianship Act 1987 (NSW) for personal, lifestyle and medical decisions.
Learn moreProbate
Applications for probate of a will in the Supreme Court of New South Wales, including informal wills and contested matters.
Learn moreLetters of Administration
Applications for letters of administration where the deceased died without a will or where the executor is unable to act.
Learn moreSpeak with us about administering an estate.
Arrange a confidential consultation. Discreet, professional and tailored to your circumstances.