Administration and Distribution of an Estate
Wills & Estate Planning
Expert Deceased Estate Services in Newcastle
When the time comes to manage the administration and distribution of a deceased estate, the legal and emotional responsibilities can be overwhelming. Burgess Thomson, based in Newcastle, provides comprehensive services to ease this burden during a difficult time. Our expertise in deceased estate administration ensures that every legal detail is handled with care and respect.
We can assist by contacting financial institutions and companies on your behalf, and arranging for estate money to be held in a trust account on your behalf. We can then help you use this trust account to pay any debts or fees of the estate. We can even assist in the sale of property.
How Burgess Thomson Can Help
Navigating the Process with Compassion and Precision
Following the granting of Probate, the responsibilities that fall to the Executor or Administrator are numerous and significant. Our role is to streamline this process, guiding you through each step with sensitivity and attention to detail.
Asset Collection and Debt Settlement
We undertake the duty of contacting financial institutions and other entities to accurately assess and collect the deceased’s assets. Our expertise includes managing debt settlements, ensuring that all liabilities are addressed before the distribution of the estate.
Trust Account Management
Burgess Thomson offers the facility of holding estate funds in a trust account. This account is not only a secure place for the funds but is also used to manage the payment of any debts, fees, or administrative expenses associated with the estate.
Sale of Assets
Should the need arise to liquidate any assets for distribution, we have the experience to handle the sale process efficiently and lucratively, always aiming to maximise the estate’s value for the beneficiaries.
Legal Notices and Claims
We assist in the publication of a Notice of Intended Distribution, giving potential claimants the opportunity to come forward, thus protecting the estate from future disputes.
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LEARN MORE
Arrange a consultation with our specialist Wills & Estates Lawyers in Newcastle.
Why Choose Burgess Thomson?
There are plenty of reasons to choose our team of experts, including:
- Expertise in Estate Administration: Burgess Thomson’s team of legal professionals has a wealth of knowledge in estate administration. We ensure that the executor’s responsibilities are fulfilled in accordance with the highest legal standards.
- Dedicated Personal Service: Our commitment to personal service means we are with you at every step, offering clear explanations and support. We take on the complex tasks, allowing you to focus on family and personal matters during this time.
- Protecting Your Interests: The security of the estate’s assets is our priority. We use our legal expertise to protect the estate from undue claims and ensure the executor is safeguarded from personal liability.
- Maximising Estate Value: With strategic management and a meticulous approach to asset handling, we work to ensure that the estate’s value is maximised for the benefit of all beneficiaries.
- Stress-Free Administration: We understand the stress that can accompany the distribution of a deceased estate. Our aim is to remove the burden from your shoulders, handling all aspects of the process with professionalism and empathy.
Entrust Your Estate Administration & Distribution to Us
Allow Burgess Thomson to guide you through the complexities of deceased estate administration and distribution with expertise and compassionate service.
Contact us or request a quote to experience the compassionate efficiency that sets Burgess Thomson apart as leaders in estate administration and distribution.
FAQ's
An Executor or Administrator must prepare a statement of account and a distribution report which shows what the assets were, how much money resulted from any sale of assets and the expenses and debts paid from the proceeds. These must be given to the beneficiaries when they receive their share of the estate. A gift of money must be distributed to beneficiary within 12 months otherwise the beneficiary can claim interest.
A Transmission Application is an application for the transfer of title to land owned by a deceased person into the name of an Executor or Administrator or a beneficiary. An Executor will need to lodge a Transmission Application to have the property transferred into his or her name in order to sell the property. A beneficiary will need to lodge a Transmission Application if the deceased person has left the property to the beneficiary in the Will.
An Executor or Administrator is entitled to claim commission from the estate for their time and effort in administrating and distributing the estate. An Executor or Administrator may reach an agreement with the beneficiaries or apply to the Supreme Court for commission to be paid out of the estate. An Executor cannot claim commission if they are also named as a beneficiary in the Will unless the Will provides that the Executor may claim commission in addition to their share as a beneficiary.
If a Grant of Probate of Letters of Administration were not required in your circumstances, then you will be able to distribute the estate after the debts have been paid. This must be done in accordance with the Will or if there was no Will, in accordance with the rules of intestacy.
