Estates Administration & Distribution
Wills & Estate Planning
Administration and distribution of an estate
Once a Grant of Probate has been given, the Executor or Administrator is responsible for collecting the deceased person’s assets and making payment of debts owed by the deceased. This may involve contacting financial institutions and other companies to find out what assets the deceased person owned. After debts are paid, the remaining assets are then distributed according to the terms of the Will. Assets may need to be sold so the proceeds can be divided between the beneficiaries. The Executor or Administrator will also need to publish a notice which gives any one with a claim against the estate one month to provide particulars of the claim. This is called a Notice of Intended Distribution.
At Burgess Thomson we understand that this can be a stressful and daunting process. We can assist by contacting financial institutions and companies on your behalf. We can also arrange for estate money to be held in a trust account on your behalf. We can also assist in using this trust account to pay any debts or fees of the estate. We can also assist in the sale of property owned by the deceased person.
Arrange a consultation with our specialist Wills & Estates Lawyers in Newcastle.
How are the assets distributed?
What is a Transmission Application?
Can I be paid for being an Executor?
What if there was no Grant of Probate or Letters of Administration?