As a speciality law firm, Qld Estate Lawyers can offer expert advice on estate administration
Estate administration can be a complex area of the law. Whether you’re trying to manage the will of a deceased loved one or you want to prepare for the future, retaining an experienced lawyer can minimise the stress involved with matters relating to wills and estates. Our estate lawyers in Brisbane specialise in the following areas of legal practice:
Professional Estate Planning & Administration
If you need assistance with mapping out the future of your estate, we can help you get your affairs in order. Regardless of how many assets you currently own, careful estate planning is essential to safeguarding you and your family’s financial security. Regardless of your estate’s complexity, our estate lawyers have the knowledge and experience to efficiently manage its administration.
We can take your individual wishes into consideration and guide you through every step involved with the estate planning process. You can rely on us and have peace of mind knowing your estate is in safe hands.
Making a Will
Drawing up a will is a relatively simple process. Even if you’re not expecting to need a will anytime soon, having one in place will ensure your assets are managed in an appropriate manner should the unthinkable happen.
A will lets you control how your estate will be divided after you pass away. In the absence of a valid will, your family and friends may have to decide what to do with your assets, a process that can involve complex legal processes and significant stress.
Making a will is the best way to spare your loved ones from having to guess how you would have wanted to distribute your wealth. Qld Estate Lawyers can help you create a legally valid will so your beneficiaries are able to access their inheritance as quickly as possible.
Probate of Will
A deceased person’s will may need legal recognition by the Supreme Court before their assets can be redistributed. This process is referred to as probate of will. In Australia, most banks and financial institutions will not release the contents of a deceased person’s bank account if the value is over a certain amount until probate has been obtained.
The executor of the will is usually responsible for managing probate proceedings. Understanding how probate works is an essential part of estate planning. If you require a court order to validate a will, our estate lawyers can assist you with all aspects of probate law.
There are some circumstances in which probate won’t be required. These include:
- If the deceased person’s estate is relatively small
- The beneficiary of real estate is identified in the will
- Assets are jointly held.
Our estate lawyers can determine whether you need probate of will.
Letters of Administration
If a person passes away without a valid will, their next of kin will typically take responsibility for their assets. However, a letter of administration will need to be obtained before any assets can be released. The court will only grant a letter of administration if they are satisfied the applicant meets all the necessary requirements.
If you need a letter of administration, Qld Estate Lawyers can assist you with the application process so you don’t have to navigate the legal system alone. Proving that you’re entitled to estate administration isn’t always a straightforward process, and you may need to provide several documents in support of your claim. Working with a lawyer can help simplify this process.
Executor of EstateBeing named executor of an estate means that you have been appointed to administer a deceased person’s assets. The primary accountabilities of this role include:
- Organising the deceased person’s funeral
- Locating their will
- Taking steps to ascertain the deceased person’s assets
- Obtaining a probate of will
- Identifying beneficiaries.
Our estate lawyers can help you manage the legal responsibilities involved with acting as executor of an estate.
Payment for Executor
Some wills specify that the executor of the estate be paid for their services. Executors aren’t always entitled to remuneration, so it’s important to establish whether this has been indicated in the will. Since many forms of payment are available, managing reimbursement can also be confusing.
You should always speak with a lawyer before making any decisions regarding payment of executioner.
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