General Information Only. This article explains general principles of Queensland estate administration. It is not legal, tax or banking advice.…
General Information Only: This article is general information, not legal advice. For advice specific to your circumstances, consult a qualified Queensland estate lawyer.
Quick Answer
As an executor in Queensland, your first steps are to locate the will, secure the deceased’s assets, obtain the death certificate, and identify beneficiaries and liabilities. For most estates you will then apply to the Supreme Court of Queensland for a Grant of Probate before you can deal with major assets. Throughout, you must act in the best interests of the estate, keep accurate records, pay debts, and distribute the estate according to the will and the Succession Act 1981 (Qld).
Estate Executor’s Guide four part series – Part 1: Getting Started
Administering an estate is a process that requires careful attention to detail, patience, and clear communication with everyone involved. This four-part series is designed to guide you through the role of an executor, starting with the initial steps you should take after a will-maker has passed away. While this guide can help you navigate many responsibilities, always remember that seeking professional legal advice may be necessary—particularly if the estate is complex or if disputes arise.
Estate Administration 101
As an executor, your task is to:
- Identify the estate’s assets and liabilities
- Manage these assets until they can be distributed
- Ensure beneficiaries receive what they are entitled to according to the will and the law
Effective communication and organisation are key to fulfilling these duties. If at any point you need professional guidance, consider contacting a solicitor. They can assist with legal procedures, help clarify complex issues, and ensure that you meet all your obligations as an executor.
What Is Comprised by the Estate?
The deceased’s estate generally includes all property and debts that were solely in their name. However, the estate does not typically include:
- Jointly Owned Property: Assets held as joint tenants (e.g., a jointly owned home) usually pass directly to the surviving owner.
- Joint Bank Accounts: These funds typically transfer to the surviving account holder without forming part of the estate.
- Superannuation & Life Insurance Proceeds: Unless expressly directed to the estate, these benefits often go directly to nominated beneficiaries.
- Company Assets: If the deceased held shares in a company, only the shares (not the company’s underlying assets) form part of the estate.
- Trust Assets: Property held in a trust does not become part of the estate; rather, it remains under the trust’s terms.
Duration of Estate Administration
There is no fixed timeline for administering an estate. Several factors influence how long it takes, including:
- Receiving information from banks, financial institutions, and other entities
- Advertising requirements when applying for Probate or Letters of Administration
- Selling real estate or other assets
- Resolving tax matters and finalising debts
- Observing statutory notice periods for potential claims against the estate (in many cases, six months)
Some estates are straightforward and can be finalised within months, while others (especially those involving ongoing trusts or minors) may require administration over many years.
What If Liabilities Exceed the Estate’s Assets?
If the estate owes more money than it holds in assets, the estate is considered insolvent. In such cases:
- The estate may be declared bankrupt.
- The executor is not personally liable for the estate’s debts, provided they have not distributed assets improperly.
- The estate’s remaining assets are used by the trustee in bankruptcy to pay out creditors as far as possible.
What Is Required to Administer an Estate Correctly?
Administering an estate successfully involves understanding the steps, timelines, and legal requirements. Key considerations include:
| Always remember | |
|---|---|
Decision making |
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Investing |
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| Immediate steps to take | |
|---|---|
| If you have been appointed as an executor, consider addressing the following items as soon as possible. | |
Original will |
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Funeral arrangements |
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Funeral director |
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Capacity |
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Execution |
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Probate |
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Family provision |
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Inventory |
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Copy of will |
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Insurance |
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Security |
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Consider appointment |
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Obtain Death Certificate |
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Appoint a Solicitor |
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Housekeeping |
|
Next Steps in the Series
This is Part 1 of the Estate Executor’s Guide, focusing on getting started. Subsequent parts will cover:
- Part 2: Administering the Estate (understanding the legal processes and how to deal with assets and debts)
- Part 3: Court Proceedings by and Against Executors (handling disputes, contests, and legal challenges)
- Part 4: Long-Term Trustees (managing ongoing trusts and guardianships)
If at any time you need legal guidance, consider contacting an experienced solicitor at 1300 580 413. They can help ensure your administration is carried out effectively, lawfully, and with the best interests of the estate and its beneficiaries in mind.
Frequently Asked Questions
1. Do I need a lawyer to act as executor in Queensland?
Not always, but many executors engage a solicitor for probate applications and complex estates to reduce the risk of personal liability and to ensure the administration complies with Queensland law.
2. How long do I have to administer the estate?
There is no fixed deadline, but executors are generally expected to administer the estate within about 12 months (the “executor’s year”). Unreasonable delays can expose you to claims from beneficiaries.
3. Can I be paid for acting as executor?
Executors are entitled to be reimbursed for expenses, and may apply for commission for their time and effort, which the Supreme Court of Queensland or the beneficiaries can approve.