In most cases a Trust Company or lawyer needs to get involved in the administration of an estate, to apply for probate and to complete the legal formalities. 

While you can appoint someone other than a Trust Company as executor, you need to consider the suitability of that person (do they know what to do and can they remain independent and carry out your wishes?) how will your death affect them emotionally and will they be able to carry out the task (will they be in the country and alive at the time of your death?).

Estate administration can be complex and time-consuming. It requires expertise in law, accounting, investment and taxation.

Why appoint Trustees Executors as the Executor of your Will?

By appointing Trustees Executors as the executor in your Will, we will meet with your loved ones to discuss the steps involved in order to administer your estate. These include:

• Obtaining probate, which is the legal authority to act for the estate
• Confirming, calling-in, and protecting the estate's assets. For example, selling assets to divide the proceeds, preparing certificates of administration for investment assets, or management of property assets such as maintenance or sale
• Identifying and paying debts, including calling for creditors to document claims
• Tracing beneficiaries, including obtaining proof of kinship if necessary
• Responding to legal challenges, meaning the executor must act impartially by supplying necessary information to parties
• Notifying a surviving spouse/de facto partner to allow them to make any claims on the will
• Distributing the assets, including payment of creditors, taxes, or holding assets in Trust. This may take months or years to complete depending on the will
• Accounting for the estate, by providing all beneficiaries with a report on how the estate has been administered.

How long does estate administration take?

Generally you can expect estate administration to take six to nine months to be finalised. Where there are difficulties in contacting beneficiaries or legal action, distribution may not be possible for some time.

No one knows how much time they have left, being organised and planning for the future is important. This can help make your estate easier and less costly to wind up.

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Estate management can be a tricky area of the law to navigate unless you have the right knowledge and experience.

At Trustees Executors our experienced team can expertly manage your affairs, contact us today to speak with one of our Client Account Managers or to arrange a complimentary consultation.