Preparing wills and administering estates varies widely between clients depending on a number of circumstances. Administering an estate can be an emotional and complex matter where sound advice, empathy and good judgment are essential.
The first step is to arrange a family meeting with the executors of an estate.
Depending on the value of the assets of the estate, we would then apply for Probate or Letters of Administration to the High Court. To do this we may need a copy of the death certificate and the executors or administrators required to swear affidavits (sworn statements) and other documentation. Once Probate or letters of administration have been granted, we can then administer the estate according to the wishes set out in the will. This may include selling assets such as the family home, closing bank accounts, selling shares and arranging for the transfer of ownership of any specific items listed in the Will. Any debts such as funeral expenses, credit cards, hire purchases, mortgages need to be repaid from the assets of the estate before a distribution can be made to the beneficiaries. Our experts can ensure the exabits meet all their tax obligations and advice on any circumstances that can arise.
There are many steps involved, and each situation is different depending on the value of assets, whether or not property is owned jointly, whether any bequests have been made and whether or not a trust is involved.
Don’t hesitate to reach out to the team directly or if you’re not sure who best to contact, reach out to us via our contact us page.