It is quite sensible to appoint a professional for estate administration as you might

end up as a subject to claim for breach of your duty if you distribute an estate

without properly taking into account the terms and conditions of the will and the

rules governing the different types of gifts and trusts. There are many ordinary

circumstances that must be considered in depth which requires the perfect

knowledge and expertise.

We at Probate Consultant have been rigorously trained to provide the best

probate services in VIC and assure your safety with an experience of dealing with

estate administration and applications for probates on a daily basis.

There are a range of issues that need to be addressed while administration like:

 The legacies in the will are well interpreted.

 The tax due is properly calculated.

 Deducting any inheritance tax from the beneficiary’s share of estate.

 Dealing with the complications related to variety of other assets.

 To provide certificates of deduction of Income tax to the beneficiaries.

 Reporting any capital gains and income to HMRC.

 To prepare proper estate accounts.

Criteria to appoint an executor:

 Appoint an executor that is above 8 years of age having a sound mind.

 You must appoint a substitute executor if the original executor denies to

fulfil his duties when actual action is warranted.

 Explain the terms to the executor during application of probate that he/she

will be held responsible for any errors.

Duties and responsibilities:

 It is important to fulfil the necessary requirements like meeting of funeral

expenses from the estate left behind by the testator and obtaining the

death certificate.

 To interpret the will and distribute the assets in the right manner and to the

correct beneficiaries.

 To draw an inventory of all the assets that are disposed or to be sold.

 Probates are mandated by the law since it is the official evidence of the

executor’s authority. Hence, there must be a proper application for

probates.

 Settlements of assets and payment of money that is due from the testator.

Advantages of an executor:

 By appointing a legal expert as an executor will relieve the family from any

administrative responsibilities of executing the will.

 Appointing an executor on time will save a lot of money and ensure proper

handling of the property to the beneficiaries.

 An executor will be neutral and honest with his dealings and hence can

make you avoid any pending cases due to family disputes.

Benefits:

1. Responsibility: The time after a loved one’s death is very critical for

any friend or a family member and there can be a lot of management

required during administration as it is a very responsible task. Hence,

you can appoint an executor that could be held responsible if they

are unable to administer correctly and liable for any claims brought

against the estate.

2. Expertise: A legal expert will reassure the beneficiaries of dealing the

matters regarding the estate correctly like sorting out the deceased’s

tax affairs or selling a property and managing investments.

3. Impartiality: A legal expert will ensure that all matters are dealt with

impartiality and in the best interests of the estate as tensions among

family members can brew up if any one of the siblings is appointed as

the executor. They will also have the required expertise to answer

any of the queries of the beneficiaries.

4. There will always be someone available to act: If a friend or a family

member who is appointed as an executor is unable https://probateconsultants.com.au/probate/ or unwilling to act

after your death then Non Contentious Probate Rules governs who

will act as your personal representative and this might fall to

someone who would not like to administer your estate. Furthermore,

it will become difficult for the beneficiaries to remove the personal

representatives.

Therefore, an application of a probate with a legal expert will help

you to retain control and will always be there to step into the role of

an executor.

5. Costs: Even a friend or a family member who is appointed as an

executor will rely on a solicitor to act on their behalf. Therefore, it

almost costs you the same as appointing an executive.

6. The ability to handle complicated issues: there can be certain cases

where administering an estate becomes difficult and complicated

due to the following reasons:

 In case of an insolvent estate where debt and liabilities

outweigh the assets.

 Having estates that includes property in a foreign country.

 Complicated wills having elaborate trusts.

Hence, it is always advisory to apply for a probate by

appointing a legal expert in VIC that will make sure that the

correct procedures are followed.