Probate in Victoria
By way of introduction, Probate Excellence are lawyers whose expertise lies in wills, probate, estate administration and rights of beneficiaries. When a loved one or a close relative dies, we often receive a phone call telling us a close family member has died and what it is they need to do? Of course we express our condolences and we ask what arrangements are or have been made for the funeral. The first priority, naturally, before anything else is making the necessary funeral arrangements. This task falls upon the next of kin and/or the executor named in the Will. Once the funeral is over, then its time to turn your mind to the process of dealing with the Estate. You will hear a lot about Probate. Whilst Probate is a technical legal term, it is easier to understand or deal with the first things you do. A starting list is:
- Locating the Will
- Obtaining the Death Certificate
- Gathering together a list of the Assets and Liabilities
The Will
Task 1 is locating the Will. Either the deceased (testator) left his or her Will with their important papers or with the solicitor who prepared the Will. The Will identifies the nominated executor(s). It will be the executor(s) who is responsible for managing the estate.
The Death Certificate
It is usually the case the Funeral Director and the Medical Practitioner file the notice of death with the Victorian Registry for Births Deaths and Marriages. The original Death Certificate will be posted to the Informant who is usually the next of kin. In Victoria the Death Certificate is blue and printed on A4 and in the normal course of events the death certificate will be available about 3 weeks after the date of death,
List of Assets and Liabilities
A preliminary list of assets and liabilities needs to be made. Typically this list will comprise real estate (the family home and any investment or rental properties), bank accounts (copy bank statements), superannuation and life insurance policies, motor vehicle and maybe a share portfolio. Liabilities will include loans and credit cards.
Appointing a Solicitor to Act for the Estate
Using an experienced probate solicitor keeps the process relatively simple. Having legal representation also protects you. Being the executor to an estate carry responsibilities. There is the very real potential for personal liability. By way of example, you can be personally sued by the Australian Tax Office for past tax liabilities; unpaid creditors can sue you; then their are unhappy and litigious beneficiaries and claimants (read family) lining up (this is a whole new chapter on death, greed, avarice and anger) As experienced probate solicitors we provide a whole range of support and invaluable advice as well as carry out the functions required to manage the estate administration from obtaining the grant of probate, identifying and collecting in the assets, through to a final distribution to the beneficiaries. We are independent and provide unbiased independent advice which in many cases can stop arguments before they start. The above is an outline. Probate and estate administration can be a lot of what ifs. The process is rarely simple. It can be. It should be. But it just rarely is.