administering a deceased estate whilst grieving - a guide for executors

Losing someone you love is one of life’s most difficult experiences. In the midst of grief, suddenly you find yourself responsible for administering their estate.

For many people, being appointed as an executor feels overwhelming. This is the last thing that there is to deal with or that you can do for the deceased. There are legal obligations, paperwork, financial decisions and family expectations — all at a time when you’re simply trying to process your loss.

So what do you do now?

Firstly, know you are not alone. Our team of caring staff understand the emotional impact of your loss and are here to help.

What Does Estate Administration Involve?

Administering a deceased estate generally means managing and finalising a person’s financial affairs after their death. Put simply, it involves locating and reviewing the deceased’s Will (if any), identifying assets and liabilities, applying for probate (if required), calling in assets, paying debts and funeral expenses and distributing the estate to beneficiaries.

If there is no valid Will, the laws of intestacy apply, meaning the law dictates how the estate is to be distributed.

Whilst is sounds simple, grief and legal responsibility don’t always work together

Administering an Estate comes with serious legal obligations. Simply not knowing what these obligations are or not complying with your obligations can leave you at risk of claims made against you personally from beneficiaries or creditors.

Things can also get more complex particularly when there are multiple properties, business interests, superannuation considerations, estranged family members, blended families, unequal division of the estate to beneficiaries and when you are an executor as well as a beneficiary of the Estate.

When you are grieving, keeping a balanced approach to the careful administration can be hard.

What things can put you at risk as Executor?

An Executor can be held personally liable for losses incurred to the Estate. Losses to the Estate can occur in instances where estate assets are distributed too early, debts or tax liabilities are overlooked, proper procedures are not followed,

assets are mismanaged or the estate incurred unnecessary costs as a result of inadequate administration of the estate.

When an Executor is also a beneficiary, the lines between these two roles can too easily be blurred, putting you at risk of failing to adhere to your legal obligations and putting you at further risk of claims against you.

What can you do as Executor to protect yourself personally and your loved ones Estate?

Engaging our office to assist you in the administration of the Estate is invaluable to protecting you in your role as Executor. By engaging our firm, we ensure that the estate is administered efficiently and in accordance with your obligations as Executor. We know the processes, we know the systems, we know the law, we know your obligations. We guide you through each step of the administration process, providing you legal advice along the way so that you can be confident you are making decisions that are in the best interests of the estate and the beneficiaries.

We take the stress away, allowing you to grieve in your own way.