What is estate administration?
Estate administration or estate management is the process of carrying out a person's wishes as set out in their Will, obtaining legal authority to act on behalf of the deceased, making sure their assets are distributed as smoothly and efficiently as possible.
How does it work?
Estate administration starts when you or your loved ones die. It ends when everything has been given to the beneficiaries. There are a number of complexities involved when administering an estate and the whole process can take anywhere from six to 12 months or more and includes:
- Assisting with funeral arrangements
- Meeting with the beneficiaries of the Will, keeping them updated throughout the process and managing any conflicts
- Confirming any assets and debts
- Applying for and obtaining probate through the Family Court
- Transferring property, closing bank accounts, paying debts, tax and advertising for creditors
- A mandatory statutory period where the terms of the Will can be challenged
- Distributing the assets and accounting for everything in a final statement
If you have been appointed as a private Executor and want some more information check out our information for Executors.
Why choose Public Trust?
When we are appointed Executor of an estate, we’ll take care of everything. It's our job to make sure everything is carried out quickly, smoothly, fairly and accurately – supporting, listening and consulting with the beneficiaries of the Will along the way.
Your dedicated specialist will oversee the estate administration process from start to finish. They are supported by our extensive team of estate experts, lawyers and accountants who manage all the legal, tax and administrative tasks.
For more information about how we’ll help your loved ones, see our information about after a loved one has passed away.
What does it cost?
Our fees are based on the work we complete, not the value of an estate – we don’t take a percentage. A simple estate will cost less to manage than a complex estate.
At the beginning of the process we’ll provide a Plan of Administration outlining the steps we’ll take, an estimate of the costs and time involved.
To find out more, please see our Fees and Charges.
Talk to or meet with our experts
If you’d like more information about administering an estate, want to check if we hold a Will for your loved one or are an appointed Executor who doesn’t know where to start, we are here to help.
Speak to us now on 0800 371 471 or get in touch online to arrange an appointment.