Administration Service - frequently asked questions
Frequently asked questions (FAQs)
You may also find these useful:
If you have any questions that aren't answered here, contact us.
I'm an Executor who has already got a Grant of Probate from High Court. Can Public Trust help me with the estate administration?
Normally we would look after the estate administration process from start to finish. However, we can review the probate and assist you with your enquiry. Please contact us to see if we can assist.
How long does it usually take for the estate’s assets to be realised?
It depends on what the assets are. While some can be quick, other assets can take a few months to be collected.
When a person has died unexpectedly and the Death Certificate is ‘subject to Coroner’s findings’. Insurers usually wait for the outcome of the coroner’s report before agreeing to pay out a policy.
I’m not sure what debts the deceased has. How can I make sure that all debts are paid?
Public Trust can help you advertise a notice to creditors.
I already know what debts the deceased has. Does that mean I don’t need to advertise to the creditors?
As the Executor, you can make that decision. However, under s35 of the Trustee Act 1956, Executors are personally liable to pay the estate debts unless they have advertised in the newspaper.
When does my role as Executor end?
The role ends when all distributions are made to the beneficiaries, and all expenses and tax have been paid.
However, distribution to under-age beneficiaries and other ongoing estates is not part of the executor’s duties. This is the duty of the trustee(s).
As an Executor, can I get paid for the hours I work on administering the estate?
Unless specified in the Will, the executor does not get paid to do the estate administration.
Can I distribute the estate immediately after the assets are realised?
The law states that should an executor distribute the estate within six months of the date of Probate and a successful claim is made, they can be held personally liable. The choice as to whether they wait the six months or not rests with them.
What happens if I still want to go ahead with distribution before the 6-month hold is up?
The executor is personally liable for any claims made on the estate within that six-month period. However, in circumstances where the executor is sure that there will be no claims, the executor may choose to distribute the estate early.
Can I transfer all the realised funds to the trustee account as soon as possible as I have numerous creditors chasing me for the debts of the deceased?
According to Insolvency Act 1967, there is an order of priority that determines which debts are to be paid first.
Can you help me with the tax return to the date of death?
Yes we can. Please be aware that the process can take weeks, depending on when we get a response from IRD.