Twohill Wills & Estates Solicitors
We provide assistance for a range of matters relating to Wills & Estates.
Whether the deceased left a Will or not, our Estate Administration team can help you track down hidden funds, insurances, shares and other property that your loved one may have left behind.
When a loved one passes away, there is often a large amount of estate administration work to do for the executor or administrator left in charge. The deceased usually leaves:
- bank accounts
- a death benefit
- a house
- a company, business or trust
- personal items such as a car, jewellery, pets etc.
It is the executor or administrator’s job to identify the accounts the deceased may or may not have held, contact the organisations, notify them of the person’s death, gather in any funds owing and distribute those funds in accordance with the Will or rules.
To make matters worse, some of these organisations will require a copy of a Court certified Grant to release those funds. There are several types of grants:
- Grant of Probate (where there is a valid Will);
- Grant of Letters of Administration on the Will (where there is an invalid Will); or
- Grant of Letters of Administration on intestacy (where there is no Will); and
- Grant to reseal (where a grant was issued in another state or territory in Australia).
Often this is an arduous and painstaking task for people, especially when they have their own businesses, kids and life to attend to.
Whether the deceased left a Will or not, we can help you obtain the correct Grant painlessly, and track down any forgotten accounts, hidden funds, unclaimed insurances, shares and other property that your loved one may or may not have left behind.
Deed of Family Arrangement
A Deed of Family Arrangement is a useful tool to settle a contested Will or modify the actual Will to terms agreeable to the executor and all the other beneficiaries.
For example, the main value in the estate might be the matrimonial home, so the executor would need to sell the home in order to divide the funds between the beneficiaries. However, instead of selling the family home to gather in the money, one beneficiary might negotiate with the other beneficiaries to receive the home as their inheritance and pay out the other beneficiaries. In this instance, we would:
- Draft the Deed (i.e. a contractual agreement between the parties);
- A beneficiary would use the Deed to apply for a loan (using the inheritance he was supposed to receive in the estate as equity);
- Arrange a transfer of the title through the estate and be exempt from registration fees and stamp duty; and
- Have the bank pay the funds into the estate to be distributed to the other beneficiaries.
In this situation, everyone will still receive their agreed inheritance from the estate, however one beneficiary would have their inheritance as equity in the loan rather than receiving it in the form of cash.
In other situations, where there is a potential claim being made against the estate, the executor and beneficiaries can agree to vary the will on a final basis by way of a Deed and escape the costly route of legal proceedings.
If the Will or the assets of an estate have been left to several people, we can help you come to an agreement with how those assets are going to be distributed amongst yourselves.
For over 20 years, Twohill Lawyers have been providing comprehensive legal help to the people of the Gold Coast community. If you require further information or legal assistance in regards to the administration of an estate, please contact us today for a 15-minute, no obligation advice over the phone on 07 5571 1450 or email firstname.lastname@example.org.
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