Estate Ease: Your Quick Guide with Funera Sydney
ESTATE EASE: YOUR QUICK GUIDE WITH FUNERA SYDNEY
Losing a loved one is tough, and sorting their finances can be overwhelming. Funera Sydney is here to simplify. In this quick guide, we'll tackle key questions on estate accounts, giving you straightforward answers.
Losing a loved one is tough, and sorting their finances can be overwhelming. Funera Sydney is here to simplify. In this quick guide, we'll tackle key questions on estate accounts, giving you straightforward answers.
- 1. BANK ACCOUNTS AFTER PASSING:
- When someone passes, individual bank accounts freeze, safeguarding the estate. Joint accounts continue with adjusted signing requirements. Debts are settled, and credits go to beneficiaries per the Will. - 2. UNDERSTANDING DECEASED ESTATES:
- A deceased estate involves assets and liabilities left behind, needing management and settlement. - 3. ROLE OF AN EXECUTOR:
- An executor administers the deceased person's estate, ensuring assets align with the Will. - 4. EXECUTOR'S TASKS:
- Tasks include locating the Will, arranging the funeral, protecting assets, settling debts, applying for probate, and ensuring proper asset distribution. - 5. NAVIGATING PROBATE:
- Probate validates the Will, allowing the executor to manage the estate. Documentation includes completing forms and providing the Death Certificate. - 6. ACCESSING THE DECEASED'S BANK:
- The executor, administrator, or Next of Kin contacts the bank, providing required documents for account access. - 7. TIMELINE FOR ESTATE SETTLEMENT:
- Closing an estate account can take months, varying between banks. Immediate funds for expenses may be available. - 8. PAYMENTS FROM A DECEASED ESTATE:
- Executors can request continued payments, assist with funeral expenses, and cover estate-related costs. Setting up an 'estate of the late' account is an option. - 9. FUNERAL EXPENSES AND THE ESTATE:
- Funeral expenses can be covered by the estate. Funera Sydney offers flexible options, like direct cremation, allowing time for a more elaborate memorial service later. - 10. CARING FOR YOURSELF:
- Administering an estate is complex. Prioritise self-care and seek support from family, friends, or bereavement services.
For assistance, contact Funera Sydney:
- Sydney: (02) 9954 6655
- Sydney (02): 9954 6655
- Newcastle (02): 4955 1110
- Wollongong (02): 4243 8755