Supporting Families Through Estate Administration in Sydney
Supporting Families Through Estate Administration in Sydney
When a cherished one passes away, it’s a deeply emotional time for families. On top of grieving, there are often complex administrative tasks involved in finalising the estate. As an executor or administrator, this responsibility falls to you.
To assist families with estate administration in Sydney, Funera Sydney has put together this 10-step guide:
- Arrange the Funeral: Work with Funera Sydney to organise a meaningful funeral or memorial service. Obtain multiple certified copies of the death certificate.
- Check for a Valid Will: Find out if there is a valid will and its location. A will determines asset distribution. If no will exists, follow intestacy rules.
- Notify Relevant Organisations: Inform family, employers, businesses, government agencies like Centrelink and Veterans’ Affairs, banks, utilities, insurers etc. Provide a death certificate where required.
- Collect Assets and Documents: Gather important documents, assets and valuables. Redirect mail and secure properties.
- Apply for Probate: For larger estates, apply for probate through the NSW Supreme Court for legal authority.
- Identify Beneficiaries: The will (or intestacy rules) outlines beneficiaries. Notify them, discuss estate administration intentions.
- Claim Superannuation and Insurance: Check policies and super funds for any payouts to beneficiaries. These don’t form part of estate assets.
- Pay Debts and Expenses: Use estate funds to settle funeral costs, medical bills, taxes owed, loans, credit cards, fees etc.
- Prepare Estate Accounts: List all assets, liabilities, income and expenses. File tax returns to date of death and for estate. Seek tax advice if required.
- Distribute to Beneficiaries: Once debts and taxes are paid, notify beneficiaries of entitlements and distribute assets.
Estate administration can be complex, especially larger estates. The team at Funera Sydney can provide guidance and support through this process. Contact us today to discuss your needs.