Untangling Deceased Estates: A Quick Guide by Funera Sydney
UNTANGLING DECEASED ESTATES: A QUICK GUIDE BY FUNERA SYDNEY
Dealing with a loved one's passing involves more than grief; it requires navigating the complexities of property ownership. Funera Sydney is here to simplify the process during this challenging time.
DECODING DECEASED ESTATES
What's left after settling gifts and debts is the residuary estate, ready for distribution. Assets held jointly or within trusts fall outside the deceased estate.
OWNERSHIP 101
Understanding property ownership matters. Sole ownership means direct inclusion in the estate. Joint ownership or tenants in common add layers of complexity.
UNRAVELLING JOINT OWNERSHIP
If a home is jointly owned, the surviving joint owner gets the property outright. But as 'tenants in common,' each owner's share becomes part of the deceased estate.
HANDLING TENANT IN COMMON SCENARIOS
No right of survivorship for 'tenants in common' means the deceased owner's share goes into the estate, either sold or transferred to beneficiaries.
DEALING WITH RENTAL PROPERTIES
If the deceased was a tenant, the property goes back to the agent. For deceased landlords, lease agreements continue, with proper termination notice if needed.
EXECUTOR'S QUICK TIPS
Executors play a vital role. Check the Will for instructions, transfer assets into the executor's name, and meet notice period requirements to avoid legal issues.
REACH OUT TO FUNERA SYDNEY
For compassionate assistance in handling deceased estates, contact Funera Sydney at:
- Sydney: (02) 9954 6655
- Sydney (02) 9954 6655
- Newcastle (02) 4955 1110
- Wollongong (02) 4243 8755