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Managing a simple Estate
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Managing a simple Estate

Tania’s mother had just passed away and she wasn’t really sure what to do next. Because she was named as the Executor in the Will, she knew she had to arrange and pay for the funeral but she hadn’t turned her mind to the financial side yet.

Tania and her sister came in and sat with us and we just talked through the first steps to gathering in the assets and taking care of any liabilities. Although we talked through the important timeframes to guard against a Family Provision Application, they were lucky that the family got along well and it was very unlikely that there would be any claims against her mother’s estate.

Because there were some significant assets, we made a to-do list together including first advertising and then applying for a Grant of Probate and writing to the banks her mother had used. We also agreed we’d write to the retirement village, make arrangements for the shares to be transferred to the beneficiaries and they would contact an excellent agent recommended by Clearman Lawyers to sell their mother’s holiday place in Noosa.

As usual it took about 12 weeks to receive the Grant of Probate from the Supreme Court and then some time for each of the asset holders to make their internal enquiries to process the requests to release funds to Clearman Lawyers’ trust account. We also assisted with the Titles Office requirements to transfer her mother’s investment properties. We kept records of each transaction and provided those records to Tania about every two weeks so she was always up to date.

Tania took care of the sentimental items her mother had wanted to give to family members and we referred Tania to a very good accounting firm to assist with the date of death tax return.

When the funds were all held in trust and Tania approved the breakdown, we disbursed the funds to the beneficiaries as her mother had wanted. Reach out to start working with us now.o the beneficiaries as her mother had wanted. Reach out to start working with us now.

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