Estate administration is the process by which the wishes of a Will maker are brought into effect following their passing. Your executor will manage this process, often with the assistance of a lawyer.
The process of estate administration can take many months, depending upon the nature and extent of the assets and property involved. In many cases, the executor will need to obtain probate of the Will before financial institutions (such as super funds and banks) will agree to let the executor administer the estate.
Once all of the assets and property of the estate are received, and all of the liabilities/debts are discharged (including any outstanding tax liability), the executors will make the final distribution to the beneficiaries of the estate.
Cairns Wills and Estate Lawyers can help with:
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