Rebecca finds the simple way to deal with her late father’s estate

Rebecca’s father had recently passed away. Rebecca was the executor named in the Will and she had a copy of the Will. The estate consisted of her late father’s home and a small amount of cash held by Suncorp which needed to be divided between the beneficiaries, herself and two other siblings. She was a bit concerned that one of the other beneficiaries might contest the Will.

Having met me a few months earlier, she got in touch to see if we could help.

Rebecca would need to sell her late father’s house but his name was still on title. The Real Estate Agent was ready to sell the property but a contract could not be signed until the title was amended. This was the first thing we dealt with. In this estate we were able to amend the title to note Rebecca as Personal Representative of the estate. This would mean she could appoint the Agent and sign a contract for the sale of the home. We were able to get the appropriate documents drafted in a timely manner and have the new title ready to go for the agent. This is really helpful for the sale process as Agents will often draft a contract with a special condition that the contract is subject to a Transmission application to the Personal Representative of the estate. This creates that added level of complexity and uncertainty to a contract. We take the view that getting this part done early on in the piece just makes the whole process easier.

The house sale went through without a glitch and we retained the estate funds in our trust account until the six months had lapsed for notices of claims. The estate was administered simply without any problems. We also provided Rebecca with a complimentary estate plan review. In considering best how to provide for her loved ones, she decided to update her standard Will to a Testamentary Discretionary Trust so that the inheritance she would pass on to her adult children would have the benefits of asset protection and tax savings.

If you need help with a deceased estate and want your loved one’s estate given priority care and attention, then we invite you to experience our service. You can get started any time via our new client portal and have all your questions answered during an initial obligation free discovery call.

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Thankyou for reading and we hope to be able to serve you at some stage.