Straightforward estates can be administered in less than 6 months. Others can take more than a year.
The time taken to administer an estate depends on a number of things, including but not limited to:
- the complexity of the Will
- the assets in the estate
- whether beneficiaries can be located and are over the age of eighteen
- whether any legal claims have been made against the estate or are likely to be made.
Some of the most common causes for delays are:
- difficulties in locating the will and delays with obtaining the death certificate
- difficulty in identifying and locating beneficiaries
- a person being incorrectly named in the Will
- unclear payment directions from beneficiaries
- the executor is unable to ascertain who is “in the group” in instances where assets are left to a group of people (e.g. “my nieces and nephews”)
- dealing with issues when trying to obtain a grant of probate such as: capacity of the testator at the time the testator signed the Will or inability to ascertain whether the Will is the latest Will of the testator
- dealing with assets outside of Victoria
- claims made against the estate after a grant of probate has been obtained
- dealing with the deceased’s taxation obligations
- dealing with Trusts outlined in the Will or creation of trusts in the manner directed in the Will
If you have any questions about deceased estates administration, we can help.
State Trustees has decades of experience in estate planning and can provide expert and impartial advice.
Call us now for an obligation-free discussion on 1300 138 672
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