Estate Administration

Last updated: May 2019

Glossary

Administrator means a person who is authorised by the Supreme Court by issuing Letters of Administration to administer or manage the estate of a deceased person and no valid Will is in place or the Executors named in the Will are unwilling or unable to take on their duties.

 

Affidavit means a statement in writing providing evidence to a relevant situation, which was sworn or affirmed outside of the court by the person submitting an application to a court.

 

Beneficiary means a person who inherits from a deceased person’s estate as outlined in the Will or by the probate laws in each State/Territory or a person who receives a benefit from a trust.

 

Death Certificate means an official document issued by the State/Territory’s Registry for Births, Deaths and Marriages containing information about the deceased person and the particulars about the death including date, place and cause of death.

 

Deceased Estate or Estate means the total property, assets and liabilities of the person who has passed away. The estate is held in trust by the Executor or Administrator appointed until it is distributed to the Beneficiaries.

 

Executor means a person who is officially authorised by the Supreme Court by issuing Grant of Probate to administer or manage the estate of a deceased person according to the Will.  A female Executor is called an Executrix.

 

Grant of Probate or Probate means an official document issued by the Supreme Court declaring the Will presented to be the true and last Will of the deceased person and authorising the person(s) named in the Will to act as Executor(s) to administer or manage the deceased person’s estate in accordance with the Will.

 

In Specie means that an asset’s or item’s characteristics, condition, specification etc. are precisely as presented or as specified.

 

Intestate means when a person passes away without a valid Will.

Letters of Administration means an official document issued by the Supreme Court authorising a person to act as Administrator to administer or manage the estate of a deceased person in accordance to the law when no valid Will is in place or all Executors named in the Will are unwilling or unable to take on their duties.

 

Medical Certificate of Cause of Death means the document issued by a Medical Doctor declaring the cause, date and time of death. A Medical Certificate of Cause of Death may also be called Cause of Death Certificate or a Doctor’s Certificate of Cause of Death.

 

Next of Kin means the deceased person’s spouse, children over the age of 18, parents and siblings over the age of 18.

 

Power of Attorney means a formal arrangement by which a person called the Donor appoints another person called Attorney to act on their behalf for private affairs, business, or other legal matters. Power of Attorney ends with the death of the Donor.

 

Tax Invoice means an original invoice containing the words ‘Tax Invoice’, details of the purchase, total amount, Goods & Services Tax (GST), date of purchase, company’s name and Australian Business Number (ABN).

 

Testamentary Trust means a trust that is established and comes into effect after the death of the person making the Will requesting a Testamentary Trust. On the day of the death, the Estate is transferred to the Trust to be managed for the benefit of the named Beneficiaries.

 

Testator means a person who made a Last Will & Testament to govern their estate.

 

Will means a legally binding document created by the Testator to appoint persons who will administer or manage their estate, instruct how their estate is to be divided and to which Beneficiaries and it may also include specific instructions about how the estate is to be administered.