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Step 30 - Prepare Estate & Request Transfer of Assets

Last updated: June 2019

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Why is this important?

This step explains everything you need to do to prepare the estate accounts as agreed with the Beneficiaries after receiving tax advice. Once set-up, transfer and release of assets into the estate can be initiated and monitored.

simplyEstate is here to help with the process. Contact us via email or book a first free phone appointment.

Approximate Effort & Cost

Reading: 30 mins
Preparing: 1-2 hrs
Completing: 1-3 days
Waiting: 1-4 weeks
Total: 1.5-4.5 weeks
Cost: $0

Effort and cost are general estimates only and are based on the assumption that you complete this step without specialist help.

Instructions

To find out how this Process Guide works, access the instructions here.

Glossary

To find out what the capitalised words mean, access the glossary here.

Forms

Western Australia (WA)

Tax file number – application for a deceased estate form

Sole Owner or Tenants in Common
Form A1 – Application by Personal Representative
Form B3 – Statutory Declaration

Joint Owner – Survivorship

Form A2 – Survivorship
Form B3 – Statutory Declaration

Joint Owner – Both Deceased

Form A1 – Application by Personal Representative
Form A2 – Survivorship
Form B3 – Statutory Declaration

New South Wales (NSW)

Tax file number – application for a deceased estate form

Sole Owner or Tenants in Common
Form 03AE – Transmission application by executor, administrator or trustee
Online Form – Notice of Sale Form

Joint Owner – Survivorship
Form 02ND – Notice of Death
Online Form – Notice of Sale Form

Joint Owner – Both Deceased
Form 03AE – Transmission application by executor, administrator or trustee
Online Form – Notice of Sale Form

Victoria (VIC)

Tax file number – application for a deceased estate form

Sole Owner or Tenants in Common
Proof of Identify Form – verified by Australia Post
Form 49TLA – Application by legal personal representative
Statutory Declaration Form

Joint Owner – Survivorship
Form 50TLA – Application by surviving proprietor;
Notice of Acquisition Statutory Declaration Form

Queensland (QLD)

Tax file number – application for a deceased estate form

Sole Owner or Tenants in Common with Grant of Probate or Letters of Administration
Form OSR D2.2 – Dutiable transaction statement
Form 5 – Transmission Application By Personal Representative

Sole Owner or Tenants in Common without Grant of Probate or Letters of Administration
Form OSR D2.2 – Dutiable transaction statement
Form 5A – Transmission Application (no grant in Queensland or no Queensland recognised grant)

Joint Owner – Survivorship
Form OSR D2.2 – Dutiable transaction statement
Form 4 – Request to record death

Other forms not listed here may be required based on your specific circumstances.

Legislation

Western Australia (WA)

ADMINISTRATION ACT 1903 (WA) (Austl.) (accessed 2/11/2018)

New South Wales (NSW)

PROBATE AND ADMINISTRATION ACT 1898 (NSW) (Austl.) (accessed 2/11/2018)

Victoria (VIC)

ADMINISTRATION AND PROBATE ACT 1958 (VIC) (Austl.) (accessed 2/11/2018)

Queensland (QLD)

SUCCESSION ACT 1981 (QLD) (Austl.) (accessed 2/11/2018)

Legislation shown may not be comprehensive and other legislation and rules may apply to your specific circumstances.

30.1 Overview

Now that you have determined how the estate and distribution will be structured, you can prepare the estate to receive all assets held in the name of the deceased person. For this Step you will need to consider the following:

prepare the estate to receive assets;
prepare the necessary documents and certified copies of the Grant of Probate or Letters of Administration;
work through the Assets & Liabilities Inventory to prepare for the transfers; and
complete or finalise the processes with each organisation that hold assets and request for transfer and release.

Contents
30.2 Set-up the Deceased Estate
30.3 Prepare Necessary Documents
30.4 Identify Assets and Request Transfer
30.5 Confirm Assets Have Settled in Estate or Trust Accounts
30.6 Sell Assets Where Required
30.7 Pay any Outstanding Debts
30.8 Tax on Estate Assets while in Your Custody
30.9 Actions and Decisions to Complete Step

30.2 Set-up the Deceased Estate

In order for you as the Executor or Administrator to collect all assets of the estate for finalisation and distribution you need to set-up the estate. This will allow the deceased person’s assets held by organisations to be transferred into your custody.

To do this you should follow these common steps:

Register for a Tax File Number for the deceased estate to avoid paying tax at the highest income tax rate by:
– registering online here;
– completing the Tax file number – application for a deceased estate form; or
– registering through your tax agent.
Open a bank account for the deceased estate. These are usually called ‘Estate of the Late’ bank accounts. As you work through the process with the banks as outlined in Step 19.9 – Open an ‘Estate of the Late’ Bank Account you will be asked to set this up. You will likely need a Grant of Probate or Letters of Administration.

Note: where no Grant of Probate or Letters of Administration are needed for the estate administration and distribution, a Next of Kin can also request funds in the deceased person’s name to be transferred to their personal account rather than an ‘Estate of the Late’ account for distribution. You must keep detailed records of what funds are personal and which belong to the estate.

Where a testamentary trust is part of the Will or if you and the Beneficiaries have agreed to set a post-death testamentary trust up as outlined in the previous Step 29 – Open Testamentary Trust Account, you may still need to complete the above steps for the deceased estate if some cash assets will be finalised and distributed outside of the trust.

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30.3 Prepare Necessary Documents

If the estate has assets that need a Grant of Probate or Letters of Administration and you have applied to the relevant Supreme Court, you should enquire with the court if you haven’t received any documents within their standard processing times as outlined in Step 27.10.

Once you have received the documents, you should prepare certified copies that can be submitted to each organisation that requires these to initiate the funds release and transfer. Please note some organisations may require seeing the original documents and will not allow certified copies.

In Australia, the following people are authorised to certify documents:

Health Professions: Chiropractor, Dentist, Medical practitioner, Nurse, Optometrist, Pharmacist, Physiotherapist;
Legal Professions: Legal practitioner, Patent attorney, Trademarks attorney;
Court Positions: Bailiff, Justice of the Peace, Judge, Magistrate, Registrar, or Deputy Registrar, Clerk, Master of a court, CEO of a Commonwealth court;
Government representatives (elected): Federal, State or Territory or Local;
Public Servants: Federal, State or Territory or Local – employed for five years or more;
Member of: Chartered Secretaries Australia, Engineers Australia, Australasian Institute of Mining and Metallurgy;
Bank officer, building society officer, credit union officer, finance company officer – employed for five years or more, Veterinary surgeon, Accountant (member of ICA, ASA, IPA or CPA, ATMA, NTAA); and
Minister of religion, Marriage celebrant, Notary public, Police Officer, Sheriff or Sheriff’s Officer, Teacher (full-time) at a school or tertiary education institution.

Outside Australia, the following people are authorised to certify documents:

Justice of the Peace;
Notary public;
Australian Consular Officer or Australian Diplomatic Officer (within the meaning of the Consular Fees Act 1955); and
Employee of the Commonwealth or the Australian Trade Commission who works outside Australia.

From your previous contact with each organisation to find out the balance of the assets and liabilities held by them, you were likely informed about what other specific forms and documents are needed for each organisation.

Remember, if you used the simplyEstate Notification Tool or notified the organisations directly of the death, you may have received information or even a complete kit with forms and necessary documents via email or post, which you should review.

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simplyEstate is here to help. Contact us via email or book your free first phone appointment.

30.4 Identify Assets and Request Transfer

Going through your finalised simplyEstate Assets & Liabilities Inventory showing all estate assets, you can work your way through one-by-one to make a request for transfer or release. Make sure to keep track of the dates when you submitted the requests and when you expect the transfer to occur, so you can monitor progress in case you need to follow up.

Some organisations will allow you to email or post documents for an asset release while others may ask to post the documents or even make an appointment with you in person. Make sure to always check beforehand what documentation, forms and identification are required prior to submitting to prevent unnecessary processing time delays. Also, make sure that the original documents will be returned to you or else you should only submit certified copies.

You will need to inform the relevant organisations of the bank account details, if you want the particular asset to be transferred to the trust account, ‘Estate of the Late’ account or the Next of Kin’s account.

30.4.1 Transfer Lower Value Assets

Assets that are of a lower value and don’t need a Grant of Probate or Letters of Administration may have already been transferred by you.

30.4.2 Transfer Higher Value Assets

Where a Grant of Probate or Letters of Administration are needed, can now also be requested to be released and transferred to the ‘Estate of Late’ bank account or trust bank account you created.

30.4.3 Transfer Real Estate

Where a property was solely owned by the deceased person or as tenants in common, the real estate will in the first instance need to be transferred to the Executor’s or Administrator’s name. Once that is completed, the real estate forms part of the deceased estate and can then be sold for cash proceed distribution or can then be transferred to the appropriate Beneficiaries as part of the distribution as outlined in Step 34.

You will in most cases not be able to transfer real estate directly to the Beneficiaries without transferring to the deceased estate first. As the Executor or Administrator, you should read all the following Steps in this simplyEstate Process Guide as you may be personally liable if a claim against the estate is made and you didn’t follow the notice requirements and periods prior to distribution.

Remember, where a property is owned jointly between the deceased person and another person, the real estate will in most cases transfer to the surviving joint owner. The process to transfer is outlined by State/Territory below under the heading Joint Tenants.

simplyEstate has listed all most common processes by State/Territory in which the real estate is registered for your convenience as follows:

Western Australia (WA) - Perth

Landgate

Phone: 08 9273 7373
Opening Hours: Monday – Friday, 8:30am – 4:30pm AWST
Email: [email protected]
Address: 1 Midland Square, Midland WA 6056
Post: PO Box 2222, Midland WA 6936

Office of State Revenue

Phone: 08 9262 1400
Opening Hours: Monday – Friday, 8:30am – 4:30pm AWST
Email: [email protected]
Address: QBE House, 200 St Georges Terrace, Perth WA 6000
Post: GPO Box T1600, Perth WA 6845

Certificate of Title
It is highly recommended to do a Certificate of Title search online while administering the estate. This will allow you to verify the ownership of the real estate before proceeding. The three forms of ownership are:

Sole Ownership – only the deceased person’s name is listed on the title under the proprietors;
Joint Tenants – the deceased person’s and at least one other name are listed on the title under the proprietors and should state “as joint tenants”; and
Tenants in Common – the deceased person’s name and other names are listed on the title under the proprietors and states something to the effect of “share as tenants in common”, “as tenants in common in equal shares” or “one undivided third share as tenants in common”.

Visit the Landgate Certificate of Title website here to buy a Certificate of Title for real estate registered in Western Australia, by completing the information and paying the fee by credit or debit card.

Process
The process for each type of ownership and situation is listed below. After completing the relevant forms and documents outlined below that apply to your situation, you must first present the documents at the Office of State Revenue to assess if stamp duty is payable before submission to Landgate.

Sole Ownership or Tenants in Common – Executors with Grant of Probate or Administrators with Letters of Administration – Transfer of Title

For estates where you as the Executor or Administrator have obtained either a Grant of Probate or Letters of Administration you will need to complete and provide the following information:

Proof of identify with Australia Post as outlined here;
Original Death Certificate;
Original Grant of Probate or Letters of Administration;
Certificate of Title purchased online here;
Form A1 – Application by Personal Representative;
Form B3 – Statutory Declaration;
Duplicate Title if issued (where the real estate is mortgaged the bank must produce the duplicate title); and
Registration fees payable

The full guide with examples of how the forms should be completed can be accessed here.

Once the real estate is transferred to the deceased estate and the Executor’s or Administrator’s name(s) are on the title you can either

start with the sale process if this was the intent outlined in the Will or agreed with the Beneficiaries where there is no valid Will; or
transfer the real estate to the appropriate Beneficiaries as outlined in the Will or as per the ADMINISTRATION ACT 1903 (WA) (Austl.) (accessed 2/11/2018). This can only be done once all other Steps have been completed to protect you as Executor or Administrator from personal liability claims and is described in Step 34 – Finalise & Distribute the Deceased Estate.

Joint Tenants – Surviving Joint Tenant – Transfer of Title
The surviving joint tenant will need to complete and provide the following information:

Proof of identify with Australia Post as outlined here;
Original Death Certificate;
Certificate of Title purchased online here;
Form A2 – Survivorship;
Form B3 – Statutory Declaration; and
Registration fees payable.

The full guide with examples of how the forms should be completed can be accessed here.

Joint Tenants – Executor or Administrator – Transfer of Title where Both Tenants Deceased
Where both joint tenants of a real estate have deceased the Executor or Administrator of the last deceased person should apply by completing and providing the following:

Proof of identify with Australia Post as outlined here;
Original Death Certificate;
Original Grant of Probate or Letters of Administration;
Certificate of Title purchased online here;
Form A1 – Personal Representative;
Form A2 – Survivorship;
Form B3 – Statutory Declaration; and
Registration fees payable.

The full guide with examples of how the forms should be completed can be accessed here.

New South Wales (NSW) - Sydney

NSW Land Registry Services

Phone: 1300 052 637
Opening Hours: Monday – Friday, 8:30am – 4:30pm AEST
Online Enquiry: You can send an email online here
Address: 1 Prince Albert Road, Queens Square, Sydney NSW 2000
Post: GPO Box 15, Sydney NSW 2001

Office of State Revenue

Phone: 1300 139 816
Opening Hours: Monday – Friday, 8:30am – 5:00pm AEST
Email: [email protected]
Address: 132 Marsden St, Parramatta NSW 2150
Post: Revenue NSW, GPO Box 4042, Sydney NSW 2001

Sole Ownership – only the deceased person’s name is listed on the title under the proprietors;
Joint Tenants – the deceased person’s and at least one other name are listed on the title under the proprietors and should state “as joint tenants”; and
Tenants in Common – the deceased person’s name and other names are listed on the title under the proprietors and states something to the effect of “share as tenants in common”, “as tenants in common in equal shares” or “one undivided third share as tenants in common”.

Visit the NSW Land Registry Services online Certificate of Title website here to do a Certificate of Title search for real estate registered in New South Wales, by completing the information and paying the fee by credit or debit card.

Process
The process for each type of ownership and situation is listed below. After completing all the relevant forms and documents outlined below that apply to your situation, you must first present the documents at the Office of State Revenue to assess if stamp duty is payable before submission to NSW Land Registry Services.

Sole Ownership or Tenants in Common – Executors with Grant of Probate or Administrators with Letters of Administration – Transfer of Title
For estates where you as the Executor or Administrator have obtained either a Grant of Probate or Letters of Administration you will need to complete and provide the following information:

Proof of Identify;
Certified copy of the Death Certificate;
Original Grant of Probate or Letters of Administration;
Certificate of Title;
Form 03AE – Transmission application by executor, administrator or trustee;
Notice of Sale Form completed online here; and
Registration fees payable.

The complete guidelines can be accessed here.

Once the real estate is transferred to the deceased estate and the Executor’s or Administrator’s name(s) are on the title you can either –

start with the sale process if this was the intent outlined in the Will or agreed with the Beneficiaries where there is no valid Will; or
transfer the real estate to the appropriate Beneficiaries as outlined in the Will or as per the PROBATE AND ADMINISTRATION ACT 1898 (NSW) (Austl.) (accessed 2/11/2018). This can only be done once all other Steps have been completed to protect you as Executor or Administrator from personal liability claims and is described in Step 34 – Finalise & Distribute the Deceased Estate.

Joint Tenants – Surviving Joint Tenant – Transfer of Title
The surviving joint tenant will need to complete and provide the following information:

Proof of Identify;
Original Death Certificate;
Certificate of Title;
Form 02ND – Notice of Death;
Notice of Sale Form completed online here; and
Registration fees payable.

The complete guidelines can be accessed here.

Joint Tenants – Executor or Administrator – Transfer of Title where Both Tenants Deceased
Where both joint tenants of a real estate have deceased, the Executor or Administrator of the last deceased person should apply by completing and providing the following:

Proof of Identify;
Original Death Certificate;
Proof of the other joint tenant’s death;
Original Grant of Probate or Letters of Administration;
Certificate of Title;
Form 03AE – Transmission application by executor, administrator or trustee;
Notice of Sale Form completed online here; and
Registration fees payable

The complete guidelines can be accessed here.

Victoria (VIC) - Melbourne

VIC Land Registry Services

Phone: 03 9194 0601
Opening Hours: Monday – Friday, 8:30am – 4:00pm AWST
Address: 2 Lonsdale Street, Melbourne VIC 3000
Post: 2 Lonsdale Street, Melbourne VIC 3000

State Revenue Office

Phone: 13 21 61
Opening Hours: Monday – Friday, 8:30am – 4:30pm AWST
Online Enquiry: You can send an email online here
Online Lodgement: You can lodge online here
Address: 121 Exhibition Street, Melbourne VIC 3000
Post: GPO Box 1641, Melbourne VIC 3001

Sole Ownership – only the deceased person’s name is listed on the title under the proprietors;
Joint Tenants – the deceased person’s and at least one other name are listed on the title under the proprietors and should state “as joint tenants”; and
Tenants in Common – the deceased person’s name and other names are listed on the title under the proprietors and states something to the effect of “share as tenants in common”, “as tenants in common in equal shares” or “one undivided third share as tenants in common”.

Visit the LANDATA website here if you cannot find the Certificate of Title for real estate registered in Victoria and need to order a new Certificate of Title.

You will need the Volume & Folio number of the title. If you don’t have this information you can select ‘Titles & property certificates’ which allows you to search by address and select ‘Land Index Search’ to obtain the Volume and Folio number.

If you have the Volume & Folio number for the real estate, you can select ‘Document tracking’ and ‘Final search’, complete the necessary information and pay the fee by credit or debit card. A complete guide is available here.

Process
The process for each type of ownership and situation is listed below. After completing the relevant forms and documents outlined below that apply to your situation, you must first complete a Notice of Acquisition with the State Revenue Office to assess if stamp duty is payable. Once completed you then submit one copy with the other documents outlined below to VIC Land Registry Services.

The second copy of the Notice of Acquisition will additionally need to be submitted to the relevant municipal council.

You can only lodge the Notice of Acquisition online here by registering and completing the relevant details.

Proof of Identify Form and verified by Australia Post as outlined here;
Certified copy of the Grant of Probate or Letters of Administration;
Certificate of Title;
Duplicate Certificate of Title if issued (where the real estate is mortgaged the bank must produce the duplicate title);
Form 49TLA – Application by legal personal representative;
Statutory Declaration Form; and
Registration fees payable.

The complete guidance information and how to complete the forms can be found here.

Once the real estate is transferred to the deceased estate and the Executor’s or Administrator’s name(s) are on the title you can either –

start with the sale process if this was the intent outlined in the Will or agreed with the Beneficiaries where there is no valid Will; or
transfer the real estate to the appropriate Beneficiaries as outlined in the Will or as per the ADMINISTRATION AND PROBATE ACT 1958 (VIC) (Austl.) (accessed 2/11/2018). This can only be done once all other Steps have been completed to protect you as Executor or Administrator from personal liability claims and is described in Step 34 – Finalise & Distribute the Deceased Estate.

Joint Tenants – Surviving Joint Tenant – Transfer of Title
The surviving joint tenant will need to complete and provide the following information:

Proof of Identify Form and verified by Australia Post as outlined here;
Certificate of Title;
Duplicate Certificate of Title if issued (where the real estate is mortgaged the bank must produce the duplicate title);
Form 50TLA – Application by surviving proprietor;
Notice of Acquisition Statutory Declaration Form; and
Registration fees payable.

The complete guidance information and how to complete the forms can be found here.

Queensland (QLD) - Brisbane

Queensland Titles Registry Office

Phone: 13 74 68
Opening Hours: Monday – Friday, 8:30am – 4:30pm AEST
Address: Level 11, 53 Albert Street, Brisbane QLD 4000
Other Offices in the State: Find an office near you here
Post: GPO Box 1401, Brisbane QLD 4001

Commissioner of State Revenue

Phone: 1300 300 734
Opening Hours: Monday – Friday, 8:30am – 4:30pm AWST
Online Enquiry: You can send an email online here
Post: GPO Box 2593, Brisbane Qld 4001

Certificate of Title
It is highly recommended to do a Certificate of Title online while administering the estate. This will allow you to verify the ownership of the real estate before proceeding. The three forms of ownership are:

Sole Ownership – only the deceased person’s name is listed on the title under the registered owner;
Joint Tenants – the deceased person’s and at least one other name are listed on the title under the registered owner and should state “as joint tenants”; and
Tenants in Common – the deceased person’s name and other names are listed on the title under the proprietors and states something to the effect of “as tenants in common”.

Visit the Queensland Government website here to do a Certificate of Title search for real estate registered in Queensland, by completing the information and paying the fee by credit or debit card.

Process
The process for each type of ownership and situation is listed below. You must check if any transfer duty is payable before submitting the relevant and completed documents as outlined below for your circumstances to the QLD Titles Registry Office.

You must complete and lodge with via post with the Commissioner of State Revenue the following:

Form OSR D2.2 – Dutiable transaction statement;

and one of the following:

Certified copy of the Will; or
Certified copy of the Grant of Probate or Letters of Administration.

Proof of Identify (Australian driver’s license or passport);
Original or certified copy of the Death Certificate;
Original Certificate of Title (can be purchased online here);
Form 5 – Transmission Application By Personal Representative; and
Registration fees payable.

Once the real estate is transferred to the deceased estate and the Executor’s or Administrator’s name(s) are on the title you can either –

start with the sale process if this was the intent outlined in the Will or agreed with the Beneficiaries where there is no valid Will; or
transfer the real estate to the appropriate Beneficiaries as outlined in the Will or as per the SUCCESSION ACT 1981 (QLD) (Austl.) (accessed 2/11/2018). This can only be done once all other Steps have been completed to protect you as Executor or Administrator from personal liability claims and is described in Step 34 – Finalise & Distribute the Deceased Estate.

Sole Ownership or Tenants in Common – Executors, Administrator or Next of Kin without Grant of Probate or Letters of Administration – Transfer of Title
For estates where you have not obtained a Grant of Probate or Letters of Administration you will need to complete and provide the following information:

Proof of Identify (Australian driver’s license or passport);
Original or certified copy of the Death Certificate;
Original Certificate of Title (can be purchased online here);
Form 5A – Transmission Application (no grant in Queensland or no Queensland recognised grant); and
Registration fees payable.

Once the real estate is transferred to the deceased estate and the Executor’s or Administrator’s name(s) are on the title you can either –

start with the sale process if this was the intent outlined in the Will or agreed with the Beneficiaries where there is no valid Will; or
transfer the real estate to the appropriate Beneficiaries as outlined in the Will or as per the SUCCESSION ACT 1981 (QLD) (Austl.) (accessed 2/11/2018). This can only be done once all other Steps have been completed to protect you as Executor or Administrator from personal liability claims and is described in Step 34 – Finalise & Distribute the Deceased Estate.

Joint Tenants – Surviving Joint Tenant – Transfer of Title
The surviving joint tenant will need to complete and provide the following information:

Proof of Identify (Australian driver’s license or passport);
Original or certified copy of the Death Certificate;
Original Certificate of Title (can be purchased online here);
Form 4 – Request to record death; and
Registration fees payable

Guidance on how to complete the form can be found here and an example can be found here by clicking on the relevant.

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30.5 Confirm Assets Have Settled in Estate or Trust Accounts

Once all requests for asset transfer or release were made, you should follow up by checking the ‘Estate of Late’ or trust bank account to determine if cash was deposited. If the release was not cash but a real estate, you can search for the title to determine if the owner has changed.

Make sure to keep all receipts of funds deposited, transferred and provided to the estate.

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30.6 Sell Assets Where Required

Where the Will requires an asset to be sold so that the cash can be distributed, you as the Executor, Administrator or Next of Kin can now complete the sales process of those assets.

Note: Make sure to keep evidence of the valuations, advertising and sales contracts to show that you acted in the best interest of the estate and managed to sell at the market rate in case you are questioned later.

Where the Will is silent about selling assets, you should have agreed with the Beneficiaries how the deceased estate is to be best structured as per Step 28.5 – Deceased Estate Structure. You may have agreed to sell some or all assets for cash distribution. You should update the inventory to record sales and cash proceeds.
Alternatively, you may want to discuss with the Beneficiaries how they would like the assets in question to be split and if a sale is needed. Make sure that you and the Beneficiaries seek tax advice, so everyone can make an informed decision.

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30.7 Pay any Outstanding Debts

As outlined in Step 14 – Pay Bills & Other Debts you should have always kept a good eye out for any debts or debt repayments that are due to avoid late payment, additional interest or other charges while you administer the deceased estate.

Now that you have a good understanding of the estate value, if it is solvent or insolvent and funds are being transferred to the ‘Estate of the Late’ or trust bank account, you may want to start making outstanding payments that you had negotiated a deferral earlier. Refer to Step 14 – Pay Bills & Other Debts for further detail.

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30.8 Tax on Estate Assets while in Your Custody

You must remember that as the Executor, Administrator or Next of Kin you are also responsible to manage the taxes of the estate for the duration it is in your custody. More detail is available in Step 32 – Prepare and Lodge Tax Returns.

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30.9 Actions and Decisions to Complete Step

If you would like a little help from us at simplyEstate with this Step, you can email us or book your free first phone appointment. If you would like specialist help, get in touch with one of our Specialist Partners listed in the yellow section to the right or below and see how they can help.

If you have decided to tackle this Step yourself after reading and understanding this Step, you may want to:

Set-up an ‘Estate of the Late’ account if you decided against using a testamentary or post-death trust or where some cash assets will be handled outside of the trust;
Certify copies of the Grant of Probate or Letters of Administration;
Review and finalise necessary documents to submit release, transfer and claims of assets with the relevant organisations;
Complete transfer of land and real estate titles to the estate in preparation for distribution;
Transfer the real estate or title to the surviving joint tenant’s name where real estate was jointly owned;
Monitor and follow-up for pending and outstanding transfers and settlements;
Review the Will to check if any specific assets should be sold;
Decide with the Beneficiaries how the estate should be structured and if some or all assets will be sold;
Pay any outstanding bills or debts that you deferred until now that estate money is available for you to make payments; and
Update the simplyEstate Assets & Liabilities Inventory receipts and disbursements to track in and outgoings of the estate.

Once you have completed all the necessary actions and decisions, you can move on to the next Step by clicking below or save progress at the top.

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