With death a person’s property and assets come in to question. If there is a will then it will dictate what should happen to the assets, who should inherit them and so on. However there are some cases where there might not be a will too. Check this website to find out more details.
A will usually indicates a representative to handle all matters relating to the dead persons’ assets and property. This is usually an executor or an administrator appointed by court. Letters of administration are required for them to formally begin work and they are usually held responsible for the following;
- Making sure the properties and assets are well taken care of and maintained. This might include houses, vehicles and even art. If there is money involved then investing them also becomes a responsibility.
- Giving away the assets to the relevant individuals as stipulated in the will.
- Debt settlements and paying for the funeral expenses also becomes a responsibility of the representative. Sometimes, if there is no money left, property and assets will have to be liquidated to make provisions.
- Getting a probate for the estate.
As in most cases, the executor will not have the necessary skill or the resources to manage the estate and administer it as well. Therefore he or she will have to rely on deceased estate lawyers Perth to carry out the tasks that are required. Some of the common areas they will need help on are;
- Applying for a probate on the estate.
- Giving advice on tax and tax related matters.
- Getting details of the assets in question.
- Providing information on how debt should be settled if any and how distribution of the balance assets should take place.
In some situations you will find individuals passing on without leaving a will. In such cases a family member or a known party will apply to be an administrator. In such instances it is paramount that the person representing the assets works with a lawyer in distributing the assets among the beneficiaries.
When it comes to property, the lawyer directly deals with the executor. Therefore he or she will only deal with this person when it comes to handling the assets and distribution. The lawyer’s role therefore is to help the executor do his duties according to the law. Usually a will mentions the fees that are meant to be paid to the executor, however if no such clause is present then he or she can apply to the courts for reimbursements to be made.