Being appointed as an executor comes with important responsibilities. You may need to identify and collect assets, settle debts, manage property, and eventually distribute the estate to beneficiaries.
Where a grant is required, probate confirms the executor’s authority to administer the deceased’s estate. However, not every estate requires probate, and the steps involved can vary depending on the assets and circumstances.
Understanding common mistakes can help executors approach the process more carefully. Probate lawyers in Victoria can also provide guidance when there is uncertainty about the application, the will, or the estate’s administration.
1. Starting the Probate Application Without the Right Information
Beginning an application before gathering the necessary information can lead to avoidable delays.
An executor should first locate the relevant will and any codicils and gather information about the deceased’s assets and liabilities. Details in the probate application should also be consistent with the supporting documents.
If information is missing or questions arise about the estate, additional material may be required before the application can progress.
A probate administration lawyer can assist where an executor is uncertain about the documents or steps involved.
2. Failing to Check the Will Carefully
Finding a signed will does not necessarily mean the executor should immediately proceed with it.
For example, an executor might find a will among the deceased’s personal documents and begin preparing the probate application. A newer will is then located with another document holder.
This can complicate the application and create additional work.
Executors should make appropriate enquiries about the will being relied upon. Codicils, alterations, unusual markings or questions about the document may also require further consideration before an application is made.
3. Assuming Every Estate Requires Probate
Probate is not automatically required whenever someone dies leaving a will.
Whether a grant is necessary can depend on the type and value of the assets, how ownership is structured and the requirements of the organisations holding those assets.
For example, an institution may require a grant before releasing certain assets, while another estate may be capable of being administered without one.
Executors should establish what is required for the particular estate rather than assuming probate is always necessary.
4. Distributing the Estate Too Early
Receiving a grant does not necessarily mean the estate is immediately ready for distribution.
Assets may still need to be collected or transferred, property may need to be dealt with, and other administration tasks may remain outstanding.
Beneficiaries may understandably ask when they will receive their inheritance, but an executor should avoid rushing the process simply to make an early distribution.
An estate administration lawyer can provide guidance where an executor is unsure whether the estate is ready to be distributed.
Example: Property Still Forms Part of the Estate
Suppose an estate includes a property that must be sold before the beneficiaries receive their respective shares.
Distributing most of the available cash before the property and other administration matters are finalised may make the remaining process more difficult to manage.
Need Help With Probate? Get advice about your probate application and responsibilities as an executor.
5. Failing to Keep Clear Estate Records
Estate administration can involve numerous financial transactions.
An executor may receive money on behalf of the estate, pay expenses, manage property costs and make distributions to beneficiaries. Clear records can help explain how estate assets have been managed throughout the process.
For example, if the estate owns a home, the executor may need to deal with insurance, council rates and maintenance costs before the property is transferred or sold.
Keeping invoices, receipts and relevant account records organised can make the administration easier to follow and help address questions that may arise later.
6. Overlooking Estate Debts and Liabilities
This is different from simply distributing the estate too quickly. Executors also need to identify what the estate owes.
There may be outstanding bills, loans, property expenses or other liabilities that need to be considered during administration. An executor should therefore avoid focusing only on the assets available for beneficiaries.
Example: A Debt Is Identified Later
An executor may believe the estate is almost complete, only to discover an outstanding liability that has not yet been addressed.
If most of the estate has already been distributed, dealing with that liability may become more complicated.
Probate legal services can be particularly useful where an estate involves significant liabilities, property, complex assets or uncertainty about what remains outstanding.
7. Waiting Until a Problem Escalates Before Getting Legal Advice
Not every executor needs the same level of assistance. Some estates are straightforward, while others involve unclear provisions in a will, unusual assets, disagreements between beneficiaries or questions about the executor’s responsibilities.
It can be easier to address an issue before important decisions are made.
A consultation with a probate lawyer can help an executor understand the available next steps and identify matters requiring further attention.
VK Lawyers’ probate lawyers in Victoria can assist with probate applications and legal issues arising during estate administration.
Conclusion
Probate and estate administration involve more than completing court documents. Executors may need to identify assets and liabilities, keep appropriate records, manage estate property and determine when the estate is ready for distribution.
VK Lawyers assists executors and families with probate and estate administration matters in Victoria. Our wills and estate lawyers in Victoria can provide advice about the probate process and legal issues that may arise while administering an estate.
Need Assistance With an Estate? Speak with VK Lawyers about probate or your responsibilities as an executor.
Frequently Asked Questions
Does every executor need to apply for probate in Victoria?
No. Whether probate is required can depend on the assets in the estate, how they are held and the requirements of the organisations responsible for releasing or transferring them.
What happens after probate is granted?
The executor can use the grant to deal with relevant estate assets. Administration may then involve collecting or transferring assets, addressing liabilities and eventually distributing the remaining estate according to the will.
Can an executor distribute an estate immediately after probate?
Not necessarily. Other administration matters may still need to be completed before the estate is ready for final distribution.
When should an executor speak with a probate lawyer?
Legal advice may be helpful where there are questions about the will, probate application, estate assets, liabilities, beneficiaries or the executor’s responsibilities.
Can a lawyer assist after probate has been granted?
Yes. Legal assistance can extend beyond the probate application and may include issues arising throughout the administration and distribution of the estate.
Disclaimer: This article provides general information only and does not constitute legal advice. Individual circumstances can vary, and legal advice should be obtained for your specific situation.