• Deceased Estates & Probate •
Dealing with the loss of a loved one is difficult and upsetting. At Elsworthy's we understand this and do all we can to assist you at this time.
Firstly, we need to locate and obtain the original Will of the deceased. This helps establish the Executor's and Beneficiaries of the Will. If it can not be found, we will discuss Administration of the Estate.
We also need to obtain the original Death Certificate from the Registry of Births, Deaths and Marriages.
We request information from the Executor/s as to the existence of all assets and liabilities held by the deceased both in their sole name and, if applicable, jointly with another person. This could include property, cars, savings accounts, furniture, jewellery, shares and other investments, insurance policies and superannuation.
On the Executors behalf, we contact and notify all the banks, building societies, credit unions and insurance companies of the date of death and request full details of all accounts, shares and policies. We request details of their requirements for the release of the funds or the transfer of these funds into the Beneficiaries names. If the Estate is to be divided between a number of Beneficiaries, the assets may need to be valued.
It may be necessary to apply to the Supreme Court for a Grant of Probate, which is an order saying that the Will is valid and that the Exectutor has the right to administer the Estate. A notice stating that we are making an application to the Court needs to be published in the local newspaper. A copy of this is included in the application for Probate.
When applying for Probate, the Executor/s will need to attend our office to complete a number of forms which are prepared by us, including an Affidavit of Executors, Inventory of Property and Summons for Probate. These documents provide, among other things, evidence of death, details of assets and liabilities and proof of proper completion of the Will to the Court. A filing fee is payable to the Supreme Court upon lodgement of the application. The amount of the fee is dependent upon the value of the Estate.
Once the Grant of Probate has been obtained from the Supreme Court, it is then necessary to advertise in the local newspaper that distribution of the Estate is going to take place. This enables anyone with a claim against the Estate to provide particulars of the claim.
We will then write to all the necessary banks, building societies, credit unions and insurance companies for release of proceeds of accounts and shares.
If required, a Transmission Application or Notice of Death is prepared and lodged at the Land and Property Information Office along with the Title Deed to transfer the house from the deceased's name.
Once debts have been paid, we reimburse the Executors for any personal expenses that they may have incurred in administering the Estate.
We then attend to the final distribution of funds held in our Trust Account in accordance with the Will, including payment of our Tax Invoice. We send a copy of our Tax Invoice and Statement of Distribution to the Executors for approval before distributing the funds.
Once approved, a letter is then sent to each Beneficiary asking them to attend our office to receive their distribution cheque or we organise to deposit their funds directly in their bank account. A Beneficiaries Receipt is signed and filed and this completes the matter.
The estimated finalisation date for your matter is approximately 3-6 months, depending on the assets involved and whether or not there is a Will.
In matters where the full scope of the work you ask us to attend to is not known at the outset, we charge on an hourly basis.
We have chosen a minimum three-minute unit of time, as a commercially practical unit, given that serving you properly involves us making notes of even short activities, filing and recording details.
- Time spent by the Principal of the firm for work requiring the skill of a solicitor at a rate of $240.00 per hour.
- Time spent by an employed solicitor for work requiring the skill of a solicitor at a rate of $180.00 per hour.
- Time spent by legal assistants for work not requiring the skill of a solicitor at the rate of $120.00 or $80.00 per hour depending on the skill required.
- Photocopies at the rate of $1.00 per page.
- Facsimiles at the rate of $1.00 per page.
We ask that you pay into the firm's Trust Account the 'Initial Advance' of $1000.00 (cash or cheque only) on account of future costs and disbursements. The firm may request further advances throughout the matter.
If the firm's costs and disbursements do not exceed the total amount of the advance, the firm will, upon completion of the matter, promptly refund the balance of the advance to you.
If you would like us to assist you, or you require further information,
call us on 02 4969 1800 to make an appointment.