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Estates

Devenish Lawyers act on behalf of executors or administrators in administering estates, obtaining grants of Probate and Letters of Administration in the Supreme Court of Victoria Probate Jurisdiction.

GRANTS OF PROBATE

If the deceased had a Will and owns a property solely or as tenant in common, holds a refundable accommodation deposit (RAD) or has assets such as shares and investments worth more than $100,000, then Devenish Lawyers will act on behalf of the executors to obtain a Grant of Probate in the Supreme Court of Victoria so that the deceased’s assets may be redeemed, sold or transferred.

GRANTS OF LETTERS OF ADMINISTRATION

If the deceased dies without a valid Will then the next-of-kin or an appropriate person may apply for a grant of Letters of Administration in the Supreme Court of Victoria, to deal with the deceased’s assets.

This is called ‘dying intestate’.  The Administration and Probate Act 1958 sets out a formula that stipulates the beneficiaries of the intestate Estate.

The role of the executor or administrator

Attending to funeral arrangements;
Notifying any financial institutions or other relevant organisations of the person’s death;
Ascertaining the size of the estate and taking control of all assets;
Obtaining a Grant of Probate or Letters of Administration if required;
Redeeming, transferring or selling estate assets;
Resolving all estate disputes and attending to payment of all liabilities;
Finalisation of all taxation affairs of the deceased and the estate;
Distributing assets to the beneficiaries; and
Investing or managing assets to be held on behalf of beneficiaries.
Liability limited by a scheme approved under Professional Standards Legislation.