Deceased Estates Administration Services Perth

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20/11/2013 20:45

Deceased Estate Administration: How to Handle Bills and Debts

Handling the bills is one of the important and time-consuming, even stressful parts of deceased estate administration. But these tips and guidelines can help: 

 

  • The surviving spouse may be personally responsible for the decedent's debts. This still depends on the state law. If you're a surviving spouse, it's best to consult with your attorney regarding whether and to what extent you must settle the bills of your spouse. 

 

  • If you're not the surviving spouse, don't pay the billls from your own funds, otherwise you may be deemed to have assumed the liability for paying the decedent's debt.

 

  • Legitimate bills must be paid from the account of the deceased, and such payment must be made only by a peron who's authorize to make decisions, such as the Executor or Will or Trustee. Forward the bills to him, or if no one is serving as the Executor or Trustee yet, temporarily hold the bills without settling them until there's a person appointed.

 

  • It's the job od the Executor or Trustee to identify which bills are legitimate, to accept or reject claims of creditors, and to fulfill the notification requirements of creditors. The Executor or Trustee must legal counsel regarding the accomplishment of these tasks, because failure to fulfill the legal requirements can put him liable.

 

20/11/2013 19:33

Initial Tasks Involved in Deceased Estate Administration

Handling the estate of a deceased begins with the following practical tasks: 

 

Determine Who the Executor of Will or Trustee is

If you can't determine who's been appointed or the appointment by the trust or Last Will and Testament is not clear, consult with an attorney.  

 

Arrange for Temporary Care for Minor Children and Other Dependents

Your initial task is to set up a temporary care of the decedent's minor children and other dependents. You may have to look into day care, pet care services, or hospice for temporary assistance, until a longer-range solution is found.

 

Get Certified Copies of the Death Certificate

You'll need certified certificates for several purposes, so it is a good idea to obtain plenty of copies. 

 

Locate a Last Will and Testament or Trust

Look for a trust, will, or any other vital after-death documents.

 

Collect Mails

Collecting the mail of the deceased protects his privacy. Also, it serves as a vital administrative function. The decedent's mail will help you identify his property, since account statements and other important documents relating to his property will arrive through mail. All bills will arrive through mail as well. These will help you identify potential creditors. 

 

Pay the Bills

After the death of the person, bills will continue to arrive for the expenses incurred during his lifetime. These may include credit card statements, medical bills, utility and mobile phone bills, insrance premiums, tax bills, invoices for mortgage payments, and others.   

  

Get legal assistance in deceased estate administration Perth. Visit the website of Estate Administration Services to getvaluable information.  

 

 

 

20/11/2013 18:05

Estate Administration: On Minors and Dependent Adults

 

Guardian of the Person

If the deceased left minor children, and the spouse is no longer alive, the Court will appoint a guardian for the children. The guardian is the one who's granted physical custody of the kids and is reponsible for their upbringing and care until they reach the age of 18.

 

Nomination of Guardian by The Person Who Died

If the individual left a Last Will and Testament, check whether it is has a nomination of guardian, which is the expressed wish of the parent for who should take custody of his children, in the event that both parents die. Typically, when appointing a guardian, courts place much weight on the parent's wishes. But their wishes won't necesarily be determinative. The court may appoint a different individual if it believes that doing so would be the best for the children. 

 

Assets of Minors

If both parents died, their minor kids will also likely be the heirs to their properties. However, as minors, they can't manage their own assets legally. If the parents have left the propertioes to their children in a trust, the Trustee will be in charge of the management of the assets for the minors, under the Trust's terms. In the absence of a Trust, most likely the Court will establish the estate's guardianship.  The estate's guardian is responsible for the management of the minor's assets until the age of 18. 

 

Dependent Adults

If the individual who died had an elder parent or another dependent adult, check whether he has a living trust or a general durable power of attorney. If so, the affairs of the dependent adult must be handled by his trustee or agent. Contact the trustee or the agent, and contact the attorney of the adult, and inform them of the death of the person. If there's no trust or power of attorney, the Court may need to establish a conservatorship for the dependent adult. This is similar to guardianship, except that the one involved is an incapacitated adult, not a minor child. The conservatorship will grant the conservator authority over the physical care and financial needs of the adult. 

 

If you need help with this subject matter, seek reliable deceased estate administration services. Visit Estate Administration Services to learn more: https://www.estateadmin.com.au/wills-and-probate-perth-wa/.

 

 

 

 

20/11/2013 16:54

Deceased Estates: A Guide to Digital Property

 

deceased estatesWith so much of people's lives online, digital property is now becoming an increasingly vital aspect of planning and settling of deceased estates, just like physical property. When a person dies, his online accounts, including social media accounts email, will continue on unless otherwise dealth with.

 

Digital Estate Services 

The deceased may have indicated his wishes in his Last Will and Testament about his digital property. He may have also used online services. Some companies allow the creation of a "digital safety deposit box" with all of a person's account could be stored in one place, and beneficiaries listed for every account. Whoever the individual named as the "verifier" will be asked to verify the death, and the beneficiaries will receive a notification.     

 

If there were no arrangements made about digital property, or if you can't find out if there were, you may still be able to delete or access online accounts. Presently, Hotmail and Gmail will mail the information of the person to the estate holder. Facebook won't access to accounts, but if you contact them, you could request that the profile of the person be deleted or turned into a memorial page. 

 

If you have more questions about estate administration, watch the video below or visit the website of Estate Administration Services. You could also follow this link to learn more about deceased estates

20/11/2013 15:23

Deceased Estate Administration: Tips and Guidelines Regarding Insurances

 

What insurance policies (if any) of the deceased must be kept in effect following his death? 

 

deceased estate administrationAuto Insurance

You have to take into consideration maintaining the vehicle's insurance policy if rates are favorable. Most automobile insurance firms will continue covering the car as well as the new legal owner at the same rate under the insurance agreement's permissive use clause. Alternatively, if the vehicle will lay idle during the period of administration, or if it will be sold, you could consider registering the automobile for "planned non-operation" and cancelling the insurance policy. This will help you save espenses for the Estate.

 

Homeowners and Renters Insurance

You must maintain the homeowners and renters insurance policies, as long as the property remains in the Trust or Estate, to protect the Trust and Estate assets in case of lawsuits or property damage. Cancelling the insurance coverage can actually expose the Trustee or Executor to breach of fiduciary duty or liability, if lawsuits or property damage deplete the assets due to lapsed insurance coverage. The Executor of Will must inform the insurance company regarding the death in writing and request that the Estate be added to the insurance policy as a "named insured" immediately, in order to secure the same rights as the individual who died. 

 

Health Insurance

If a person who died received employer health insurance, surviving dependents and spouses will be eligible for continued coverage after his death, if they were covered originally. You could contact the employer of the insurance company in order to remove the individual from coverage, while continuing coverage under the existing policy for qualified members of the family.

 

If you need professional assistance on deceased estate administration, visit the website of Estate Administration Services

 

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