Last Will & Testament of Diana, Princess of Wales
I DIANA PRINCESS OF WALES of Kensington Palace London W8 HEREBY REVOKE all former Wills and testamentary dispositions made by me AND DECLARE this to be my last Will which I make this First day Of June One thousand nine hundred and ninety three 1 I APPOINT my mother THE HONOURABLE MRS FRANCES RUTH SHAND KYDD ...
Our Legal Fees & Services
At GMH Legal we believe that client relationships matter more than time sheets which is why we offer a range of alternative fee arrangements to best suit your needs. Our focus is on client service and establishing mutually rewarding relationships with our clients. We think that billing by the hour does not ...
Will says daughter’s share is worth half her brothers
The ACT Supreme Court has overturned a will created on the basis that “one boy is equal to two girls” and therefore sons should get double the inheritance of daughters. Fatama Omari challenged the legitimacy of the will of her mother, Canberra woman Mariem Omari, saying she had not known what she was doing when ...
General Principles of Wills
A will is a written document in which you state how you want your property distributed after you die. A person who makes a will is called a "testator". It also allows you to nominate an executor, who is the person responsible for making sure your wishes are met. What Happens If I Die Without A Will? If you di...
Elements of a Testamentary Trust
Testamentary trusts are created in a will by a testator who bequeaths his or her property for the benefit of others called the beneficiaries. Testamentary trusts can either be express or non-express, but if a will is properly created, a testator’s intentions can be inferred from the terms of the will. By creati...
The Traps of a Granny Flat Accommodation
When the elderly decide to live in a ‘granny flat’ near their children, they sometimes fail to take account of the risks of such a move. They also sometimes fail to consider the unforeseen outcomes of personal relationships and personal challenges which ill health, financial difficulty and ultimately death th...
Acting as an Executor can be a confusing and stressful experience. We’ve been helping Executors manage their duties and understand that it’s a very tough and emotional time for everyone involved. Which is why do our best to make the entire process as stress-free and smooth as possible.
What the estate comprises
The property and assets belonging to a person who has died, called their deceased estate, may include real estate, money in bank accounts, shares, and personal possessions. Some types of income can also form part of the deceased estate. However, some assets will not be included because the deceased may have made other arrangements to distribute them or own the assets as a joint tenant.
The deceased estate holds the assets of the deceased in trust from the time of the death of the person concerned until the transfer of the property and assets to their beneficiaries as nominated in their will. It is administered by either:
- an executor appointed in the person’s will, or
- an administrator appointed by the Supreme Court.
Being an executor
If you have been appointed as an executor or administrator of the estate, you will be responsible for managing the deceased estate’s tax affairs, as well as:
- carrying out (executing) the terms of the deceased person’s will
- complying with the relevant inheritance laws, where there is no will.
The executor or administrator (this information applies equally to both) is responsible for administering the deceased estate in the best interest of the beneficiaries nominated in the will (or if no will exists, the deceased person’s next of kin or other person according to a state or territory law).
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