Estate administration assistance for executors – by Exec Assist
Our associated company – Exec Assist Pty Ltd – provides estate administration assistance for executors. First-time appointees to the role of executor of a deceased estate are often perplexed as to where to start. This service commenced in late 2012. It grew out of the experience we have had working with estates of our own families initially. Client requests, and working with lawyers helping their clients ‘caught up’ in the administrative process of these appointments continue to drive this business.
Firstly a brief story –
John’s appointment as Executor
When John was told by his parents that he was their choice for nomination in their Wills as the Executor of their respective Estates during their Estate Planning process he accepted the news without a great deal of thought or concern – after all, they were in good health and the likelihood of having to undertake the role in foreseeable future was remote. When his father passed away a couple of years later, he was reminded of his appointment. John understood the significance of the appointment and what it would mean to his mother to have a family member attend to the estate issues. She was averse to ‘strangers’ being involved in personal family matters. And she was particularly averse to those who, rightly or wrongly, had a reputation for high costs! Nevertheless, he was quite concerned about his lack of awareness as to what procedures and obligations he would face.
John’s next steps
John researched the situation he was in. He found that he was restricted to three options to help him perform his role:
- Approach a solicitor. Apart from the drawing of the estate plan, the family had no connection with a legal firm for many years. Accordingly, he saw the choice of a legal firm as being another difficulty.
- Consult with the Public Trustee. The thought of putting his parent’s affairs in the hands of such a huge institution concerned him. And the the cost of doing so, concerned his mother; or
- Seek the assistance of his parent’s financial planner in dealing with the issues.
Accessing estate administration services from Exec Assist
Exec Assist Pty Ltd is a subsidiary company to Continuum Financial Planners Pty Ltd. It provides this service in response to enquiry from clients appointed as Executor and/ or Trustee of an Estate. Their nomination may have been by a loved one (parents, partners and other family) or a friend or colleague – and who has since passed. If you find yourself in this situation, contact us to discuss how we might be able to assist. Our service includes a range of issues from application for Grant of Probate, attending transfers of property/ investments etc (including any relevant CGT calculations), accounting for estate transactions or distributing bequests etc. It is complementary to the Estate Planning service we have always provided.
You can avail yourself of the ExecAssist service. Call our office (on 07-34213456) or use the ContinuumFP Book A Meeting link to make an appointment with our Director.
(First published in February 2013, this article has been occasionally refreshed/ updated, most recently in July 2024.)
