What is that?
Testators appoint Executors in family Wills, often on the basis of their trust in the appointee. Some find themselves ill-equipped to manage the various responsibilities that come with that appointment. Our estate administration service lightens that burden.
Estate administration requirements have similarities to the maintenance of a trust account. Record-keeping is an important element of the process. Appointment as Executor of an Estate is often a ‘once in a lifetime’ situation. The appointee usually has no preparation for the responsibilities of the role.
An estate administration service provides support for the executor, ensuring that –
- they properly perform their entrusted function – and
- are alert to situations requiring engagement of specialists, particularly lawyers, with experience in the field.
Estate administration does not include the custodial responsibilities (which remain in the hands of and control by, the appointed Executor). It does however, include accounting for any financial transactions undertaken in the custodial process.
In the service offered through our associated company, Exec Assist Pty Ltd, we are able to –
- provide guidance and advice to the executor, as to
- what requires attention, and,
- where required, undertake some roles on their behalf.
Once we confirm that the appointing Will is both –
- valid, and
- the most recent by the Testator,
we can offer services including –
- attend to application for the Grant of Probate,
- arrange the requisite advertising,
- follow up on the correct identification of nominated beneficiaries,
- track down and document the relevant assets, and
- provide guidance on completing the wishes of the deceased.
What does it cost?
There are a number of providers of such services. Most of these are based around legal firms or trustee companies. Because of the qualification and experience of the people involved in the work, these services can be quite expensive. Some charge ‘professional’ hourly rates, regardless of the simplicity of the task undertaken. Others charge a percentage of the estate asset value, regardless of how much time is taken to perform the role.
Exec Assist Pty Ltd provides administration services to Executors. Our team of advisers have personal experience in the role as Executor. They have been providing this service to clients since 2002.
Members of oiur team have –
- accounting background, and/ or
- financial planning experience.
Our team is well placed to provide the services required for most estate administration engagements.
Where your estate administration complexities require it, we are connected to a network of estate management specialists to whom we can refer those aspects of the administration for attention. Our service in this way, significantly reduces the overall cost of the estate administration, leaving more for distribution to the nominated beneficiaries.
The three key areas that our clients tell us they find helpful are –
- a certainty about the starting point;
- efficiency – and empathetic understanding – in the process; and
- cost-effectiveness.
Exec Assist Pty Ltd – ‘estate administration services for executors’
If you – or anyone you know – suddenly find you/ they have responsibility for the administration of the Estate of a deceased relative or friend as the appointed Executor, this service is designed to take the confusion out of the process, particularly at a time of grief and sadness. The Exec Assist team is part of the Continuum Financial Planners Pty Ltd team.
To make an appointment with a relevant member of our team –
- phone our office, on 07 34213456,; or
- at your convenience, use the linked Book A Meeting facility.
(This article was originally posted by us in August 2013. We occasionally refresh/ update it, most recently in August 2025.)