Guide To Managing A Deceased Estate

If it’s one thing to lose a loved one, it’s another thing to deal with the deceased estate. It takes a toll on you emotionally and physically leaving you drained and exhausted. During the grieving time, you need to stay strong and deal with organising the financial affairs of your beloved deceased one. It can be overwhelming yet it’s essential to say a proper goodbye to your loved one.

If you are first time executing the whole process of dealing with a deceased estate, you will be clueless about what to do, especially when you are still grieving. You have to tackle things in a logical, organised and chronological order to ensure there are no errors caused in the process.

Here's a brief guide for you to handle things in order when dealing with a deceased estate process:

Get a grant of probate

A Grant of Probate is issued by the Supreme Court which is a document that gives authority to the executor to act upon the will left by the deceased. Having this document means you have the right to deal with certain assets such as real estate and bank accounts.

When the probate is granted, you can now redeem and collect the assets, debts and liabilities. Only after receiving the grant you are authorised to act on any legal issues concerning deceased estates.

Notify service providers and payees

The deceased person might have a range of service providers including bank accounts, mobile plans, a driver’s license, gas and water providers, debts, superannuation funds and many more.

Make a list of all the providers, including the smaller ones like magazine subscriptions and sponsor child payments. Inform each provider about the news and work with that person for the cancellation process. To deal with bank situations, you will need to show the will or grant of probate. The banks will then release funds for funeral and estate expenses. 

Arrange the funeral

You may have to execute this step even before contacting the service providers depending on the emergency. It’s your duty as an executor to make funeral arrangements as per the instructions mentioned in the will. It will let you get clarity on things like whether the body is to be buried or cremated and who should be informed (friends, family and colleagues) about the funeral service.

You are also not alone during the process – the funeral director will help you in areas such as music options, body preparation, casket options, catering, floral arrangements and many more. The director will also give you services like notice of death, notice of funeral and apply for the death certificate.

Hire the necessary services like compassionate cleaners, legal practitioners, and so on

During the emotional period when you have to deal with a deceased estate and funeral arrangements, it will be reassuring to hire professionals for necessary services like deceased estate cleaning and legal practitioners. They will guide you in applying for probate, dealing with legal documents and notifying beneficiaries. You can also seek help from financial advisers to deal with property assets, etc.

Every task in managing the deceased estate should be done with proper care. A single mistake could make you regret your decision later, so it’s important to hire professionals and seek support from your loved ones to stay on top of your mind. A reliable professional will be able to orchestrate the process very efficiently.

Tax and super information

Filing the taxes of the deceased person is also an essential task that you need to do. Understand if the date of death is required to file taxes and then learn the process of lodging and work out who can receive the refund.

Final Thoughts

Dealing with the properties and arrangements of a deceased person is an emotionally challenging process. Seeking essential help and hiring professionals to deal with important things will lessen the burden for you. You can allocate more time for grieving and prepare to say goodbye to your loved one. You can also offer your support to the family and friends and be part of their emotional journey.