Estate administration is the work of administering a deceased estate.
A simple estate administration generally involves the tasks of locating the assets of the deceased, converting these assets into cash or transferring property into the name of beneficiaries, paying the deceased’s liabilities and tax , and distributing the remainder to the beneficiaries.
Estate administration can also be more complex. For example:
- the full extent of the deceased’s assets is not known, and assets have to be located
- The assets are not in the deceased’s name
- The deceased owned assets overseas and overseas probate is required
- the beneficiaries want to have the estate distributed in different portions
- jointly appointed executor cannot agree on the estate administration process
- shares have to be sold in other countries (e.g. USA where so called Medallions signature is required)
- gifts fail because the will/estate plan was not updated frequently
- the terms of the will are unclear and require interpretation
- there is a dispute about whether the deceased had capacity when signing the will
- the deceased left potentially ‘informal’ wills
- there might be somewhere children of the deceased form a previous relationship
- the beneficiaries cannot be located