- The role of the Executor and Trustee under the Will. In short, the Executor/Administrator will need to:
(i) Obtain probate for the administration of the estate (which allows the Executor/ Administrator to administer and distribute the estate pursuant to the Will).
(ii) Arrange to obtain the most recent Will of the deceased.
(iii) Make a list of all beneficiaries to this Will.
(iv) Determine if there are any unpaid debts left by the deceased.
(v) Close all accounts of the deceased including banks, share registers, Kiwisaver provider, utility providers.
(vi) Arrange for any unpaid tax of the deceased to be paid.
- Court Applications for the Probate of the Will.
- The process of administration of an estate in the event that the deceased dies without having a valid Will i.e dies intestate. If you do not have a valid Will in place when you die, this means that your property and possessions are distributed by the Government in accordance with the Administration Act 1969, as you have passed intestate.
For information as to issues and claims that can arise with Estates, see Estate Issues below.