What is a deceased estate?
A deceased estate is the estate (things owned and owed) of someone who has passed away. A deceased estate includes:
- real estate, such as a house or land
- bank accounts and investments
- motor vehicles
- personal belongings
- life insurance policies and superannuation
- debts, such as mortgages, taxes and bills.
What is a Death Certificate?
A NSW standard Death Certificate is the official certified copy of registration data held by the NSW Registry of Births, Deaths and Marriages. This is the official record of death.
What is a Will?
A will is a legal record of what someone wants to happen to their assets after their death. A will should include details of the executor(s). It is the responsibility of the executor(s) to manage the disposal of the estate within the terms of the will, including applying for probate.
What is an executor?
Executors are appointed in a Will and may be a person or an organisation such as NSW Trustee and Guardian. The role of the executor is to administer the estate (things owned and owed by the deceased) and to carry out the instructions in the Will, after someone has passed away. A Will may appoint a sole executor (one person or organisation), or multiple executors.
What is the difference between an executor and administrator?
Depending on whether there is a valid Will or not will determine the role:
- if there is a Will, the executor is named in the Will (the executor is formally appointed to the role by applying to the Supreme Court of NSW and being granted probate of the Will after the death)
- if there isn't a Will, the court will appoint an administrator for the estate
- if there is a Will but the executor has passed away or can't take on the role, the court will appoint an administrator.
What is a Probate, or Grant of Probate?
A Probate is a court order granted by the Supreme Court of NSW. It confirms the Will is valid, and that the executor has permission to distribute the estate. Some estates do not need to go through the probate process. Generally, an executor will need to apply for a Grant of Probate if:
- the assets are owned solely by the person that has died
- assets are over a certain amount.
They will not need to apply for a Grant of Probate if:
- all assets are shared with a single person
- the total amount of assets doesn't exceed a certain amount.
Shared assets means that the asset (house, bank accounts, or shares, for example) are jointly owned. This is often the case for people who have been married. Individuals should obtain legal advice to determine if they need to apply for probate.
What are Letters of Administration?
When a person dies without a Will, an application needs to be made to the Supreme Court of NSW for Letters of Administration – a document providing the court’s formal approval for someone to administer the estate of the deceased. The Letters of Administration will appoint Legal Personal Representative(s) (LPR) who are responsible for administering the estate.
What is a Legal Personal Representative?
Legal Personal Representative is the term used to describe the person appointed to manage the assets of the deceased and are either the executor or administrator. Where there was no valid Will and the Court has granted letters of administration, they will appoint a Legal Personal Representative who is responsible for administering the estate.
What are considered certified documents?
A certified copy of a document is a photocopy of the original document that has been certified as a true copy of the original by an authorised certifier (for example, a Justice of the Peace).
The certification must be on each page of the document and accompanied by the certifier’s signature, full name, profession, registration number (if applicable) and date.
Certified documents must be posted, as an email or scanned document is only a copy of a certified copy. Certified copies of documents may be requested for contentious matters, and for loans depending as required.
What information do I need to provide the RAA?
The executor or legal representative will need to complete and return a Notification of Death Form.
In addition, we will require certified copies of the Death Certificate, Will, Grant of Probate or Letters of Administration, if and when available. The RAA may request additional documentation depending on the entity type or business structure (for example, a trust deed or partnership agreement).
Once this information has been received, we will contact the executor or legal representative to discuss the next steps as there may be implications regarding any open or current loan and grant programs.
Who can contact the RAA to discuss a deceased estate?
The Will nominates an executor or executors to carry out the instructions in the Will. If there is no Will, the Supreme Court issues letters of administration which allows an administrator to manage the deceased estate. The RAA can only discuss grant or loan applications relating to a deceased estate with the executor or Legal Personal Representative, as confirmed via the Will, Probate or Letters of Administration.