I am regularly contacted by clients facing pressure from relatives and beneficiaries of a deceased Estate to distribute the assets of the Estate as soon as possible.
Due to this pressure, some clients believe that as soon as they obtain a Grant of Probate or Letters of Administration of a deceased Estate, they must immediately distribute the Estate in accordance with the Deceased’s will, or if there is no Will, in accordance with the Succession Act 1981 (Qld).
Distributing an Estate in haste, and without obtaining proper legal advice, can potentially result in the Executor or Administrator becoming personally liable for some of the transactions they perform.
It is important that before distributing an Estate, the Executor or Administrator considers:
It is important that any person that is acting as an Executor or Administrator of an Estate considers the above prior to distributing a deceased Estate, and obtains legal advice in relation to the above issues.
If you are facing pressure from relatives or beneficiaries to distribute a deceased Estate, or if you have any questions regarding issues surrounding the distribution or proposed distribution of a deceased Estate, please do not hesitate to contact me.