FREE BOOKLET

WHAT IS PROBATE?

This booklet will help you to understand what Probate is, how it works and how Kingston Lawyers can give you the peace of mind, by handling the entire process for you.

DC. 20110824

ACN: 150 824 678

ABN: 98 150 824 678

OFFICE LOCATIONS:

5/45 William Street

Melbourne, Vic, 3000

AND

8 Station Road

Cheltenham, Vic. 3192

TELEPHONE

(03) 9585 - 6455

FACSIMILE

(03) 9585 - 6544

E-MAIL

admin@kingstonlawyers.com.au

WEBSITE

www.kingstonlawyers.com.au

2

TABLE OF CONTENTS

1. WHAT IS PROBATE? .................................................................................................................. 4

2. APPLICATION FOR A GRANT OF PROBATE ............................................................................... 4

3. DYING WITHOUT A WILL .......................................................................................................... 5

4. IS PROBATE OF A WILL ALWAYS REQUIRED? ........................................................................... 6

5. SMALL ESTATES ........................................................................................................................ 7

6. DUTIES OF EXECUTORS ............................................................................................................. 7

7. LIFE ASSURANCE AND SUPERANNUATION ............................................................................... 8

8. THE ROLE OF THE SOLICITOR .................................................................................................... 9

9. DEATH DUTIES .......................................................................................................................... 9

10. ADVERTISING NOTICES TO CREDITORS AND OTHERS ............................................................... 9

11. EXECUTOR’S COMMISSION ..................................................................................................... 10

12. CLAIMS AGAINST THE ESTATE................................................................................................. 11

13. CAPITAL GAINS TAX ................................................................................................................ 11

14. INCOME TAX ........................................................................................................................... 13

15. LEGAL COSTS AND EXECUTOR COMMISSION ......................................................................... 14

16. QUESTIONAIRE – PROBATE DATA INFORMATION .................................................................. 15

3

We would like to offer our deepest condolences on the recent

loss of your loved one.

We can appreciate that at a time like this, matters to do

with their estate can be very confusing, frustrating, confronting and the very

last thing you want to discuss.

This booklet has been created for you, to help you understand the process and

the different facets of Probate that need to be coordinated over the coming

months.

Now reading this information will come as a bit of a whirlwind, and we

completely understand this. Our firm are able to handle your Probate with the

utmost sensitivity and professionalism, managing the entire processes on your

behalf, swiftly; so you don’t have to worry.

Should you wish to move forward with Probate through Kingston Lawyers,

all you have to do is complete the information at the back of this booklet and

send it back to us.

We would be more than happy to sit with you and discuss the information in

this booklet and your personal situation further, should you choose.

We trust we can be of assistance in helping you with this very difficult

transition

Yours faithfully,

Stephen Lucas

LLB(Hons) M.A.I.C.D.

Principal Director

4

1. WHAT IS PROBATE?

1.1 Probate is derived from Latin words meaning a “thing proved” or the

verb “prove”.

1.2

In particular the word Probate is used to describe the official verifying

of a will or the document which certifies to that official verifying

process.

1.3

You will appreciate that when a person dies leaving a will which seeks

to dispose of that deceased person’s assets, in general there needs to

be an official procedure to confirm that the particular will is a properly

made and acceptable will of that deceased person and that the

executors named in the will as the persons having the rights and

obligations to deal with the assets of the deceased have been properly

appointed and are willing to act as executors.

1.4 The actual process of formally verifying the will is a function of the

Supreme Court of Victoria but generally speaking the process is dealt

with in an administrative manner by the official known as the Registrar

of Probates and that person’s staff. It is only on the rare occasions

when there is a serious difficulty about the will encountered during the

consideration of the will that the question of its validity may be

referred by the Registrar to the Supreme Court for adjudication or if

there is a claim made on the Will.

2. APPLICATION FOR A GRANT OF PROBATE

2.1 The executors named in the will of a deceased person are required to

complete a formal application to the Supreme Court for a Grant of

Probate of the will of the deceased as soon as possible.

2.2 The executors will normally engage a solicitor to prepare the documents

involved in the application for Probate. In addition, the estate solicitor

will assist the executors in realising the assets of the deceased in such

ways as closing bank accounts, arranging for the sale of shares,

5

transferring real estate to beneficiaries or attending to the sale of real

estate.

2.3 The first step in the process of applying for Probate is the insertion of

an advertisement with the Supreme Court indicating an intention by

the executors to apply for Probate of that Will.

2.4 After details of all assets and liabilities of the deceased are clearly

established, the solicitor will prepare all documents and lodge them

with the Registrar of Probates accompanied by payment of the amount

of a Government charge. *

2.5 At the time of lodging the application the solicitor will effect various

required searches of Government Registers (among other things to

ensure that an earlier application has not been made in relation to the

same deceased person in relation to another will not known about by

the executors in the present application).

2.7 The formal granting of Probate and the issue of the document of

certification normally takes only a matter of some days after the

documents of application are lodged. The actual document of

certification (with a copy of the will attached) is issued on old style

parchment paper and is known as the Probate Parchment.

2.6 In dealing with assets of the deceased the executors will be required to

provide certified copies of the Probate Parchment certified as copies

by the estate solicitors.

* At July 2016, the charge was $313.70 which is payable to the

Supreme Court.

3. DYING WITHOUT A WILL

3.1 If a person dies leaving assets but a valid will made by that person

cannot be found, the relevant procedure to be followed is called an

Application for Letters of Administration.

6

3.2 A similar procedure is required where there is a will but no executor has

been properly appointed in the will or all of the named executors have died

before the deceased person whose will it is sought to prove (verify). The

process is then called an Application for Letters of Administration with the

Will Annexed.

3.3 The procedure involved in an application for Letters of Administration

is more complex and more costly than an Application for Probate of a

Will.

3.4 If a person dies without leaving a will the assets of the deceased person

will be dealt with in accordance with provisions as to disposal set out

in legislation of which the more noteworthy aspects are as follows:

If a person dies without leaving a will, the assets of that person will pass as

follows:

If the person leaves relatives as

follows:

The assets will be distributed as follows:

1 Spouse and no children All to spouse

2 Spouse and children (a) Personal chattels to spouse

(b) If estate worth less

than $100,000 all to spouse

(c) If estate worth more

than $100,000 spouse receives:

(i) $100,000 plus

(ii) Interest plus

(iii) One-third of balance and

(d) Two-thirds of balance to children

3 No spouse, no children (and no

children deceased at an earlier time) but father and mother

Equally between father and mother

4 No spouse, no children, no mother

but father or mother only

To the father or mother as the case may be

7

5 Next of kin in equal degree (e.g

brothers and sisters)

To brothers and sisters

6 No next of kin beyond brothers and

sisters’ children

To The Government

3.5 In the case of an Application for Letters of Administration it may be

necessary to provide a guarantee or an insurance bond to guarantee the

due administration of the estate by the executors. If an insurance bond

is required, a fee must be paid to obtain it.

3.6 Domestic Partners

Legislation was introduced during 2001 to alter the entitlements of a

person to participate in the estates of deceased persons who die without

leaving a will with particular effect in the case of same sex

relationships and de facto relationships.

The legislation speaks now of persons who were “domestic partners”

of the deceased and provides that where a domestic partner of the

deceased had lived with the deceased for two years or more, or is the

parent of a child of the deceased, then the domestic partner will take

the “spouse’s share”.

Additional provisions cover the situations where the deceased had both

a domestic partner and a spouse.

These provisions are complex and at the very least provide another

compelling reason for people in such relationships to be sure to leave

a valid will.

4. IS PROBATE OF A WILL ALWAYS REQUIRED?

4.1 Obviously if a person leaves a will but leaves no assets then no

Application for Probate will be required.

4.2 If a deceased person owned title to real estate such as a principal

residence jointly with that person’s spouse (or jointly with some other

8

person), then the interest in the title of the deceased person passes upon

death to the surviving joint proprietor by operation of law. This is

called Survivorship. In relation to real estate the title must be

transferred into the name of the surviving proprietor by the use of a

form known as a Survivorship Application. This should sensibly be

attended to by a solicitor but if the deceased did not leave other assets,

it will not be necessary to make an application for Probate of the will

of the deceased. This is because that joint asset is not an asset of the

estate of the deceased and does not pass under the deceased’s will. It

will of course form part of the estate of the survivor upon that person’s

death.

Similar considerations apply in relation to a jointly owned bank

account.

4.3 Ownership which is “joint” must be distinguished from other forms of

ownership of property by more than one person. If a title is held by

two or more persons as “tenants in common” (generally but not always

in equal shares) then the share of the ownership by the deceased passes

under the will of the deceased and application for Probate of the will

is likely to be required in relation to the deceased person’s share.

4.4 Sometimes a deceased person may die owning very few assets such as

a small bank account balance or a handful of small investments. In

such cases, it may be possible to avoid the necessity for making formal

application for Probate of the will of the deceased. This will depend

firstly upon whether the institution (bank or company) with which the

investment is held is agreeable to releasing the asset in the name of the

deceased to the deceased’s family or beneficiaries without the

necessity of applying for a Grant of Probate. In some cases this can be

done. The second requirement will be that the executor appointed by

the will feels comfortable with arranging informal disposition of the

small amount of assets held without the official authority of the

Supreme Court. This procedure will never be available for dealing

with title to real estate or other substantial assets.

9

5. SMALL ESTATES

5.1

There are special legislative provisions applicable to Probates of wills

of estates which are classified by the legislation as being “small”.

5.2

A small estate is one where the value of the property left by the

deceased is less than $25,000 or, if the people to benefit under the will

are the deceased person’s spouse or children or a widowed mother of

the deceased, then less than $50,000.

5.3 A small estate can be attended to by the Registrar of the Magistrates

Court or the Registrar of Probates for a fixed small fee which can

eliminate the need to engage a solicitor to assist with making the

application for Probate.

6. DUTIES OF EXECUTORS

An executor is the person to whom the execution of a Will, that is, the duty

of carrying its provisions into effect, is confided by the testator or (Will

maker).

The duties of an executor are:

1. To arrange for the funeral.

2. To prove the Will (generally through a solicitor) and to locate the next

of kin.

3. To administer the estate personally.

4. To collect and preserve the assets of the estate and to arrange any

insurance of those assets as required.

5. To ascertain and pay any debts of the estate.

6. To be responsible for income tax returns of the deceased to the date of

death, and of the estate to the date of distribution.

7. To keep proper accounts and records of estate assets and liabilities, and

of their distribution and payments.

10

8. To distribute the net assets of the estate among the beneficiaries.

9. The executor also carries a general duty to act honestly, impartially and

without enrichment.

Being an executor is very often a time consuming and difficult task. It

also carries very serious legal responsibilities.

It is possible in some cases for an executor named in a will who does

not wish to accept the position to “renounce” Probate and decline to

act.

7. LIFE ASSURANCE AND SUPERANNUATION

7.1 Quite frequently the person whose life is assured under a life policy is

not actually the owner of the policy. The policy and the proceeds of

the policy payable on the death of the life assured may be owned by a

spouse or other relative and on some occasions by a business partner

or a private company in which the deceased held an interest. If the

policy is not owned by the deceased then the proceeds will not form

part of the estate of the deceased and do not pass under the will of the

deceased.

7.2 Of course quite often the deceased will own the policy as well as being

the person whose life is assured under it so the proceeds will form part

of the estate and pass to the beneficiaries named in the will.

7.3 In general, the name of the owner will be set out in the policy

document.

7.4 Sometimes a life policy may be part of the security for a loan and the

proceeds must be paid to the lending institution to discharge the loan.

7.5 Sometimes a deceased person may own a life policy upon the life of

another, again such as the spouse of the deceased. In such a case the

value of the unrealised policy (generally the surrender value) will form

part of the estate of the deceased person and pass under the will to the

beneficiaries mentioned in the will. This will happen if the policy

11

document does not make some alternative provision for transferring

the ownership of the policy. Upon the death of the life assured, the

proceeds of the policy will then pass to the new owner if that person is

not the life assured.

7.6 Where a deceased person is a member of a superannuation fund at the

time of death, the death benefits entitlement of the member will

normally pass to persons who have been nominated by the deceased in

writing to the trustees of the superannuation fund during the lifetime

of the deceased. Where no

appropriate nomination has been made, the death benefits entitlement

of the member of the fund will in general be disposed of by the trustees

of the fund to the next of kin of the deceased or to the beneficiaries

named in the will of the deceased.

8. ROLE OF THE SOLICITOR

8.1 The primary role of the solicitor is to complete the preparation of all

documents necessary for the application for Probate of the Will, to

advertise the proposed application and to attend to any queries relating

to the will.

8.2

The Solicitor may also be engaged to assist with compiling details of

assets and in some cases in obtaining valuations of assets forming part

of the estate.

8.3

After Probate has been granted the solicitor will generally be engaged

to attend to getting in the assets of the deceased or transferring title to

assets to beneficiaries, and paying out liabilities of the estate.

8.4

It should be appreciated by executors and beneficiaries that the

solicitor will carry out much if not all of the work of the executors but

in some cases if an executor is willing to take on more of the detailed

work personally, some legal fees are likely to be saved. Of course, the

executors will carry the legal responsibility for due administration of

the estate which of itself is a very good reason for the executors to

engage a competent solicitor to assist with the work.

12

8.5 Executors can engage any solicitors they choose for the work involved

in a Probate application and there is no necessity to engage a firm

simply because it holds the will of the deceased in safe-keeping.

9. DEATH DUTIES

9.1

There are no death duties payable on or in connection with the estates

of deceased person in Australia of any kind.

9.2 However, the capital gains tax component of income tax is affected by

the death of a taxpayer. The impact of CGT is considered under

another heading.

10. ADVERTISING NOTICES TO CREDITORS AND OTHERS

10.1 A statutory procedure is available to assist trustees (and executors of

deceased estates) to provide some protection from claims made against

them after an estate has been administered and the assets of the

deceased have been transferred to the beneficiaries.

10.2 The procedure involves the insertion of an advertisement in the

prescribed form in both a daily newspaper and the State Government

Gazette which is

called a Creditors Notice and is directed at “Creditors, next of kin and

others having claims” against the estate of the deceased person. It is

to state that the executors will distribute the estate of the deceased at

the expiration of 2 months from the date of the advertisement if they

do not receive notice of any other claims.

10.3 If the executors receive no notice of a claim during the two month

period, they will have no liability to persons making claims against the

estate after the two month period has expired.

10.4 The object of the procedure is to protect executors against late claims.

However, in many cases it will not protect beneficiaries against claims

made after the two month period (if there is a legal right in some third

party to “trace” or “follow” the assets distributed).

13

10.5 This statutory procedure is particularly appropriate for executors who

have no significant interest as a beneficiary under the will of the

deceased.

11. EXECUTOR’S COMMISSION

11.1 Commission is payable to an executor if that executor is one of the

small number of recognised trustee companies entitled to act as a

professional trustee under wills by operation of legislation known as

the Trustee Companies Act. In addition the Government body known

as State Trustees charges commission for acting as an executor.

11.2 Fees are charged by trustee companies in accordance with a scale. It

is possible for you to negotiate the fees during your lifetime. The

maximum they can charge is 5.5% of the gross value of your estate

plus 6.6% of any income received by your estate.

11.3 Other than as above, an executor may only charge commission (or

fees) for acting as an executor if the Will states that this is the case up

to the amount stated in the Will but not exceeding 5% of the gross

estate.

12. CLAIMS AGAINST THE ESTATE

12.1 Until recently only persons who had some level of dependency or

very close family relationship with a deceased person could apply for

their inclusion as a beneficiary in that estate where they were not

named as beneficiaries in the will or alternatively for an increase in

their entitlement if they were named.

12.2 Now, under the Administration and Probate Act (S.91) the Supreme

Court has power to make an order to vary the dispositions set out in

the will of a deceased person if the Court considers that the will does

not make sufficient provision for the proper maintenance and support

of any person for whom the deceased had responsibility to make

provision.

14

12.3 In making an order to disturb the distribution set out in the deceased’s

will the Court must take into account various factors including the

following:

(a) the nature and length of a relationship between the deceased and

the applicant;

(b) the size and nature of the estate;

(c) any contribution by the applicant towards building up the estate

of the deceased or the welfare of the family;

(d) the liability of any other to maintain the applicant; and

(e) any other matters the Court considers relevant.

12.4 An application must be made in the ordinary course within six

months of the date of the Grant of Probate

but the court can in some cases consider an application which is made

after that period.

12.4 In many cases involving applications to disturb the distribution of

assets of a deceased person set out in that person’s will, the Court will

order that the legal costs of all parties to the application be paid out of

the assets of the estate.

12.5 As applications to the Supreme Court can be very costly it is rarely

appropriate that they should be made where the size of the estate is

small.

13. CAPITAL GAINS TAX

13.1 The rules concerning CGT are complex. These notes are not designed

as a substitute for specific advice but to set out a few general principles

to aid understanding. Where there is a possible exposure to CGT,

sensibly, professional advice must be sought.

15

13.2 There are different CGT considerations applicable for an asset which

consists of a dwelling and other assets owned by the deceased.

13.3 In the broad sense the principal residence of any person is an asset

which is exempt from all CGT liability when it is sold. Not

surprisingly then, if a

principal residence of a deceased person becomes on that person’s

death the principal residence of the beneficiary entitled to the

residence under the deceased person’s will, then the same exemption

will ordinarily apply to the position of that beneficiary.

13.4 For the purpose of this exemption, a person who was a joint proprietor

of the title to the residence with a deceased person and acquires the

interest of the deceased by survivorship is treated for CGT purposes

as if the survivor had become entitled as a beneficiary under the will

of the deceased. *

Thus if the survivor also uses the principal residence of the deceased as the

survivor’s principal residence the exemption will, not unexpectedly,

be preserved.

*

13.5 In general an exemption from CGT will apply for the benefit of a

beneficiary who acquires a dwelling under a will if that dwelling was

a “pre-CGT asset” (i.e acquired before 20 September 1985) and the

dwelling is sold within 2 years of the death of the deceased. This

exemption is not dependent upon the use of the dwelling as a

principal residence by the deceased or by the beneficiary.

13.6 In the case of a dwelling which is a “post CGT” asset (i.e. acquired by

the deceased after 20 September 1985), the exemption will only be

available if the dwelling was the principal residence of the deceased

16

at the time of death and not used for income producing purposes at

that time and is sold within two years.

13.7 If a property had been used by the deceased during part only of the

period of ownership by the deceased, an apportionment will be

applicable based upon the periods during which the property was the

principal residence of the deceased and the period during which it

was not so used.

*(See Par 4.2 of this booklet for explanation of joint proprietorship)

13.8 Other Assets

There is no CGT applicable in general for assets owned by a deceased

person simply because of the death or at the point that legal

ownership passes to the executors of the deceased (i.e. at the time of

the Grant of Probate of the will).

13.9 For a “pre-CGT” asset of the deceased which passes to a beneficiary

under the will of the deceased, the beneficiary will be treated as if

that person had acquired the asset at its market value at the date of

death of the deceased. When the asset is transferred to the

beneficiary, no CGT liability arises but if and when the beneficiary

sells the asset CGT will apply to the extent that the sale price of the

asset exceeds the market value of that asset at the date of death of the

deceased.

13.10 Similarly if the “pre-CGT” asset is sold by the executors in the course

of administration of the estate, the executors will be liable for CGT

on the difference between the market value of the asset at the date of

death and the net sale proceeds.

13.11 For a “post –CGT” asset of the deceased, the cost base for a

realisation of the asset by the executors or by the beneficiary to whom

the asset has been transferred by the executors is not the value of the

asset at the date of death but the CGT “cost base” of the asset in the

hands of the deceased person at the date of death. (i.e. the actual cost

to the deceased reduced by application of the rate of inflation).

17

13.12 Where an executor expends money on an asset and then transfers the

asset to a beneficiary at the close of administration of the estate, the

beneficiary is deemed to have made that expenditure and may add the

cost to the cost base for the purpose of calculating the CGT. An

example would be where the deceased owned non income producing

vacant land and the executor paid rates and land clearing costs.

13.13 Assets of the deceased consisting of collectables (antiques etc.) and

personal use items retain that character for CGT purposes in the hands

of the executors or the beneficiaries.

13.14 The rules provide that collectables which cost less than $500 are CGT

exempt while those costing more than $500 must be brought to account

for CGT. In the case of personal use assets which are not within the

definition of collectables, the cut off point for exposure to CGT is a

cost price for such an asset above $10,000.

For the views of the Australian Taxation Office on these issues

reference should be made to Taxation Ruling IT 2664.

14. INCOME TAX

14.1 If a person has been lodging income tax returns during his or her

lifetime, it will fall to the executor to lodge a tax return for the deceased

person in relation to income derived during the period commencing on

the previous July 1 and ending on the date of the death of the deceased.

14.2 If the deceased had not lodged a tax return in respect of a completed

financial year before the date of death then an additional tax return will

need to be lodged by the executor for that financial year.

14.3 As a quite separate duty, the executor must lodge a tax return for the

estate of the deceased person for the period commencing on the date

of death and concluding on the next occurring June 30.

18

14.4 If an estate is not fully administered and derives income in a second or

later financial year after the date of death then estate returns must be

lodged.

14.5 It will be necessary where income is derived by the estate, for a separate

tax file number to be obtained for the estate which will be used in connection

with the estate’s tax return and any later returns.

For income tax purposes, the return lodged in respect of the period up

to the date of death will cause an assessment to be raised as if that

period were a full taxation year. (There are obvious rebate advantages

in this treatment).

Executors must ensure that sufficient funds are available from the assets of

the deceased to meet any taxation liabilities in relation to the return for the

deceased person and returns made on behalf of the estate.

15. LEGAL COSTS AND EXECUTOR COMMISSION

At Kingston Lawyers we charge what we are permitted to charge under

the charging scale published annually by the Supreme Court of Victoria

and under the probate Rules of the Court.

An indicative guide of fees is as follows:

For estates under $50,000.00 – Up to $1,000.00

For estates under $1 million – Up to $6,600.00

For estates over $1 million – Up to $10,000.00.

In addition, there are out of pocket expenses of $1,250.00. These include

advertisement charges, Court charges, Titles Office charges and

miscellaneous expenses.

Please note that no amount is required to be paid in advance and

accounts can be settled from the estate monies.

19

16. QUESTIONNAIRE – PROBATE DATA INFORMATION

SHEET

Deceased

Full Name: _____________________________________________________________

Other names also known as: ________________________________________________

Occupation: ______________________________________________________________

Date of Marriage: __________________________________________________________

Date and place of death: _____________________________________________________

Date and place of birth: ______________________________________________________

Name of Spouse/Partner: _____________________________________________________

Name of Children: ___________________________________________________________

Details of any person in a dependent relationship with deceased:______________________

_________________________________________________________________________

Will

Date of Will: _________________________________________________________________

Location of Will: ______________________________________________________________

Will witness (1) full name, address, occupation: _____________________________________

___________________________________________________________________________

Will witness (2) full name, address, occupation: _____________________________________

___________________________________________________________________________

20

Assets - Real Estate Address (1): __________________________________________________________________

Title Particulars: _______________________________________________________________

Location of certificate of title: ____________________________________________________

Insurance details: ______________________________________________________________

Value: _______________________________________________________________________

Mortgage details: ______________________________________________________________

Address (2): __________________________________________________________________

Title Particulars: _______________________________________________________________

Location of certificate of title: ____________________________________________________

Insurance details: ______________________________________________________________

Value: _______________________________________________________________________

Mortgage details: ______________________________________________________________

Personal Estate - Money in Bank:

Name of Institution (1): ________________________________________________________

Address: ____________________________________________________________________

Account no: __________________________________________________________________

Name of Institution (2): ________________________________________________________

Address: ____________________________________________________________________

21

Account no: __________________________________________________________________

Name of Institution (3): ________________________________________________________

Address: ____________________________________________________________________

Account no: __________________________________________________________________

Personal Estate – Shares/units: Name of Company (1): ________________________________________________________

Registry Address: _____________________________________________________________

Number of shares/units: ________________________________________________________

SRN Number: _________________________________________________________________

State of Incorporation: __________________________________________________________

Register: _____________________________________________________________________

Name of Company (2): ________________________________________________________

Registry Address: _____________________________________________________________

Number of shares/units: ________________________________________________________

SRN Number: _________________________________________________________________

State of Incorporation: __________________________________________________________

Register: _____________________________________________________________________

Name of Company (3): ________________________________________________________

22

Registry Address: _____________________________________________________________

Number of shares/units: ________________________________________________________

SRN Number: _________________________________________________________________

State of Incorporation: __________________________________________________________

Register: _____________________________________________________________________

Personal Estate – Inscribed stock/bonds/debentures:

Name of Company (1): ________________________________________________________

Address: ____________________________________________________________________

Holding details: _______________________________________________________________

Location of certificates: _________________________________________________________

Name of Company (2): ________________________________________________________

Address: ____________________________________________________________________

Holding details: _______________________________________________________________

Location of certificates: _________________________________________________________

Personal Estate – Life Policies Name of Company (1): ________________________________________________________

Address: ____________________________________________________________________

Policy Number: _______________________________________________________________

23

Name of Company (2): ________________________________________________________

Address: ____________________________________________________________________

Policy Number: _______________________________________________________________

Debts Due:

Name of debtor: ____________________________________________________________

Amount: ___________________________________________________________________

Interest: ____________________________________________________________________

Motor Vehicle:

Make/model: ________________________________________________________________

Registration no: _______________________________________________________________

Insurance details: ______________________________________________________________

Interest in deceased estate:

Name of Estate: _______________________________________________________________

Name & address of Executor / Trustee: _____________________________________________

Type of interest: ________________________________________________________________

Value of interest: _______________________________________________________________

Interest in Business:

Name of partnership: ____________________________________________________________

Name of business: ______________________________________________________________

24

Names of partners: _____________________________________________________________

Name of Company: _____________________________________________________________

Number of shares held: __________________________________________________________

Value of interest in business: ____________________________________________________

Superannuation:

Fund name: _______________________________________________________________

Address of Fund: ___________________________________________________________

Membership no: ____________________________________________________________

Amount: ___________________________________________________________________

Liabilities: Mortgage: __________________________________________________________________

Funeral: ____________________________________________________________________

Creditor: ____________________________________________________________________

Jointly owned assets: Name/address of joint owner: ____________________________________________________

Nature of asset: _______________________________________________________________

INFORMATION/DOCUMENTATION WE REQUIRE FROM

EXECUTOR/S:

1. Death certificate (original)

2. Details of assets and liabilities - as above