The administration of a deceased estate is a heavily regulated area and there are many aspects that can cause irreversible damage if misunderstood.
The View Legal Estate Admin app is designed to allow the user to narrow down some of the broad areas that might be relevant in relation to the administration of any deceased estate.
Depending on the answers provided, the app generates a free white paper containing general information about the key issues that are often relevant.
This app is another in a series of apps released by specialist estate planning firm View Legal apps. View now have apps in areas such as estate planning, business succession, directors duties and SMSFs.
All 7 of the View apps can be downloaded via the View website – see - http://viewlegal.com.au/download-our-latest-apps/
The 10 key questions answered by the Estate Admin app are –
1 Do you know what ‘probate’ is?
2 Do you understand the process involved in applying for probate following a person’s death?
3 Are you aware of the duties of an executor?
4 Can you list the assets that will generally not form part of a deceased estate?
5 Do you know what happens to company assets following a person’s death?
6 Do you know what happens to superannuation assets following a person’s death?
7 Do you know the main transaction costs that may be triggered following death?
8 Do you know what are the main capital gains tax consequences in relation to the administration of a deceased estate?
9 Do you know the timeframe within which the Tax Office expects a deceased estate to be administered?
10 Would a checklist of the main assets and liabilities that may need to be considered as part of the administration of a deceased estate be of use?