Wills & Deceased Estates
A Will may be the most important document a person may ever have, yet only a very few spend the time to ensure it is in place and stay up to date. Reasons for having a professionally drafted Will in place are:
- It is your right to decide who should inherit your assets
- Ensure those close to you are taken care of
- Ensure your wishes are binding and enforceable
- Avoid unnecessary delays and costly administration
- Ensure tax efficient transfer of wealth
Common challenges found when winding up a deceased estate:
- There is no Will and the family does not know where to start;
- No provision is made for the minor children and how their inheritance will be managed;
- The existing Will is not up to date;
- There is no living Will informing family members what should be done if one is on life support and there is no reasonable prospect of recovery;
The family wastes precious time piecing together the estate and in many cases find essential documents are missing or simply don’t exist which leads to lengthy delays
Administration of Deceased Estates
EMI administers and winds-up deceased estates:
- where EMI has been appointed as the Executor;
- where a family member or friend is the Executor and EMI acts on their behalf; or
- where a person dies intestate (where there is no Will is in place).
Dealing with a deceased member’s estate can be very stressful and in most cases the family members don’t know where to start.
We provide guidance and legal advice from beginning to end. We assist the family through the process until all assets in the estate has been distributed to the beneficiaries.
This includes piecing the estate together, collecting all relevant documents and information, communicating with the debtors and creditors and attend to any tax issues.
As Conveyancers we can also attend to the transfer of the deceased fixed property to the heirs or attend to the sale thereof. This means we stay in control of the process without the need to outsource any responsibility in the administration process.