Estate Administration

Our expert estate lawyers can advise executors on understanding their role, responsibilities, legal liabilities, tax obligations and filing tax returns for the estate and the deceased, paying estate debts and how to distribute the estate according to the Will or Administration Act.

When it comes to estate administration in New Zealand, understanding the step-by-step process is essential for a smooth and organised transition. Our comprehensive guide will walk you through each stage, ensuring you’re well-equipped to manage estate matters effectively.

Step 1: Obtain the Death Certificate

The first crucial step is to obtain an official death certificate from the Registrar of Births, Deaths, and Marriages. This document is essential for various legal and administrative processes.

Step 2: Identify the Executor or Administrator

Identify the executor named in the deceased’s will. If there is no will or an executor isn’t appointed, the court may appoint an administrator. The executor or administrator will be responsible for managing the estate.

Step 3: Apply for Probate (if required)

If the estate includes significant assets, applying for probate may be necessary. Probate is a legal process that validates the will and grants authority to the executor to administer the estate.

Step 4: Gather Information and Assets

Compile a detailed inventory of the deceased’s assets, including bank accounts, real estate, investments, and personal possessions. Additionally, identify any liabilities or debts owed by the estate.

Step 5: Notify Agencies and Institutions

Notify relevant agencies and institutions about the death, including banks, government departments, and insurance companies. Cancel services and subscriptions and address any outstanding obligations.

Step 6: Pay Debts and Distribute Assets

Settle outstanding debts, taxes, and funeral expenses using funds from the estate. Afterward, distribute the remaining assets to beneficiaries as outlined in the will or according to intestacy laws if no will exists.

Step 7: Prepare Final Accounts

The executor or administrator is required to prepare final accounts detailing all transactions, expenses, and distributions made during the administration process.

Step 8: Obtain Clearance from IRD

Seek clearance from the Inland Revenue Department (IRD) to ensure all tax obligations have been met by the estate. This clearance is necessary before distributing assets to beneficiaries.

Step 9: Distribute Assets to Beneficiaries

Once all legal requirements are met, the remaining assets can be distributed to beneficiaries according to the terms of the will or intestacy laws.

Step 10: Finalise Estate Administration

Complete all necessary paperwork and obtain approvals from beneficiaries. File the final accounts and other relevant documents with the appropriate authorities to officially close the estate administration process.

Navigating New Zealand’s estate administration process doesn’t have to be overwhelming. At Convey Law, we offer expert assistance to help you efficiently handle every step of the process and ensure a seamless transition. Contact us today for personalised guidance and support.