Vals VIC

1. Deceased Estate in Melbourne Vic Deceased Estate in Melbourne Vic involves selling or transferring assets to cover the final expenses of the decedent's funeral and burial. The process was traditionally a very involved one involving many long, complicated legal documents and asset transfers. It is no longer required that a large estate to be distributed over several generations, as is common under most wills. In recent years, however, more estates are being converted to a solely dependent's living trust. A living trust does not change much from a power of attorney, except that it provides for the future benefit of the decedent's estate. For more details visit : https://www.valsvic.com.au/about-us.htm There are several options available to the estate administrator when it comes to making final arrangements with respect to the decedent's estate. The decedent's will can be established either by a court order or by a power of attorney. It is common for probate courts to order an estate to be submitted to the probate court for review prior to distribution. If the will is approved there, the appointed beneficiaries will receive the assets dispersed to them through the Probate System on the date specified in the order. In cases where the will does not designate an executor, the attorney general may appoint one for the purpose. The appointed agent will oversee the process and take care of all financial matters. Although this is the most common means of dealing with probate and determining who receives what assets from the estate, other means exist. If one is interested in protecting certain assets, the attorney general may appoint a guardian ad litem, a lawyer who will act in behalf of the beneficiary and determine what should be done with the property and money. Legal representatives appointed by the guardians ad litem also deal with any probate proceedings that have to do with the property. The beneficiaries could also elect to have a private guardian appointed. The attorney general or probate court can provide instructions as to how this should be done. This is also a convenient way for beneficiaries to make sure they receive all of the assets allocated to them by the decedent's Will. Private trustees can be appointed for specific individuals, such as children, to administer the decedent's estate. This is often less formal means of

2. dealing with the estate, and is generally less costly than having a probate court process distributes the assets. The final way to deal with the estate is to establish a trustee. This person can be a member of the same legal association that a probate court will be a part of. The trustee can hold some or all of the assets of the estate until they are dispersed to the beneficiaries. This differs from having the decedent have "disinterested powers of attorney," which would give them control over all of the estate and deciding what should go where. The final step is to pay any outstanding debts of the decedent immediately before his or her death. This is usually done by making a will or Trustee Certification. It may also be helpful if a last will and testament were included with the probate court filing so that beneficiaries will see that there was actually a will and that it was signed by the decedent. These are just a few of the ways the estate can be dealt with in the state of Florida when the decedent has already passed on. Contact us : Vals VIC Address : 189 Queen Street, Melbourne, VIC 3000 Phone : (03) 9020 1494 Email : valuers@valsvic.com.au https://goo.gl/maps/ohqTf1gEnM38RfSP6