Estates

Beneficiaries - What are your rights?

A beneficiary is someone who receives a gift or benefit under a Will.

What are the rights of a beneficiary?

If you are named as a beneficiary in a Will, you are afforded certain rights. The two main rights you should be aware of are that:

  • All beneficiaries must be informed whether or not the deceased left a valid Will.

  • The beneficiary of a Will is entitled to receive a copy of the Will in its entirety if they make a formal request to the executor to do so.

Common Disputes

The most common complaints of beneficiaries are that:

  • The beneficiary is not being provided with information regarding the asset position of the trust and is being 'kept in the dark'

  • The executor is favouring one beneficiary over another

  • The beneficiary suspects that the executor is using their position to benefit themselves.

How can we help?

While these are the most common disputes related to the rights of beneficiaries there are a number of other issues you may encounter. We can talk you through any questions you may have about your rights as a beneficiary and work towards a solution.

What is an Executor?

The executor of a Will is responsible for carrying out the wishes of a person after they die. The role of the executor is to manage the Estate within the terms of the Will and protect the assets of the Estate. The executor of an Estate must comply with various laws and rules that govern the administration of deceased Estates.

What are the duties of an Executor?

Duties of an executor include:

  • Attending to funeral arrangements

  • Locating the Will

  • Applying to the Court to get permission to administer the Estate (known as getting Probate)

  • Determining the beneficiaries

  • Collecting assets

  • Making sure all claims and debts are received, assessed and paid

  • Distributing assets according to the terms of the Will

  • Preparation and management of accounts

  • Preparing and lodging taxation returns.

How we can help?

The duties of an executor can be complex. Therefore it is important you appoint the right person. We can help you appoint the right person by discussing your wishes with you, and taking you through a step by step explanation of the processes involved in obtaining Probate.