Deceased Estate Administration
Our deceased estate administration service is offered through a joint venture with Newmans Accountants. Newmans Accountants have vast accounting and tax experience in deceased estate administration.
Both businesses are based in same office, conveniently located on Petrie Terrace, Brisbane, Queensland.
We feel the joint venture works well because most deceased estates benefit when they utilise the skills of both a financial adviser and a tax accountant. Chris Humphrey Private Wealth Management are also happy to work with your accountant of choice for deceased estate administration, as are Newmans Accountants to work with your financial adviser of choice.
Financial Advisers contribution to deceased estate administration
As financial advisers, Chris Humphrey Private Wealth Management’s contribution to deceased estate administration can include (but not limited to):
- Assistance with life insurance claims.
- Investment advice including ensuring savings earn the best interest rates possible, maintaining the current portfolio of the deceased by participating in corporate actions etc.
- Provide advice on whether a superannuation payout should be taken as a pension or a lump sum.
- If superannuation benefits are taken as a lump sum assess whether an anti-detriment payment should apply.
- If the deceased had a self managed superannuation fund (SMSF) assess the merits of the future service benefit deduction.
- If the Will of the deceased has an equalization clause determine the split of superannuation monies versus non-superannuation monies to the respective beneficiaries.
Accountants contribution to deceased estate administration
As accountants, Newmans Accountants contribution to deceased estate administration can include (but not limited to):
- Application of a tax file number for the deceased estate if required.
- Tax returns for the deceased estate.
- Financial statements of the deceased estate.
- Reconstruction of capital gains records as required.
- Complete tax returns for the deceased up to date of death.
- Provide taxation advice on the timing of the disposal of deceased assets. This is particularly relevant when Pre-CGT assets are owned by the deceased and/or when the beneficiaries plan to dispose of the inherited assets not long after the estate is administered.
- The tax and accounting requirements of any testamentary or superannuation proceeds trusts established by the Will.
Should you come to us or a deceased estate lawyer first?
Most deceased estates require probate in order to proceed. Probate is generally organised by an estate lawyer. If you come to us first we are happy to direct you towards a lawyer we regard as most suitable for your requirements based on cost, complexity, turn around times etc.
Contact us
We can be contacted by email on estateadmin@humphreywealth.com.au or estateadmin@newmans.net.au or by calling us on 07 3368 2727 and asking for our deceased estate administration service.
