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Question Details: My mother granted me enduring power of attorney, and I performed these responsibilities for the last several years of her life while she was in a resthome. I am a co-signer on all her accounts. I would like to carry out as many responsibilities as I can, and have the lawyer handle such things as filing for probate.
Filed under Wills/Estates | 1861 View(s)
Community Law Wellington & Hutt Valley
You will need the lawyer to apply for probate. Probate is the process of "proving" or validating the will in the High Court, and probate is usually required to deal with the estate's assets. Your co-executor and trustee will do this and is able to charge the estate for this work.
After probate you may be able to minimise legal costs by being the person who contacts the asset holders etc, and finding out the requirements to close the accounts, if your co-trustee and executor agrees to this. (Many forms to close accounts need to be signed in front of a lawyer, but check whether you can use a free Justice of the Peace service locally.) Usually the funds would be paid to a trust account for later distribution between beneficiaries, but if you are the sole beneficiary you could ask for the funds to be paid directly to you.
For more information, we recommend you click here: www.communitylaw.org.nz
Please note that any powers you had under the enduring powers of attorney ceased when your mother died, including your ability to sign on her accounts.
If the funds from closed accounts don't go to the lawyer's trust account, the lawyer may require some assurance from you regarding payment of the legal fees.
The role of trustee and executor is a very responsible one, and you must ensure that you understand what you are taking on. Having a lawyer as co-trustee means you can be guided as to best practice when dealing with the estate and beneficiaries.
Answered 19 Dec 2012. The IMPORTANT NOTICE below is part of this answer.
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