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What is a Deceased Estate

When a person dies, their assets and possessions in totality are known as their estate. Technically, as long as these possessions were kept by the person who has died, any possession may enter what is known as the deceased estate, although the term is held to refer to items of considerable value, whether financial or sentimental. Nonetheless, it is fair to say that the items considered to form part of a deceased estate usually will be such items as houses and land, money, jewelery and businesses that the person was in sole or partial ownership of at the time of death. The “deceased estate” usually covers the sum total of the assets included for distribution in the deceased’s will.

When making a will, then, it is essential for the person making it – known legally as the testator – to consider all items in their possession which may be considered to have extensive personal value to those they have left behind. This may be a more difficult task than it first appears, bearing in mind that what the testator considers to be something of merely curiosity value might actually be considered important and of major sentimental value by a member (or members) of their family. Being sure that you have made the right choice when you sign a will is essential, as you will not be there after your death in order for someone to ask about such items.

A deceased estate will normally have – in addition to its testator – at least one executor, who is charged with taking the control of the estate and distributing the assets to those named in the will as beneficiaries (that is to say, people who will benefit from the terms of the will). The role of executor is taken very seriously, as it places upon the person named a responsibility to act in the stead of the deceased. For this reason, an executor will often be the same person that provided the legal advice for the overall will.



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5 Comments to “What is a Deceased Estate”

  1. Andrew says:

    I think it is important for family to remember when looking for a missing will that there are always several copies made. The original is stored with the legal service, other is sent to the person making the will after being certified and sometimes a copy is sent to family. Maybe one day in Australia there will be a central online point where the will could be stored and accessed rather than family having to search through the house of the deceased or find their legal service – lawyer etc.

  2. [...] Deceased estate records have similar information but in my experience with them in NSW they provide a far more comprehensive summary of the deceased’s estate. After all the government was lining up for its share of the estate in the form of death duties.  In these I’ve found incredibly detailed lists of furniture and fittings in each room, providing a fascinating insight into how the family lived on a daily basis. Where the family member had a business you may also find a detailed list of their business assets with even more clues for research into land and business. [...]

  3. Andrew picker says:

    Deceased Estate is a possession of a state when a person died.
    Its very important to understand what is the general condition and possession of that current state.
    Thanks

  4. Andrew picker says:

    Deceased Estate is very important term for a person when he died.

  5. Deceased estate is the property of a person who has died. It includes any homes or buildings, investments, motor vehicles, cash, personal property etc. These are the things which they owned in their own name not the joint property. While making the will it is beneficial to take the advice of professional legal person.


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