100% Locally Owned, Independent and Free

100% Locally Owned, Independent and Free

Business 2 Business column: executor decisions can be a headache

Do you have a news tip? Click here to send to our news team.

New building doubles city centre’s residential capacity

The Maroochydore city centre will soon be home to about 300 more residents, after the opening of a two-tower development. The Corso Residential Apartments, by More

Group calls for mass changes at camping hotspot

A group of government, tourism and environment representatives has called for widespread changes to improve management of a booming camping destination. The Teewah and Cooloola More

New boardwalk opens along Coastal Pathway

A 160m section of beachfront boardwalk has opened to the public after nine months of construction. The Caloundra Headland boardwalk, near Kings Beach, has replaced More

Boy, 11, dies after collision between bike and bus

An 11-year-old boy has died following a bus crash in Buderim this afternoon. Preliminary inquiries indicate a bus was travelling along Jingellic Drive near Karawatha More

Ultimate field trip inspires students to consider further study

Two Sunshine Coast Year 12 students have seen where tertiary education can take them during the field trip of their lives, thanks to the More

Glamping retreat and century-old homestead for sale

A 20-hectare property with glamping sites and a 100-year-old homestead has hit the market. Kanimbia estate, at 27 Innalls Road at Obi Obi, has attracted More

If you accept the role of executor of an estate, you take on certain legal responsibilities.

After the payment of estate debts, the primary obligation of an executor is the transfer of the assets of the deceased to the beneficiaries named in the Will.

But what happens if a beneficiary can’t be found? The executor has an obligation to locate the missing beneficiary.

The types of inquiries an executor may carry out will depend on the size of the gift and the costs involved.

If, after reasonable inquiries have been made, the beneficiary still cannot be found, an executor might consider seeking the protection of an order of the court.

The court is able to make an order allowing an executor to distribute the estate to the known beneficiaries.

The court order protects the executor for the distribution if the missing beneficiary ever turns up to “reclaim” their gift.

Applying to the court can be an expensive exercise. If your executor has no family connection with any of the beneficiaries, keeping an up-to-date record of their contact details can be of great assistance to your executor – as well as saving your estate unnecessary costs.

Trent Wakerley, Director, Kruger Law, Level 3, Ocean Central, Ocean Street, Maroochydore, 5443 9600, krugerlaw.com.au

This column is part of our Business 2 Business (B2B) series featuring industry leaders sharing their expertise. For more great articles, SUBSCRIBE to our FREE news feed, direct to your inbox daily. All you need to do is enter your name and email below.

Subscribe to SCN’s Daily News

This field is for validation purposes and should be left unchanged.
[scn_go_back_button] Return Home