dad has just passed away, he left a will but we are not sure what to do next.He had no property it is only a small saving account. We were told it needs to go to probate?
Nothing yet don't know where to start. Have notifide Centrelink to stop his pension. Need to now contact the bank.
Good day. I am sorry for your loss. If there is a small estate, the bank should only require production of a certified copy of the will and certified copy of the death certificate, in order to proceed. There will be a account closure or withdrawal form which needs to be completed by the executor . I trust this is helpful, please favourably rate my answer.
Please advise any further quey you might have.
almost 25 years' experience in the law
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Hello, I have switched to q and a mode as I cant see what you are saying.
Do we need to pay tax on the money recieved from dad's estate and do we need to notify the taxation office
Any tax paid is only what tax dad would have paid. This may not be any therefore. If there is tax payable, a return is lodged up to the date of death for the current financial year. Thank you.
Dad was 82 years old and on a pension so had not filed a tax return for a few years so I take it we will not have to file one now for this savings account, the estate is to be divided between my brother sister and myself
an amount of about $7000 each possibly
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