Distribution is the goal. After debts are paid and the waiting period has passed, the estate can be distributed to beneficiaries according to the will. But distribution must be done properly to protect you as executor.
When to distribute
Don't rush to distribute. Before making final distributions, ensure:
- All debts and expenses have been paid
- Tax affairs are finalised
- The 12-month claims period has passed (or you have indemnities)
- You have retained funds for any outstanding matters
Types of gifts
The will may contain different types of gifts:
"My wedding ring to my daughter Sarah"
"$10,000 to each grandchild"
"The remainder to my spouse"
"10% of residue to Hospice"
Transferring property
If real estate is being transferred to a beneficiary rather than sold, we'll prepare the transfer documents and lodge them with Land Information NZ.
The beneficiary will need to provide proof of identity and sign acceptance of the transfer.
We'll prepare distribution statements and handle all transfers. Call us on 06 835 7394.
How Carlile Dowling helps at this stage
- - Calculate final distributions
- - Prepare distribution statements for beneficiaries
- - Transfer property titles
- - Obtain proper receipts and releases
- - Keep you protected from future claims
We make sure it is done properly
Proper distribution protects you as executor. We ensure the paperwork is complete and beneficiaries provide appropriate releases.