Is winding up an estate an honour or a duty? Is it simple or complicated? While it can be challenging, it can also be very rewarding.
Don’t be afraid to ask for help. Knowing what to do and whom to contact will make the wind up process easier. Be prepared to deal with paperwork, bureaucrats and family members. Patience and open communication will defuse contentious issues and smooth strained relations, during this very emotional time. This section of the ProsperiGuide website, Estate Wind Up, is intended to help. Use the Get Organized Checklist to keep track of the things you need to do to.
“Death ends a life, not a relationship.” -Jack Lemmon
Estates are as diverse as the individuals who create them. Winding up an estate may be as simple as closing a bank account. Alternatively, it could be a complicated and frustrating exercise taking years and thousands of dollars to complete.
The estate’s representative is responsible for winding up the official “life” of the deceased. The executor assumes this role when a will is available. If no will is in place, the court-appointed administrator (a family member, friend or the public trustee) is responsible if no one else has stepped forward.
To discover what the job entails, visit the Estate Wind Up sections:
Family members may need to address other related issues such as: