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Velocity Legal

Level 43, 80 Collins Street, North Tower, Melbourne VIC 3000

Level 10, 580 George Street, Sydney NSW 2000

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Taxation of Deceased Estates

Taxation of Deceased Estates

Tax considerations play an important role in how estates are planned, administered, and distributed. The taxation of deceased estates considers how tax issues apply to estate assets and income after a loved one passes away, and how tax-effective planning can influence those outcomes.

We help:

  • Understand how tax considerations affect estate planning and administration
  • Identify tax issues that may arise during the administration of a deceased estate
  • Consider how tax outcomes apply to beneficiaries and distributions
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4.9
74 Google Reviews
Award Winning Law Firm – Top Specialist Firm & Top Boutique Firm (Australasian Lawyer)

First class advice, service, and communication. I have had the pleasure of working with Velocity Legal for many years across a range of challenging matters and they never fail to impress.

Grant F

Their meticulous attention to detail, unwavering professionalism and strategic approach have delivered an outstanding result. Their level of service is nothing short of impressive.

Jack C

From the initial consultation to the final resolution, they provided exceptional
service and achieved an outstanding result for our case.

Wan Li

We are an accounting firm that works closely with Velocity Legal on all our client's legal matters… Every client who works with their team is delighted and impressed by the clear advice, efficient communication, and seamless process.

Selina L

I highly recommend the team at Velocity Legal. They are extremely knowledgeable, professional, have an eye for detail and their work ethic is second to none.

Mark P

They provided so much support and guidance through the process and I felt like they genuinely cared about getting the right outcome for me. They obviously know their stuff but were able to explain things in a simple and clear way.

Natalie F

Approachable, honest, professional and transparent. An absolute pleasure to work with.

Bob W

4.9
74 Google Reviews
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We Understand What You Are Going Through

Tax considerations can create uncertainty during estate planning, particularly around how assets and income are structured and distributed.

After a loved one passes away, these questions often become more immediate for executors and administrators, especially where capital gains tax, income earned after death, or reporting obligations arise alongside probate and other estate responsibilities.

We understand this can be difficult. We help you gain clarity around how tax considerations apply in the context of a deceased estate, so decisions can be made with confidence.

Our Services Include

  • Advising on tax considerations as part of estate and succession planning
  • Supporting tax-effective structuring of estate assets
  • Assisting executors and administrators with tax issues in deceased estates
  • Clarifying capital gains tax and income tax implications relating to estate assets and income
  • Supporting the tax treatment of superannuation death benefits and distributions to beneficiaries
  • Advising on tax complexity in estates involving trusts, businesses, multiple beneficiaries, or succession arrangements
Our Difference
Accountability & Expertise

Every matter we handle comes with full accountability. You’ll deal directly with an expert – every time, no exceptions.

In Your Shoes

Understanding your unique circumstances and goals - so our advice is practical, personal, and never given in a vacuum.

Transparency & Communication

We speak your language. That means plain, clear advice - what’s happening, why it matters, and what comes next.

50+
Australian Based Team
4,000+
Matters Expertly Handled
10+
Awards & Industry Recognition

Our Process

  1. Book Meeting
    Fill in contact form below or call our office to book an initial consult. You can choose between in-person or video conference.
  2. Get Advice

    You’ll discuss your situation in depth with a senior lawyer. This includes exploring your requirements, goals, and desired outcomes. You’ll walk away from this meeting with a clear understanding of the next steps.
  3. Achieve Outcomes

    Our legal team will work tirelessly to achieve your desired objectives. We work hard, communicate regularly, and pride ourselves on delivering results.
Contact
Take the First Step Today

You don’t have to figure this out alone. Book an initial consult with our expert legal team and get clear answers about your situation.

  • Transparent quotes (no ‘bill shock’)
  • Rapid response
  • Award winning team
Andrew Henshaw
Managing Director
Award Winning Law Firm – Top Specialist Firm & Top Boutique Firm (Australasian Lawyer)
Our Directors

Managing Director

Andrew Henshaw

Director

Demian Walton

Director

Greg Thomas

Director

Jennifer Maher

Director

Jess Hill

Director

Rajan Verma

Director

Seamus Ryan

Director

Shannon Hilton

The Legalities of Managing Your Loved One’s Estate After They Pass Away

If you’ve been named as the legal executor in the will of someone who has just passed away, you’ve got a big job on your hands. You need to ensure that all the deceased’s wishes are carried out, the funeral is arranged, the bank and utilities companies are notified, and you’ll be responsible for protecting the interests of the beneficiaries. On top of all that, you need to fully comply with legal regulations. Read More

Our estate administration lawyers can help you:

  • Settle debts and collect assets.
  • Deal with claims
  • Liaise with accountants, tax lawyers, and the court.
  • Put in an application for a grant of probate or letters of administration to be sent out to beneficiaries.
  • Advise on which parts of the estate are taxable and how tax reductions can be made (if at all).
  • Acquire and distribute assets to beneficiaries included in the will.
  • Offer guidance and clarity regarding your responsibilities.

In fact, if you instruct them to, our deceased estate lawyers in Melbourne can handle most of the work for you and ensure that it’s done quickly and with little room for error.

What Happens if I Fail to Administer the Estate?

If you’ve been assigned the responsibility of executor, it’s because your loved one had a lot of trust in you to carry out their wishes. While most executors fulfil their duties honestly, others fall short.

If you decide that you don’t wish to be the executor for any reason, you’re completely entitled to withdraw your appointment by signing a legal declaration. You must do this before you start doing any of the tasks or instruct a deceased estate lawyer to carry them out on your behalf. You generally will not be permitted to opt out of your obligation once you start administering the estate.

If you breach your obligations, you could be liable. Examples of common breaches include:

  • Losing an uninsured asset that the testator allocated a beneficiary to receive.
  • Financial losses occurred as a result of a delay in administration that was preventable.
  • Not adhering to the conditions of the will & estate plans.
  • Distributing assets too early before any claims have been settled.

Why You Need a Deceased Estate Lawyer?

Using the services of our estate administration lawyers can help prevent personal liability against you.

If a beneficiary thinks that you’ve been taking advantage of your position, they might decide to take legal action to remove you from the role. Allegations of executor misconduct are commonly based around:

  • Using the deceased’s bank account for transactions that aren’t in the best interests of the estate or beneficiaries. All costs and debts must be recorded and accounted for.
  • Moving into the deceased’s property for a long period of time.
  • Threatening or intimidating beneficiaries.
  • Not providing the correct documentation to reclaim expenses from the estate.
  • Selling assets in the estate to friends, family, or associates.
  • Deliberately causing prolonged delays.

Having the help and support of a legal team can help you to avoid allegations of foul play being made against you. We will ensure that we regularly update you with the progress of the administration of the estate so you can pass this information on to the beneficiaries and maintain a healthy and trusted relationship with them.

Let us take the strain and ease the load for you in this difficult time. Contact Velocity Legal for tailored advice and solutions. Read Less

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Frequently Asked Questions
How does tax affect estate planning?
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Tax considerations can influence how assets are structured, held, or transferred as part of an estate plan. These considerations may affect ownership, timing, and how assets are ultimately distributed.
What types of tax matters are considered in deceased estates?
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Tax matters in deceased estates can relate to estate assets, income, and distributions. These issues may also arise in connection with testamentary trusts established as part of the estate.
Why is it important to address tax issues in a deceased estate?
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Tax issues can affect how an estate is administered and how assets are distributed to beneficiaries. Addressing these matters early helps support an orderly and informed administration process.
Why can tax issues affect the timing of estate distributions?
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In some cases, tax matters need to be resolved before assets can be distributed. Understanding how tax interacts with estate administration can help reduce delays and uncertainty around timing.

Take the First
Step Today

You don’t have to figure this out alone. Book an initial consult with our expert legal team and get clear answers about your situation.

  • Transparent quotes (no ‘bill shock’)
  • Rapid response
  • Award winning team
Book Consult
4.9
74 Google Reviews
Award Winning Law Firm – Top Specialist Firm & Top Boutique Firm (Australasian Lawyer)