Administration of Estates of Deceased Persons Part XI
SV Partners understands the loss of a loved one can be a difficult burden to carry, more so when the Estate has insufficient assets to pay any debts owing. Our aim is to deal with such matters in a professional and respectful manner, providing the best possible outcome for all parties concerned.
What causes an administration of a deceased estate (Part XI)?
- In the circumstances when an individual that is insolvent passes away, leaving unresolved debt
- The deceased estates become insolvent due to the debts incurred by the legal personal representative of the deceased estate
- A creditor of the deceased estate or the administrator, executor or legal personal representative of the deceased estate wants to bankrupt a deceased estate
- An order for the administration of a deceased insolvent estate can only be made by the Federal Circuit Court or the Federal Court
What are the expected outcomes of an Administration of Estates of Deceased Person (Part XI)?
- Potential realisation of assets of the deceased estate and proceeds be divided equitably amongst creditors
- If administered by a Trustee; investigations, reviewing creditor claims, reporting to creditors and paying dividends
- Independent Trustee may set aside voidable transactions and potentially increase the value of the Estate
How can SV Partners help?
SV Partners can act as the independent party that conducts the investigations and administers the deceased estate under Part XI of the Bankruptcy Act. As a professional advisor, our role is to help address a personal insolvency situation with the advice and skills required to deal with all aspects of an Administration of a Deceased Estate. For more information visit our FAQ section or call our confidential assist line on 1800 246 801 where you can speak with a professional.